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Foreign Direct Investment and Growth: An Empirical Investigation based on Cross-Country Comparison

Ilhan Ozturk () and Huseyin Kalyoncu

Economia Internazionale / International Economics, 2007, vol. 60, issue 1, 75-81

Abstract: This paper investigates empirically the impact of FDI on economic growth of Turkey and Pakistan over the period of 1975-2004. To analyse the causal relationship between FDI and economic growth, the Engle-Granger cointegration and Granger causality tests are used. It is found that these two variables are cointegrated for both countries studied. Our empirical fi ndings suggest that it is GDP that causes FDI in the case of Pakistan, while there is strong evidence of a bi-directional causality between the two variables for Turkey.

Keywords: Economic growth; foreign direct investment; Granger causality (search for similar items in EconPapers)
JEL-codes: C32 F21 O40 (search for similar items in EconPapers)
Date: 2007
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