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Aid and Foreign Direct Investment in Vietnam

Chengang Wang and Vudayagiri Balasubramanyam

Journal of Economic Integration, 2011, vol. 26, 721-739

Abstract:

This short paper explores the complementarity between foreign aid and foreign direct investment (FDI). Recent studies on aid concluded that aid should come to an end or be reduced with a radical modification of the terms and conditions and FDI and trade should replace aid as the engine of development. In this paper, we argue that aid complements FDI and advances the efficacy of FDI in promoting growth and development in the developing countries. Using data from the provinces in Vietnam, the statistical analysis suggests that aid has a positive impact on inflows of FDI and aid can complement FDI in promoting economic growth.

Keywords: Foreign Direct Inverstment; Aid; Economic Growth; Vietnam (search for similar items in EconPapers)
JEL-codes: F21 F35 O19 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ris:integr:0556

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