Growth effects of FDI and portfolio investment flows to developing countries: a disaggregated analysis by income levels

Glauco de Vita and Khine Kyaw

Applied Economics Letters, 2009, vol. 16, issue 3, 277-283

Abstract: What is the impact of foreign direct investment (FDI) and portfolio investment flows on the economic growth of low-, lower middle- and upper middle-income countries? In this article we address this question using a dynamic panel model and a large data set of 126 developing countries for the period 1985 to 2002. Employing the system-generalized methods of moments (GMM) estimation approach, our findings suggest that only developing countries that have reached a minimum level of economic development and absorptive capacity are capturing the growth-enhancing effects of both forms of investment inflows.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:16:y:2009:i:3:p:277-283

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DOI: 10.1080/13504850601018437

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