Does foreign aid really attract foreign investors? New evidence from panel cointegration

Julian Donaubauer

Applied Economics Letters, 2014, vol. 21, issue 15, 1094-1098

Abstract: This article examines whether foreign aid contributes to attracting foreign direct investment (FDI) in aid receiving countries. Using both homogeneous and heterogeneous panel cointegration techniques, I find that the effect of foreign aid on FDI is negative. This is in contrast to previous studies that usually found a positive association between aid and FDI.

Date: 2014
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DOI: 10.1080/13504851.2014.909570

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