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Is Corruption Good or Bad for FDI? Empirical Evidence from Asia, Africa and Latin America

Abdul Jalil Author-Email: Jalil.hanif@gmail.com and Mete Feridun
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Abdul Jalil Author-Email: Jalil.hanif@gmail.com: Corresponding author School of Economics, Quaid-i-Azam University, Islamabad, Pakistan Author-Name: Amina Qureshi Author-Email: aminaqureshi77@gmail.com

Panoeconomicus, 2016, vol. 63, issue 3, 259-271

Abstract: This article revisits the relationship between corruption and Foreign Direct Investment inflows in a panel of 42 countries from 1984 to 2012 using pooled mean group estimator in a dynamic heterogeneous panel setting using Westerlund and ARDL panel cointegration tests where the estimations are carried out by three different estimators: the pooled mean group (PMG), mean group (MG), and the dynamic fixed effect (DFE) estimators in order to examine both the long- and short-term effects of corruption on FDI inflows. The results suggest that corruption has a positive impact on FDI inflows in the case of Asia and Africa; and a negative impact in the case of Latin America.

Keywords: FDI; Corruption; Panel data. (search for similar items in EconPapers)
JEL-codes: F15 (search for similar items in EconPapers)
Date: 2016
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