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Foreign and Public Investment and Economic Growth: The Case of Romania

Cristian Valeriu Stanciu and Narcis Mitu ()

MPRA Paper from University Library of Munich, Germany

Abstract: In the last decades, there were many empirical studies regarding the role of private and public investment in the growth process. The aim of this paper is to examine, in the Romanian economy, the relationship among 5 macroeconomic variables: Gross Domestic Product, Foreign Direct Investment, Foreign Portfolio Investment, Foreign Other Investment and State Public Investment, using quarterly data over the period 2006Q1-2016Q2. A multiple regression model is used to investigate the effects of the selected independent variables (FDI, FPOI, FOI and SPI) on the endogenous variable (GDP). The results obtain from the multiple regression model show a positive relationship between Gross Domestic Product and Foreign Direct Investment, State Public Investment and Foreign Portfolio Investment (in this order) and a negative relationship between Gross Domestic Product and Foreign Other Investment. We hope that this paper can be a useful tool for government and policy makers in formulating the right investment policies in order to enhance economic development.

Keywords: Foreign Investment; Public Investment; Romania (search for similar items in EconPapers)
JEL-codes: G20 G28 H6 H60 (search for similar items in EconPapers)
Date: 2017, Revised 2017
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Published in The Young Economists Journal 28 (2017): pp. 7-20

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