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Foreign Direct Investment and Growth: An Empiricial Investigation Based on Cross-Country Comparison

Ilhan Ozturk () and Huseyin Kalyoncu

MPRA Paper from University Library of Munich, Germany

Abstract: This paper investigates empirically the impact of FDI on economic growth of Turkey and Pakistan over the period of 1975-2004. To analyse the causal relationship between FDI and economic growth, the Engle-Granger cointegration and Granger causality tests are used. It is found that these two variables are cointegrated for both countries studied. Our empirical findings suggest that it is GDP that causes FDI in the case of Pakistan, while there is strong evidence of a bi-directional causality between the two variables for Turkey.

Keywords: Economic growth; foreign direct investment; Granger causality (search for similar items in EconPapers)
JEL-codes: C22 F2 O4 (search for similar items in EconPapers)
Date: 2007-02
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