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Title: The Dynamic Links Between Exports, Foreign Direct Investment, and Economic Growth: Evidence from European Transition Economies
Authors: Tsitouras, Antonis
Nikas, Christos
Type: Article
Subjects: FRASCATI::Social sciences::Economics and Business
FRASCATI::Social sciences::Economics and Business::Econometrics
Keywords: fdi
panel data analysis
time series analysis
transition economies
Issue Date: 2016
Publisher: Taylor & Francis
Source: Journal of East-West Business
Volume: 22
Issue: 3
First Page: 198
Last Page: 235
Abstract: By applying time series and panel data cointegration analysis, this study investigates the causal relations between exports, inward FDI and GDP for fifteen European transition economies over the period 1995–2014. This study goes beyond previous empirical works by using two auxiliary variables in the aforementioned nexus: domestic investment and government spending. Empirical findings suggest that though the effect of openness is beneficial to all economies of the region, the presence of export-led growth and FDI-led growth hypotheses are validated mainly for the group of economies that entered the European Union in 2004. Conversely, for the remaining economies, the results confirm the prevalence of a culture for saving over spending, which eventually provokes the beneficial expansion of their local investment and export capacity.
ISSN: 1066-9868
Other Identifiers: 10.1080/10669868.2016.1180658
Appears in Collections:Department of Balkan, Slavic & Oriental Studies

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