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Nexus between foreign direct investment and economic growth in Bangladesh: an augmented autoregressive distributed lag bounds testing approach
Financial Innovation ( IF 6.9 ) Pub Date : 2020-02-06 , DOI: 10.1186/s40854-019-0164-y
Bibhuti Sarker , Farid Khan

The relationship between foreign direct investment (FDI) inflows and economic growth in host countries is a heavily debated issue. Although some studies have found evidence of the positive impact of FDI on economic growth, others have revealed the opposite result. Studies that examined the causality between FDI and gross domestic product (GDP) also have found evidence of unidirectional causality and, in some cases, a bidirectional causality. This study investigated the causal nexus between FDI and GDP in Bangladesh by employing standard time-series econometric tools, namely, augmented Dickey-Fuller, augmented Dickey-Fuller generalized least square, Kwiatkowski-Phillips-Schmidt-Shin, and Lee-Strazicich unit root tests to check stationarity, augmented autoregressive distributed lag (augmented ARDL) bounds testing approach to check cointegration, and Granger causality to explore the direction of causality. The augmented ARDL model found a long-run relationship between FDI and GDP. In addition, the error correction model and Granger causality results indicated the presence of a unidirectional causality running from GDP to FDI.

中文翻译:

孟加拉国外国直接投资与经济增长之间的联系:一种增强的自回归分布式滞后边界测试方法

外国直接投资 (FDI) 流入与东道国经济增长之间的关系是一个备受争议的问题。尽管一些研究发现了 FDI 对经济增长产生积极影响的证据,但其他研究则揭示了相反的结果。检查 FDI 与国内生产总值 (GDP) 之间因果关系的研究也发现了单向因果关系的证据,在某些情况下,还发现了双向因果关系。本研究采用标准时间序列计量经济学工具,即增广 Dickey-Fuller、增广 Dickey-Fuller 广义最小二乘、Kwiatkowski-Phillips-Schmidt-Shin 和 Lee-Strazicich 单位根,调查了孟加拉国 FDI 与 GDP 之间的因果关系检查平稳性的测试,增强自回归分布式滞后(增强ARDL)边界测试方法来检查协整,和格兰杰因果关系来探索因果关系的方向。增强型 ARDL 模型发现 FDI 与 GDP 之间存在长期关系。此外,误差修正模型和格兰杰因果关系结果表明存在从 GDP 到 FDI 的单向因果关系。
更新日期:2020-02-06
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