外商直接投资和经济增长：以撒哈拉以南的非洲国家为例外文原文.pdfVIP

Foreign Direct Investment And Growth:New Evidences from Sub-Saharan African countries B Seetanah ,A J Khadaroo Abstract The paper investigates the impact of foreign direct investment(FDI) on economic growth for a panel of 39 Sub-Saharan African countries for the period 1980–2000.An extended Cobb Douglas production function is used whereby investment is disaggregated into its different types namely domestic private,foreign direct and public investment for more insights comparative analysis.Taking into account the possible existence of endogeneity in FDI modeling,the study employs both static and dynamic panel data estimates.Results from the analysis suggest that FDI is an important element in explaining economic performance of Sub Saharan African countries,though to a lesser extent as compared to the other types of capital.Moreover the study confirms the presence of important endogeneity in FDI-growth relationship as FDI is not only seen to lead growth but to follow growth as well. 1.Introduction There is a general theoretical consensus among development economists that foreign direct investment(FDI)inflows is likely to play a critical role in explaining growth of recipient countries(De Mello,1997,1999;Buckley et al.,2002;Akinlo,2004 provide detailed literature survey).FDI inflows in fact represent additional resources a country needs to improve its economic performance and provides both physical capital and employment possibilities that may not be available in the host market.As De Gregorio(1992)argued ‘by increasing capital stock,FDI can increase country’s output and productivity through a more efficient use of existin