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Trade, foreign direct investment and economic growth in Asian economies


Liu, Xiaohui; Shu, Chang; Sinclair, Peter


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Abstract Despite the increasing role of foreign direct investment (FDI) in economic development, very limited research has been carried out on the causal links between trade, FDI and economic growth in Asian economies. This study examines empirically the interplay between exports, imports, FDI and economic growth for nine Asian economies by conducting multivariate causality tests in the VECM framework. The results reveal two-way causal connections between trade, inward FDI, inward merger and acquisitions (M&As), and growth for most of the sample economies. There is a unidirectional causal link running from outward M&As to growth and trade. These findings suggest that export expansion, import liberalisation, FDI inflows and inward M&As are integral elements of the growth process in Asian economies.
Sprache Dokument Englisch
Publikationsjahr 2009
Seitenangabe S. 1603-1612
Zeitschriftentitel Applied Economics, 41 (2009) 13
DOI http://dx.doi.org/10.1080/00036840701579176
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)