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Does Foreign Direct Investment Enhance Economic Growth? Evidence from 30 Leading Global Economies

Authors: OKWU Andy , Obiakor Rowland , Olowu Olayinka Hamdalat

Publication Type: Journal article

Journal: Global Journal Of Emerging Market Economies

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Abstract

Investment expenditure is a major component of aggregate macroeconomic variables in any economy, irrespective of the development status. This article employed relevant econometric methodology on panel data environment to analyze the effects of foreign direct investment (FDI) inflows on economic growth of 30 leading global economies during the period between 1998 and 2017. Other variables considered in the analysis were domestic credit to private sector (DCPS), gross fixed capital formation (GFCF), inflation–consumer prices index (INFPC), trade openness (TOPNESS), and youth unemployment (UEMPYT). The results showed mixed growth effects of the variables in general. Specifically, FDI exerted positive and significant effect on economic growth of the countries during the period. Therefore, this article concluded that FDI inflows enhanced economic growth and emphasized the need to foster more FDI-attracting policies as well as adequate GFCF to complement FDIs for sustainable economic growth potentials.

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OKWU,A. Obiakor,R. Olowu,O.H . (2020). Does Foreign Direct Investment Enhance Economic Growth? Evidence from 30 Leading Global Economies, 12 (), 217-217.

OKWU,A. Obiakor,R. Olowu,O.H . "Does Foreign Direct Investment Enhance Economic Growth? Evidence from 30 Leading Global Economies" 12, no (), (2020): 217-217.

OKWU,A. and Obiakor,R. and Olowu,O.H and . (2020). Does Foreign Direct Investment Enhance Economic Growth? Evidence from 30 Leading Global Economies, 12 (), pp217-217.

OKWUA, ObiakorR, OlowuOH, . Does Foreign Direct Investment Enhance Economic Growth? Evidence from 30 Leading Global Economies. 2020, 12 ():217-217.

OKWU,Andy , Obiakor,Rowland , and Olowu,Olayinka Hamdalat . "Does Foreign Direct Investment Enhance Economic Growth? Evidence from 30 Leading Global Economies", 12 . (2020) : 217-217.

O.Andy O.Rowland & O.Olayinka Hamdalat , "Does Foreign Direct Investment Enhance Economic Growth? Evidence from 30 Leading Global Economies" vol.12, no., pp. 217-217, 2020.

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