How does foreign direct investment affect economic growth?

• 成果类型: Article
• 署名作者: Borensztein, E; De Gregorio, J; Lee, JW
• 署名单位: International Monetary Fund; Universidad de Chile; Korea University
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/S0022-1996(97)00033-0
• 发表日期: 1998
• 页码: 115-135
• 关键词: foreign direct investment; Economic growth; cross-country regression framework; Developing countries

摘要

We test the effect of foreign direct investment (FDI) on economic growth in a cross-country regression framework, utilizing data on FDI flows from industrial countries to 69 developing countries over the last two decades. Our results suggest that FDI is an important vehicle for the transfer of technology, contributing relatively more to growth than domestic investment. However, the higher productivity of FDI holds only when the host country has a minimum threshold stock of human capital. Thus, FDI contributes to economic growth only when a sufficient absorptive capability of the advanced technologies is available in the host economy. (C) 1998 Elsevier Science B.V.