Foreign direct investment-economic growth nexus:the role of domestic financial development in Portugal

Detalhes bibliográficos
Autor(a) principal: Shahbaz, Muhammad
Data de Publicação: 2011
Outros Autores: Leitão, Nuno Carlos, Malik, Summaira
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.15/549
Resumo: The aim of present paper is to examine the role of financial development on FDI-Growth nexus using annual data over the period of 1975-2008. The results show that financial development is playing its role well but not satisfactory. This study will provide new guidelines for policy making authorities for Portuguese's economy. The manuscript applies the unrestricted error correction model (ECM) estimator advanced by Inder (1993) while ARDL bounds testing approach is employed to find cointegration among variables. Stationarity issue is investigated by Ng-Perron unit root test. The results show that financial development stimulates economic growth for the case of Portugal. Foreign direct investment also good promoter of economic growth while investment in public capital stock is contributing more as compared to financial development and foreign direct investment. Inflation declines economic growth.
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spelling Foreign direct investment-economic growth nexus:the role of domestic financial development in PortugalFDI-Growth nexusECMFinancial developmentForeign direct investmentPortugalThe aim of present paper is to examine the role of financial development on FDI-Growth nexus using annual data over the period of 1975-2008. The results show that financial development is playing its role well but not satisfactory. This study will provide new guidelines for policy making authorities for Portuguese's economy. The manuscript applies the unrestricted error correction model (ECM) estimator advanced by Inder (1993) while ARDL bounds testing approach is employed to find cointegration among variables. Stationarity issue is investigated by Ng-Perron unit root test. The results show that financial development stimulates economic growth for the case of Portugal. Foreign direct investment also good promoter of economic growth while investment in public capital stock is contributing more as compared to financial development and foreign direct investment. Inflation declines economic growth.Economics BulletinRepositório Científico do Instituto Politécnico de SantarémShahbaz, MuhammadLeitão, Nuno CarlosMalik, Summaira2011-10-26T09:20:25Z2011-102011-10-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.15/549engSHAHBAZ, Muhammad ; LEITÃO, Nuno Carlos ; MALIK, Summaira - Foreign direct investment-economic growth nexus:the role of domestic financial development in Portugal. Economics Bulletin. 31:4 (2011) 2824-2838info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-01-21T07:29:28Zoai:repositorio.ipsantarem.pt:10400.15/549Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T01:53:06.132584Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Foreign direct investment-economic growth nexus:the role of domestic financial development in Portugal
title Foreign direct investment-economic growth nexus:the role of domestic financial development in Portugal
spellingShingle Foreign direct investment-economic growth nexus:the role of domestic financial development in Portugal
Shahbaz, Muhammad
FDI-Growth nexus
ECM
Financial development
Foreign direct investment
Portugal
title_short Foreign direct investment-economic growth nexus:the role of domestic financial development in Portugal
title_full Foreign direct investment-economic growth nexus:the role of domestic financial development in Portugal
title_fullStr Foreign direct investment-economic growth nexus:the role of domestic financial development in Portugal
title_full_unstemmed Foreign direct investment-economic growth nexus:the role of domestic financial development in Portugal
title_sort Foreign direct investment-economic growth nexus:the role of domestic financial development in Portugal
author Shahbaz, Muhammad
author_facet Shahbaz, Muhammad
Leitão, Nuno Carlos
Malik, Summaira
author_role author
author2 Leitão, Nuno Carlos
Malik, Summaira
author2_role author
author
dc.contributor.none.fl_str_mv Repositório Científico do Instituto Politécnico de Santarém
dc.contributor.author.fl_str_mv Shahbaz, Muhammad
Leitão, Nuno Carlos
Malik, Summaira
dc.subject.por.fl_str_mv FDI-Growth nexus
ECM
Financial development
Foreign direct investment
Portugal
topic FDI-Growth nexus
ECM
Financial development
Foreign direct investment
Portugal
description The aim of present paper is to examine the role of financial development on FDI-Growth nexus using annual data over the period of 1975-2008. The results show that financial development is playing its role well but not satisfactory. This study will provide new guidelines for policy making authorities for Portuguese's economy. The manuscript applies the unrestricted error correction model (ECM) estimator advanced by Inder (1993) while ARDL bounds testing approach is employed to find cointegration among variables. Stationarity issue is investigated by Ng-Perron unit root test. The results show that financial development stimulates economic growth for the case of Portugal. Foreign direct investment also good promoter of economic growth while investment in public capital stock is contributing more as compared to financial development and foreign direct investment. Inflation declines economic growth.
publishDate 2011
dc.date.none.fl_str_mv 2011-10-26T09:20:25Z
2011-10
2011-10-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.15/549
url http://hdl.handle.net/10400.15/549
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv SHAHBAZ, Muhammad ; LEITÃO, Nuno Carlos ; MALIK, Summaira - Foreign direct investment-economic growth nexus:the role of domestic financial development in Portugal. Economics Bulletin. 31:4 (2011) 2824-2838
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Economics Bulletin
publisher.none.fl_str_mv Economics Bulletin
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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