Foreign Direct Investment and Domestic Private Investment in WAEMU Countries: Crowding-in or Crowding-out?

International Journal of Economics and Financial Issues Pub Date : 2024-05-14 DOI:10.32479/ijefi.15759

Hahandou Mano

引用次数: 0

Abstract

Foreign direct investment (FDI) is a particularly attractive prospect for WAEMU countries, which are constantly integrating it into their development policies. However, studies on the relationship between FDI and private domestic investment (PDI) come to contradictory conclusions. This article focused on the effect of FDI on private domestic investment over the period 1996 to 2018. The results validated the presence of cross-country dependence. The article uses Common Correlated Effect-Mean Group (CCE-MG) as the analytical technique for this purpose. The results are consistent with the “crowding-out” hypothesis of FDI on PDI.

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西非经货联盟国家的外国直接投资和国内私人投资：挤入还是挤出？

外国直接投资（FDI）对西非经济货币联盟（WAEMU）国家来说是一个特别有吸引力的前景，这些国家不断将其纳入发展政策。然而，关于外国直接投资与国内私人投资（PDI）之间关系的研究得出了相互矛盾的结论。本文重点研究了 1996 年至 2018 年期间外国直接投资对国内私人投资的影响。结果验证了跨国依赖性的存在。为此，文章采用共同相关效应-均值组（CCE-MG）作为分析技术。结果与外国直接投资对私人国内投资的 "挤出 "假说一致。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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International Journal of Economics and Financial Issues

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期刊介绍： International Journal of Economics and Financial Issues (IJEFI) is the international academic journal, and is a double-blind, peer-reviewed academic journal publishing high quality conceptual and measure development articles in the areas of economics, finance and related disciplines. The journal has a worldwide audience. The journal''s goal is to stimulate the development of economics, finance and related disciplines theory worldwide by publishing interesting articles in a highly readable format. The journal is published Bimonthly (6 issues per year) and covers a wide variety of topics including (but not limited to): Macroeconomcis International Economics Econometrics Business Economics Growth and Development Regional Economics Tourism Economics International Trade Finance International Finance Macroeconomic Aspects of Finance General Financial Markets Financial Institutions Behavioral Finance Public Finance Asset Pricing Financial Management Options and Futures Taxation, Subsidies and Revenue Corporate Finance and Governance Money and Banking Markets and Institutions of Emerging Markets Public Economics and Public Policy Financial Economics Applied Financial Econometrics Financial Risk Analysis Risk Management Portfolio Management Financial Econometrics.