Foreign direct investment and growth causal-nexus in economic community of West African States: Evidence from spectral causality

Business and Economic Horizons Pub Date : 2018-01-01 DOI:10.15208/BEH.2018.2

A. Adam

引用次数: 1

Abstract

The paper examines the causal relationship between FDI and economic growth (GDP) in thirteen ECOWAS countries using both time domain and frequency domain testing procedures using annual data from 1970 to 2015. The results showed that time domain is not adequate in detecting causality. The time domain detected causality in only four out of thirteen countries whilst the frequency domain detected causality at different frequencies and cycles in nine out of thirteen countries. The findings of this study indicate the importance of frequency domain causality, that it decomposes causality at different frequencies and subsequently detects causality at certain cycles lengths. The general observation that economic growth leads FDI calls for ECOWAS leaders to rethink about painful sacrifices they make to attract FDI into the region.

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西非国家经济共同体的外国直接投资与增长因果关系:来自谱因果关系的证据

本文利用1970年至2015年的年度数据，采用时域和频域测试程序，检验了13个西非经共体国家的FDI与经济增长(GDP)之间的因果关系。结果表明，时间域不足以检测因果关系。在13个国家中，时域仅在4个国家中发现了因果关系，而在13个国家中，频域在9个国家中发现了不同频率和周期的因果关系。本研究的发现表明频域因果关系的重要性，它在不同的频率分解因果关系，随后在一定的周期长度检测因果关系。经济增长导致外国直接投资的普遍看法要求西非经共体领导人重新考虑他们为吸引外国直接投资进入该区域所作出的痛苦牺牲。

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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Business and Economic Horizons ECONOMICS-

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