Artikel
Structural changes, FDI, and economic growth: Evidence from the Baltic states
Despite the fact that previous studies have extensively investigated the foreign direct investment (FDI)-growth nexus, those studies have not considered the role of terms of trade as a proxy for international competitiveness and structural changes. This paper investigates the causal nexus between FDI, growth, and terms of trade volatility (TOTV) in Estonia, Latvia, and Lithuania by constructing a vector autoregression model. On the basis of the Granger non-causality procedure developed by Toda and Yamamoto (J Econom 66:225-250, 1995) and Yamada and Toda (J Econom 86:55-95, 1998), the results show that the causality is bidirectional between FDI and growth in Estonia and unidirectional (running from FDI to growth) in Latvia and Lithuania. The results also confirm causal linkages between FDI and TOTV in the sample countries. The policy implication of these results is that, by promoting growth and structural reforms, the recipient countries can encourage FDI inflows and, this in turn, can affect growth. In addition, multinationals' activities and TOTV show the presence of a feedback between these two variables.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Journal of Economic Structures ; ISSN: 2193-2409 ; Volume: 5 ; Year: 2016 ; Issue: 14 ; Pages: 1-9 ; Heidelberg: Springer
- Klassifikation
-
Wirtschaft
International Investment; Long-term Capital Movements
Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
- Thema
-
Foreign direct investment
Causality
Baltic countries
Economic growth
Terms of trade volatility
Structural changes
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Irandoust, Manuchehr
- Ereignis
-
Veröffentlichung
- (wer)
-
Springer
- (wo)
-
Heidelberg
- (wann)
-
2016
- DOI
-
doi:10.1186/s40008-016-0045-8
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Irandoust, Manuchehr
- Springer
Entstanden
- 2016
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