1980
2014
dje_nassima@yahoo.fr syoucef12@yahoo.frThe impact of Foreign Direct Investment on Economic Growth:
Evidencefrom Arab Maghreb Countries.
Nassima DJELLOULI & Youcef SOUAR
University of Mostaganem & University of Saida -Algeria
Received:11 Feb 2017 Accepted: 17 May 2017 Published: 30 June 2017
: 1980 2014 jel C23,E31,F10,F43,O40 Abstract:
This paper attempts to investigate the impact of Foreign Direct Investment (henceforth FDI) on
economic growth (henceforth GDP) of Arab Maghreb Countries over the period 1980-2014 using regression analysis of panel data, the results indicate that FDI has a negative impact on GDP of the countries under study, and our results suggest that the productivity of FDI holds only when the host country has a minimum threshold stock of human capital, and certain limit of trade openness and inflation rates.
Key Words : Foreign Direct Investment, economic growth, panel data, human capital, trade openness,
inflation rates.
1 Solow(1956) Easterly and Levine(2001) Caselli’s(2004) Haddad and Harrison(1993)
Aitken and Harrison(1999)
Djanko and Hoekman(2000)
Konings 2 3(Borensztein,et.,al,1998) (SUR) 69 4(Balasubramanyan,et.,al,1996) 46
1970 1985 Bhagwati(1978) (EP) (IS) (EP) (IS) 1 FDI FDI 2 * FDI * FDI * FDI 3 IMRAD
1 (William Petty) (David Ricardo) (Robert Torrens) 5 (A.Smith) (D.Ricardo) (T.Malthus) (J.Schumpeter) (J.M.Keynes) 6 (Smith) (Smith) 7 (Smith) 8 (Smith) (Ricardo) (Smith) (Ricardo) 9 (Malthus) 10
(Schumpeter) 11 Harrod Domar (G.Cassel) (Cassel) (A.Marshall) 1890 (Arrow) 1962 (Romer) 1983 12 2 IMF 10 % 10 % 50 % 50 %
' 13 10 % 10 % 50 % 01 B C A E G A B C
D B E F C G 01 A A D F 10 % 50 % 14 1 5 (UNCTAD) (OECD) 16 3 1.3
(Mansouri,2009)
17
1970 2005 FDI 2.3 (Selim,2010)
18
1970 2007 Granger VECM Johansen VAR Johansen 1 2 3 3.3
(Hassen,et.,al,2012)
19
1975 2009 1 2 3 Johansen (Nasfi,2014) 2 0 1 2 (Hassen,et.,al,2012) 1980 2011 4.3 (Benhabib,et.,al,2013)
21
1970 2010
1 1980 2014 2 (IFS,WEO) (Unctad) (Sesric) PWT8.1 Barro-Lee 02 03 04 (FDI/GDP) 87.15 % 1990 1980 96.53 % 2000 1990 100 % 2010 2000 113.14 % 2014 2010 78.07 % 1990 1980 37.71 % 2000 1990 2000 2010 231.28 % 5.16 % 2014 2010 1980 1990 65.59 % 1990 2000 60.61 % 20.88 % 2010 2000 33.29 % 2010 2014 3 (Panel DATA) Panel OLS NT 22FEM ( 23 FEM 24REM
25ECM 26 2 7 0 03 02 28GLS 4 01 STATA POLS FEM REM POLS REM POLS Lagrange (Breush-Pagan,1979) 02 Breush-Pagan 1 POLS 01 POLS