Foreign direct investment and economic growth in Sub-Saharan Africa: the complementary role of economic freedom and financial market fragility

被引：8
作者：
Kwablah, Edmund [1 ]
Amoah, Anthony [2 ,3 ]
机构：
[1] Cent Univ, Dept Econ, Accra, Ghana
[2] Univ Environm & Sustainable Dev, Sch Sustainable Dev, Somanya, Ghana
[3] Africa Ctr Appl Econ & Policy Res ACAEP, Accra, Ghana
来源：
TRANSNATIONAL CORPORATIONS REVIEW | 2022年 / 14卷 / 02期
关键词：
FDI; economic growth; financial market fragility; economic freedom; SSA; UNIT-ROOT TESTS; TIME-SERIES; PANEL-DATA; ENERGY-CONSUMPTION; COUNTRIES; TRADE; FDI; SPILLOVERS; ENHANCE;
D O I：
10.1080/19186444.2022.2041159
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In line with the neoclassical growth theory, this study examines the complementary role of economic freedom and financial fragility in the foreign direct investment (FDI) - growth nexus for 36 Sub-Saharan (SSA) Africa countries spanning the period 1998 to 2016. The study hypothesises that for FDI to translate into growth, financial market development that account for fragility and economic freedom should be present in the host country. The uniqueness of this study lies in the use of financial market data that accounts for financial market fragility and aggregate score of economic freedom. Using fully modified ordinary least squares technique, the study reveals that economic freedom and a well-developed financial market complement FDI in promoting economic growth in SSA. This study highlights the need to strengthen the financial system and promote economic freedom to enhance FDI's effect on economic growth.
引用
收藏
页码：127 / 139
页数：13
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