Foreign direct investment and growth causal nexus in economic community of West African States: Evidence from spectral causality
Journal Title: Business and Economic Horizons - Year 2018, Vol 14, Issue 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.
Authors and Affiliations
Anokye M. Adam
Keywords
Related Articles
- EP ID EP448144
- DOI 10.15208/beh.2018.2
- Views 70
- Downloads 0
Microinsurance in India: Insurance literacy and demand
Microinsurance offers policies to cover four types of risk; life, health, accidental and property and is a key element for the financial inclusion of the poor. This study examined the influence of insurance literacy and...
Differences on self-perception of organizational pride and loyalty in Millennial & Generation X, considering gender and seniority variables
The research objective is to compare the differences in self-perception of organizational pride and loyalty between millennials and generation x, considering the variables of gender and seniority. The reason for this stu...
Economic impact of the change in tax rate on small enterprises of manufacturing and construction sectors: Evidence from Russia 2006-2014
The hypothesis about positive influence of lower tax rate was tested on the Russian small businesses of construction and manufacturing sectors. The period from 2006 to 2014 includes the three-year gap, during which the n...
The analysis of capital structure for property-liability insurers: a quantile regression approach
By using a two-stage quantile regression approach (2SQR), this study demonstrates how the insurer’s leverage is determined across various quantiles. The evidence shows that the influence of the business concentration and...
Intergenerational fairness from an economic perspective: Overview of some theoretical and methodological issues
This paper seeks to conceptualize the term of intergenerational fairness with particular attention paid to possible comparative cross-country studies in this field that would aim at searching for the most efficient welfa...