SAVINGS, FOREIGN DIRECT INVESTMENT INFLOWS AND ECONOMIC GROWTH IN EMERGING ASIAN ECONOMIES
Journal Title: Asian Economic and Financial Review - Year 2014, Vol 4, Issue 8
Abstract
Saving rate is one of the important elements of all the theories of economic growth and foreign direct investment inflows also became an important determinant of economic growth together with the globalization process as of 1990s. Therefore many studies have been conducted on the relationship between economic growth and savings, foreign direct investment inflows. This study examines the effects of domestic savings and foreign direct investment inflows on the economic growth in emerging Asian economies during the period 1982-2012 by using Pedroni, Kao and Johansen-Fisher panel co-integration tests and vector error correction model. We found that gross domestic savings, gross domestic investment and foreign direct investment inflows had positive effect on economic growth in the long run.
Authors and Affiliations
Yılmaz Bayar| Department of Business Administration, Faculty of Business, Karabuk University, Karabuk-Turkey
Keywords
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