| Trường DC | Giá trị | Ngôn ngữ |
|---|---|---|
| dc.contributor.author | Ha, Thi An Thu | |
| dc.contributor.other | Kuo-Chun Yeh | |
| dc.date.accessioned | 2023-11-01T10:24:07Z | - |
| dc.date.available | 2023-11-01T10:24:07Z | - |
| dc.date.issued | 2021 | |
| dc.identifier.isbn | 1989-0020 | |
| dc.identifier.uri | https://dlib.neu.edu.vn/handle/NEU/58679 | - |
| dc.description | Economic Investment | |
| dc.description.abstract | Purpose – The purpose of this study is to examine the effect of foreign direct investment (FDI) on economic growth contingent on the development level of the local financial system in emerging and developing Asia during the period 1996–2017. Design/methodology/approach – The study adopts the threshold approach, namely the panel smooth transition regression (PSTR) model, for the annual data collection of 18 emerging and developing Asian countries in 22 years. The authors analyze the alternative PSTR models on different proxies of financial development (FD). Findings – The results show new findings of two distinct thresholds of FD in the FDI–growth nexus. The growth-enhancing effect of FDI is realized only when the FD lies between the two threshold values. Notably, at very high levels of FD, the beneficial effect of FDI on growth is vanishing. Originality/value – The authors provide new insights into the growth effect of FDI and the role of FD. The estimated nonlinear effect of FDI on growth and the thresholds of FD can be benchmarks for emerging and developing Asia in assessment of their situations. The results suggest important implications to the region in setting the long-run policies to boost the effect of FDI on economic growth. | |
| dc.description.tableofcontents | 1. Introduction Literature review Methodology Data Empirical results Conclusions | |
| dc.format.extent | Khổ 21 x 29.7 | |
| dc.language.iso | en | |
| dc.publisher | Kinh Tế Quốc Dân | |
| dc.subject | Foreign direct investment | |
| dc.subject | Financial development | |
| dc.subject | Economic growth | |
| dc.subject | Emerging and developing Asia | |
| dc.subject | Panel smooth transition regression | |
| dc.title | Growth effect of foreign direct investment and financial development: new insights from a threshold approach | |
| dc.type | Journal of Economics and Development | |
| dc.identifier.barcode | 10-1108_JED-08-2020-0108 | |
| dc.relation.reference | Abdul Bahri, E.N., Shaari Md Nor, A.H., Sarmidi, T. and Haji Mohd Nor, N.H. (2019), “ The role of financial development in the relationship between foreign direct investment and economic growth: a nonlinear approach” , Review of Pacific Basin Financial Markets and Policies, Vol. 22 No. 2, pp. 1950009-1-1950009-32. Adams, S. (2009), “Foreign Direct investment, domestic investment, and economic growth in SubSaharan Africa”, Journal of Policy Modeling, Vol. 31 No. 6, pp. 939-949. Agbloyor, E.K., Gyeke-Dako, A., Kuipo, R. and Abor, J.Y. (2016), “Foreign direct investment and economic growth in SSA: the role of institutions”, Thunderbird International Business Review, Vol. 58 No. 5, pp. 479-497. Alfaro, L., Chanda, A., Kalemli-Ozcan, S. and Sayek, S. (2004), “FDI and economic growth: the role of local financial markets”, Journal of International Economics, Vol. 64 No. 1, pp. 89-112. Alfaro, L., Kalemli-Ozcan, S. and Sayek, S. (2009), “FDI, productivity and financial development”, World Economy, Vol. 32 No. 1, pp. 111-135. Alfaro, L., Chanda, A., Kalemli-Ozcan, S. and Sayek, S. (2010), “Does foreign direct investment promote growth? Exploring the role of financial markets on linkages”, Journal of Development Economics, Vol. 91 No. 2, pp. 242-256. Alguacil, M., Cuadros, A. and Orts, V. (2011), “Inward FDI and growth: the role of macroeconomic and institutional environment”, Journal of Policy Modeling, Vol. 33 No. 3, pp. 481-496. Alvarado, R., Iniguez, M. and Ponce, P. (2017),~ “Foreign direct investment and economic growth in Latin America”, Economic Analysis and Policy, Vol. 56, pp. 176-187. An, T.H.T. and Yeh, K.C. (2020), “Determinants of Taiwan’s outward investment in Southeast Asia: economic factors and institutional issues”, Pacific Economic Review, pp. 1-38, doi: 10.1111/1468- 0106.12348. Arcand, J.L., Berkes, E. and Panizza, U. (2015), “Too much finance?”, Journal of Economic Growth, Vol. 20 No. 2, pp. 105-148. Azman-Saini, W.N.W., Baharumshah, A.Z. and Law, S.H. (2010a), “Foreign direct investment, economic freedom and economic growth: international evidence”, Economic Modelling, Vol. 27 No. 5, pp. 1079-1089. Azman-Saini, W.N.W., Law, S.H. and Ahmad, A.H. (2010b), “FDI and economic growth: new evidence on the role of financial markets”, Economics Letters, Vol. 107 No. 2, pp. 211-213. Baharumshah, A.Z., Slesman, L. and Devadason, E.S. (2017), “Types of foreign capital inflows and economic growth: new evidence on role of financial markets”, Journal of International Development, Vol. 29 No. 6, pp. 768-789. Caner, M. and Hansen, B.E. (2004), “Instrumental variable estimation of a threshold model”, Econometric Theory, Vol. 20 No. 5, pp. 813-843. Carbonell, J.B. and Werner, R.A. (2018), “Does foreign direct investment generate economic growth? A new empirical approach applied to Spain”, Economic Geography, Vol. 94 No. 4, pp. 425-456. Cardoso, F.H. and Faletto, E. (1979), Dependency and Development in Latin America, University of California Press, Berkeley and Los Angeles, California, CA. Chen, J. and Quang, T. (2014), “The impact of international financial integration on economic growth: new evidence on threshold effects”, Economic Modelling, Vol. 42, pp. 475-489. Colletaz, G. and Hurlin, C. (2008), “Threshold Effects in the Public Capital Productivity: An International Panel Smooth Transition Approach”, LEO Working Paper No. 1669, Orleans Economics Laboratory, University of Orleans, Orl eans. Delgado, M.S., McCloud, N. and Kumbhakar, S.C. (2014), “A generalized empirical model of corruption, foreign direct investment, and growth”, Journal of Macroeconomics, Vol. 42, pp. 298-316. Growth effect of foreign direct investment 159 Fouquau, J., Hurlin, C. and Rabaud, I. (2008), “ The Feldstein–Horioka puzzle: a panel smooth transition regression approach” , Economic Modelling, Vol. 25 No. 2, pp. 284-299. G€onel, F. and Aksoy, T. (2016), “Revisiting FDI-led growth hypothesis: the role of sector characteristics”, The Journal of International Trade and Economic Development, Vol. 25 No. 8, pp. 1144-1166. Goh, S.K., Sam, C.Y. and McNown, R. (2017), “Re-examining foreign direct investment, exports, and economic growth in asian economies using a bootstrap ARDL test for cointegration”, Journal of Asian Economics, Vol. 51, pp. 12-22. Gonzalez, A., Terasvirta, T. and van Dijk, D. (2005), Panel Smooth Transition Regression Models (Research Paper No. 165), Quantitative Finance Research Centre, University of Technology, Sydney. Gonzalez, A., Terasvirta, T., van Dijk, D. and Yang, Y. (2017), Panel Smooth Transition Regression Models, Updated version of the Working Paper No. 604, SSE/EFI Working Paper Series in Economics and Finance, Stockholm School of Economics, Stockholm. Hansen, B.E. (1999), “Threshold effects in non-dynamic panels: estimation, testing, and inference”, Journal of Econometrics, Vol. 93 No. 2, pp. 345-368. Hansen, B.E. (2000), “Sample splitting and threshold estimation”, Econometrica, Vol. 68 No. 3, pp. 575-603. Hermes, N. and Lensink, R. (2003), “Foreign direct investment, financial development and economic growth”, Journal of Development Studies, Vol. 40 No. 1, pp. 142-163. Herzer, D. (2012), “How does foreign direct investment really affect developing countries’ growth?”, Review of International Economics, Vol. 20 No. 2, pp. 396-414. Herzer, D., Klasen, S. and Nowak-Lehmann, D.F. (2008), “In search of FDI-led growth in developing countries: the way forward”, Economic Modelling, Vol. 25 No. 5, pp. 793-810. Hsiao, F.S.T. and Hsiao, M.C.W. (2006), “FDI, exports, and GDP in East and Southeast Asia–panel data versus time-series causality analyses”, Journal of Asian Economics, Vol. 17 No. 6, pp. 1082-1106. Iamsiraroj, S. and Ulubas¸oglu, M.A. (2015), “Foreign direct investment and economic growth: a real relationship or wishful thinking?”, Economic Modelling, Vol. 51, pp. 200-213. Javorcik, B.S. and Spatareanu, M. (2005), “Disentangling FDI spillover effects: what do firm perceptions tell us?”, Does Foreign Direct Investment Promote Development?, Institute for International Economics, Washington, D.C.. Javorcik, B.S. and Spatareanu, M. (2009), “Liquidity constraints and firms’ linkages with multinationals”, The World Bank Economic Review, Vol. 23 No. 2, pp. 323-346. Jude, C. and Levieuge, G. (2017), “Growth effect of foreign direct investment in developing economies: the role of institutional quality”, The World Economy, Vol. 40 No. 4, pp. 715-742. Law, S.H. and Singh, N. (2014), “Does too much finance harm economic growth?”, Journal of Banking and Finance, Vol. 41, pp. 36-44. Levine, R. (2004), “Finance and Growth: Theory and Evidence”, Working Paper No. 10766, Working Paper Series, National Bureau of Economic Research, Cambridge, MA. Mahmoodi, M. and Mahmoodi, E. (2016), “Foreign direct investment, exports and economic growth: evidence from two panels of developing countries”, Economic Research-Ekonomska Istra zivanja, Vol. 29 No. 1, pp. 938-949. Makiela, K. and Ouattara, B. (2018), “Foreign direct investment and economic growth: exploring the transmission channels”, Economic Modelling, Vol. 72, pp. 296-305. Moran, T.H. (1978), “Multinational corporations and dependency: a dialogue for dependentistas and non-dependentistas”, International Organization, Vol. 32 No. 1, pp. 79-100. Omay, T. and Oznur Kan, E. (2010),€ “Re-examining the threshold effects in the inflation–growth nexus with cross-sectionally dependent non-linear panel: evidence from six industrialized economies”, Economic Modelling, Vol. 27 No. 5, pp. 996-1005. JED 23,2 160 Pradhan, R.P., Arvin, M.B. and Hall, J.H. (2019), “ The nexus between economic growth, stock market depth, trade openness, and foreign direct investment: the case of ASEAN countries” , The Singapore Economic Review, Vol. 64 No. 3, pp. 461-493. Rachdi, H. and Brahim, M. (2014), “Foreign direct investment, institutions and economic growth: evidence from the MENA region”, Journal of Reviews on Global Economics, Vol. 3, pp. 328-339. Smelser, N.J. and Baltes, P.B. (Eds) (2001), International Encyclopedia of the Social and Behavioral Sciences, 1st ed., Elsevier, New York, NY. Yeboua, K. (2019), “Foreign direct investment, financial development and economic growth in Africa: evidence from threshold modeling”, Transnational Corporations Review, Vol. 11 No. 3, pp. 179-189. | |
Bộ sưu tập | 02. Tạp chí (Tiếng Anh) | |
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| Trường DC | Giá trị | Ngôn ngữ |
|---|---|---|
| dc.contributor.author | Ha, Thi An Thu | |
| dc.contributor.other | Kuo-Chun Yeh | |
| dc.date.accessioned | 2023-11-01T10:24:07Z | - |
| dc.date.available | 2023-11-01T10:24:07Z | - |
| dc.date.issued | 2021 | |
| dc.identifier.isbn | 1989-0020 | |
| dc.identifier.uri | https://dlib.neu.edu.vn/handle/NEU/58679 | - |
| dc.description | Economic Investment | |
| dc.description.abstract | Purpose – The purpose of this study is to examine the effect of foreign direct investment (FDI) on economic growth contingent on the development level of the local financial system in emerging and developing Asia during the period 1996–2017. Design/methodology/approach – The study adopts the threshold approach, namely the panel smooth transition regression (PSTR) model, for the annual data collection of 18 emerging and developing Asian countries in 22 years. The authors analyze the alternative PSTR models on different proxies of financial development (FD). Findings – The results show new findings of two distinct thresholds of FD in the FDI–growth nexus. The growth-enhancing effect of FDI is realized only when the FD lies between the two threshold values. Notably, at very high levels of FD, the beneficial effect of FDI on growth is vanishing. Originality/value – The authors provide new insights into the growth effect of FDI and the role of FD. The estimated nonlinear effect of FDI on growth and the thresholds of FD can be benchmarks for emerging and developing Asia in assessment of their situations. The results suggest important implications to the region in setting the long-run policies to boost the effect of FDI on economic growth. | |
| dc.description.tableofcontents | 1. Introduction Literature review Methodology Data Empirical results Conclusions | |
| dc.format.extent | Khổ 21 x 29.7 | |
| dc.language.iso | en | |
| dc.publisher | Kinh Tế Quốc Dân | |
| dc.subject | Foreign direct investment | |
| dc.subject | Financial development | |
| dc.subject | Economic growth | |
| dc.subject | Emerging and developing Asia | |
| dc.subject | Panel smooth transition regression | |
| dc.title | Growth effect of foreign direct investment and financial development: new insights from a threshold approach | |
| dc.type | Journal of Economics and Development | |
| dc.identifier.barcode | 10-1108_JED-08-2020-0108 | |
| dc.relation.reference | Abdul Bahri, E.N., Shaari Md Nor, A.H., Sarmidi, T. and Haji Mohd Nor, N.H. (2019), “ The role of financial development in the relationship between foreign direct investment and economic growth: a nonlinear approach” , Review of Pacific Basin Financial Markets and Policies, Vol. 22 No. 2, pp. 1950009-1-1950009-32. Adams, S. (2009), “Foreign Direct investment, domestic investment, and economic growth in SubSaharan Africa”, Journal of Policy Modeling, Vol. 31 No. 6, pp. 939-949. Agbloyor, E.K., Gyeke-Dako, A., Kuipo, R. and Abor, J.Y. (2016), “Foreign direct investment and economic growth in SSA: the role of institutions”, Thunderbird International Business Review, Vol. 58 No. 5, pp. 479-497. Alfaro, L., Chanda, A., Kalemli-Ozcan, S. and Sayek, S. (2004), “FDI and economic growth: the role of local financial markets”, Journal of International Economics, Vol. 64 No. 1, pp. 89-112. Alfaro, L., Kalemli-Ozcan, S. and Sayek, S. (2009), “FDI, productivity and financial development”, World Economy, Vol. 32 No. 1, pp. 111-135. Alfaro, L., Chanda, A., Kalemli-Ozcan, S. and Sayek, S. (2010), “Does foreign direct investment promote growth? Exploring the role of financial markets on linkages”, Journal of Development Economics, Vol. 91 No. 2, pp. 242-256. Alguacil, M., Cuadros, A. and Orts, V. (2011), “Inward FDI and growth: the role of macroeconomic and institutional environment”, Journal of Policy Modeling, Vol. 33 No. 3, pp. 481-496. Alvarado, R., Iniguez, M. and Ponce, P. (2017),~ “Foreign direct investment and economic growth in Latin America”, Economic Analysis and Policy, Vol. 56, pp. 176-187. An, T.H.T. and Yeh, K.C. (2020), “Determinants of Taiwan’s outward investment in Southeast Asia: economic factors and institutional issues”, Pacific Economic Review, pp. 1-38, doi: 10.1111/1468- 0106.12348. Arcand, J.L., Berkes, E. and Panizza, U. (2015), “Too much finance?”, Journal of Economic Growth, Vol. 20 No. 2, pp. 105-148. Azman-Saini, W.N.W., Baharumshah, A.Z. and Law, S.H. (2010a), “Foreign direct investment, economic freedom and economic growth: international evidence”, Economic Modelling, Vol. 27 No. 5, pp. 1079-1089. Azman-Saini, W.N.W., Law, S.H. and Ahmad, A.H. (2010b), “FDI and economic growth: new evidence on the role of financial markets”, Economics Letters, Vol. 107 No. 2, pp. 211-213. Baharumshah, A.Z., Slesman, L. and Devadason, E.S. (2017), “Types of foreign capital inflows and economic growth: new evidence on role of financial markets”, Journal of International Development, Vol. 29 No. 6, pp. 768-789. Caner, M. and Hansen, B.E. (2004), “Instrumental variable estimation of a threshold model”, Econometric Theory, Vol. 20 No. 5, pp. 813-843. Carbonell, J.B. and Werner, R.A. (2018), “Does foreign direct investment generate economic growth? A new empirical approach applied to Spain”, Economic Geography, Vol. 94 No. 4, pp. 425-456. Cardoso, F.H. and Faletto, E. (1979), Dependency and Development in Latin America, University of California Press, Berkeley and Los Angeles, California, CA. Chen, J. and Quang, T. (2014), “The impact of international financial integration on economic growth: new evidence on threshold effects”, Economic Modelling, Vol. 42, pp. 475-489. Colletaz, G. and Hurlin, C. (2008), “Threshold Effects in the Public Capital Productivity: An International Panel Smooth Transition Approach”, LEO Working Paper No. 1669, Orleans Economics Laboratory, University of Orleans, Orl eans. Delgado, M.S., McCloud, N. and Kumbhakar, S.C. (2014), “A generalized empirical model of corruption, foreign direct investment, and growth”, Journal of Macroeconomics, Vol. 42, pp. 298-316. Growth effect of foreign direct investment 159 Fouquau, J., Hurlin, C. and Rabaud, I. (2008), “ The Feldstein–Horioka puzzle: a panel smooth transition regression approach” , Economic Modelling, Vol. 25 No. 2, pp. 284-299. G€onel, F. and Aksoy, T. (2016), “Revisiting FDI-led growth hypothesis: the role of sector characteristics”, The Journal of International Trade and Economic Development, Vol. 25 No. 8, pp. 1144-1166. Goh, S.K., Sam, C.Y. and McNown, R. (2017), “Re-examining foreign direct investment, exports, and economic growth in asian economies using a bootstrap ARDL test for cointegration”, Journal of Asian Economics, Vol. 51, pp. 12-22. Gonzalez, A., Terasvirta, T. and van Dijk, D. (2005), Panel Smooth Transition Regression Models (Research Paper No. 165), Quantitative Finance Research Centre, University of Technology, Sydney. Gonzalez, A., Terasvirta, T., van Dijk, D. and Yang, Y. (2017), Panel Smooth Transition Regression Models, Updated version of the Working Paper No. 604, SSE/EFI Working Paper Series in Economics and Finance, Stockholm School of Economics, Stockholm. Hansen, B.E. (1999), “Threshold effects in non-dynamic panels: estimation, testing, and inference”, Journal of Econometrics, Vol. 93 No. 2, pp. 345-368. Hansen, B.E. (2000), “Sample splitting and threshold estimation”, Econometrica, Vol. 68 No. 3, pp. 575-603. Hermes, N. and Lensink, R. (2003), “Foreign direct investment, financial development and economic growth”, Journal of Development Studies, Vol. 40 No. 1, pp. 142-163. Herzer, D. (2012), “How does foreign direct investment really affect developing countries’ growth?”, Review of International Economics, Vol. 20 No. 2, pp. 396-414. Herzer, D., Klasen, S. and Nowak-Lehmann, D.F. (2008), “In search of FDI-led growth in developing countries: the way forward”, Economic Modelling, Vol. 25 No. 5, pp. 793-810. Hsiao, F.S.T. and Hsiao, M.C.W. (2006), “FDI, exports, and GDP in East and Southeast Asia–panel data versus time-series causality analyses”, Journal of Asian Economics, Vol. 17 No. 6, pp. 1082-1106. Iamsiraroj, S. and Ulubas¸oglu, M.A. (2015), “Foreign direct investment and economic growth: a real relationship or wishful thinking?”, Economic Modelling, Vol. 51, pp. 200-213. Javorcik, B.S. and Spatareanu, M. (2005), “Disentangling FDI spillover effects: what do firm perceptions tell us?”, Does Foreign Direct Investment Promote Development?, Institute for International Economics, Washington, D.C.. Javorcik, B.S. and Spatareanu, M. (2009), “Liquidity constraints and firms’ linkages with multinationals”, The World Bank Economic Review, Vol. 23 No. 2, pp. 323-346. Jude, C. and Levieuge, G. (2017), “Growth effect of foreign direct investment in developing economies: the role of institutional quality”, The World Economy, Vol. 40 No. 4, pp. 715-742. Law, S.H. and Singh, N. (2014), “Does too much finance harm economic growth?”, Journal of Banking and Finance, Vol. 41, pp. 36-44. Levine, R. (2004), “Finance and Growth: Theory and Evidence”, Working Paper No. 10766, Working Paper Series, National Bureau of Economic Research, Cambridge, MA. Mahmoodi, M. and Mahmoodi, E. (2016), “Foreign direct investment, exports and economic growth: evidence from two panels of developing countries”, Economic Research-Ekonomska Istra zivanja, Vol. 29 No. 1, pp. 938-949. Makiela, K. and Ouattara, B. (2018), “Foreign direct investment and economic growth: exploring the transmission channels”, Economic Modelling, Vol. 72, pp. 296-305. Moran, T.H. (1978), “Multinational corporations and dependency: a dialogue for dependentistas and non-dependentistas”, International Organization, Vol. 32 No. 1, pp. 79-100. Omay, T. and Oznur Kan, E. (2010),€ “Re-examining the threshold effects in the inflation–growth nexus with cross-sectionally dependent non-linear panel: evidence from six industrialized economies”, Economic Modelling, Vol. 27 No. 5, pp. 996-1005. JED 23,2 160 Pradhan, R.P., Arvin, M.B. and Hall, J.H. (2019), “ The nexus between economic growth, stock market depth, trade openness, and foreign direct investment: the case of ASEAN countries” , The Singapore Economic Review, Vol. 64 No. 3, pp. 461-493. Rachdi, H. and Brahim, M. (2014), “Foreign direct investment, institutions and economic growth: evidence from the MENA region”, Journal of Reviews on Global Economics, Vol. 3, pp. 328-339. Smelser, N.J. and Baltes, P.B. (Eds) (2001), International Encyclopedia of the Social and Behavioral Sciences, 1st ed., Elsevier, New York, NY. Yeboua, K. (2019), “Foreign direct investment, financial development and economic growth in Africa: evidence from threshold modeling”, Transnational Corporations Review, Vol. 11 No. 3, pp. 179-189. | |
Bộ sưu tập | 02. Tạp chí (Tiếng Anh) | |
