外国资本流入对巴基斯坦经济增长的影响 英语论文 [8]
论文作者:英语论文论文属性:本科毕业论文 Thesis登出时间:2014-09-28编辑:yangcheng点击率:12219
论文字数:5729论文编号:org201409272332542998语种:英语 English地区:爱尔兰价格:免费论文
关键词:外国资本流入FCI多元线性回归巴基斯坦经济英语论文
摘要:本文是一篇分析外国资本流入对巴基斯坦经济增长的影响的留学生论文,外国资本流入(FCI)是经济增长的重要催化剂,特别是对资本稀缺的发展中国家,如巴基斯坦。它对于经济增长的影响有各式各样的渠道,比如通过增加人力资本的形成,通过促进东道国的技术转移,通过知识扩散,通过刺激国内投资,等等。
ct from FDI.
Athukorala and Menon (1995), Zhang and Felingham (2001) and Liu et al. (2001) find that FDI promotes the manufactured exports of recipient countries. Although there is no consensus regarding the relationship between FDI and GDP growth, to attract FDI as a
strategy of development has become a trend among developing countries following the development technology transfer effect (Campos and Kinoshita, 2002), Chakraborty and Basu (2002), for example, find that increase in Indian GDP is not Granger caused by increase in FDI. The causality between Indian GDP and FDI runs more from GDP to FDI. Yet, Balasubramanyam et al. (1996), drawing upon theoretical work of Bhagwati , argue that import-substitution FDI would lead to misallocation of resources. FDI plays a positive developmental role as mentioned by Chen (1992).
Narula and Dunning (2000) point out that the increased competition for FDI is more for the “right” kind of investment and less developed countries increasingly need to provide unique, non-replicable created assets to maintain a successful FDI-assisted development strategy.
The synopsis of recent studies tells us that FI (Foreign Investment) has a diversified impact on the economic growth of a country. It depends on various factors like, policies of a country, its trade regime, educational level, political stability etc. that whether the impact of FI will be negative or positive.
DATA AND METHODOLOGY
I will be using the research article of Ghulam Mohey-ud-Din of GC University, Lahore as my base article. He examined the impact of FCI on economic growth of Pakistan of twenty years from 1975-2004 in his paper. He took FDI (Foreign Direct Investment) and ODA (Official Development Assistance) as independent variables and measured its impact on GDP of Pakistan and used the Multiple Regression (without intercept) Model for his analysis. There are various problems in this paper. First of all the number of observations used for the empirical analysis are too small just twenty years of data has been taken. Secondly, he used the Multiple Regression Model without intercept which is not a suitable model because if intercept is not included the independent variables become stronger and shows a very strong result which can be misleading. In the multiple regression without intercept, the line is forced to pass from origin. Thirdly, Ghulam Mohey-ud-Din did not check the stationarity of data. I am using Multiple Regression (with intercept) Model and take FDI and ODA as my independent variables and will inspect the impact of FDI and ODA on GDP of Pakistan. I am taking 38 years of data from 1970 – 2007 for my analysis.
In the previous years many economists examined various factors and under took a variety of studies to gauge the impacts of foreign capital inflows (FCIs) on the economic growth of a country. And a very wide range of methods and variables were used to examine the role of foreign Capital Inflow on the economic growth. Some studies tell us positive results about the impact of FCI on economic growth and some other studies show us a negative relationship between FCI and economic growth. This relationship varies according to the situation, country and the variables taken under consideration. FCI has many forms like ODA, FDI, grants, loan, portfolio investment etc. each type of FCI depicts its own behavior on the economic development.
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