The Impact of Foreign Direct Investment on Economic Growth in the MENA Region

Izmir Iktisat Dergisi Pub Date : 2022-09-21 DOI:10.24988/ije.1130692

F. Ebghaei

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Abstract

Economic growth is one of the basic objectives of countries' economic programs, which is influenced by various factors such as the amount of capital available. Attracting capital and foreign direct investment is an important way to accelerate the economy towards development and job creation, which can be considered an engine of economic growth and development. Considering the special importance of foreign direct investment (FDI) in economic growth, this article examines the impact of FDI on economic growth. For this purpose, the data of some countries in the Middle East and North Africa (Egypt, Saudi Arabia, Morocco, Jordan, Tunisia, Iran, Turkey, and Yemen) were selected for the period from 1980 to 2020. A second-generation panel cointegration method was used to achieve the study's objective. According to the results, the impact of FDI on economic growth in Egypt, Saudi Arabia, Morocco, Tunisia, Turkey, and Yemen during the study period is positive and statistically significant. In Jordan and Iran, FDI was found to have no impact on economic growth. Moreover, the impact of capital stock and labor on the economic growth of member countries is positive and significant, except in Tunisia, Egypt, Jordan, and Yemen.

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外商直接投资对中东和北非地区经济增长的影响

经济增长是各国经济计划的基本目标之一，它受到各种因素的影响，如可用资本的数量。吸引资本和外国直接投资是加速经济走向发展和创造就业的重要途径，这可以被视为经济增长和发展的引擎。考虑到外国直接投资在经济增长中的特殊重要性，本文考察了外国直接投资对经济增长的影响。为此，选取了1980年至2020年期间中东和北非一些国家(埃及、沙特阿拉伯、摩洛哥、约旦、突尼斯、伊朗、土耳其和也门)的数据。采用第二代面板协整方法来实现研究目标。结果表明，在研究期间，埃及、沙特阿拉伯、摩洛哥、突尼斯、土耳其和也门的FDI对经济增长的影响是正的，且具有统计学意义。在约旦和伊朗，发现外国直接投资对经济增长没有影响。此外，除了突尼斯、埃及、约旦和也门，资本存量和劳动力对成员国经济增长的影响都是显著的。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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