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Journal of Positive Management

SOCIAL EFFECTS OF FOREIGN DIRECT INVESTMENTS: A PANEL CAUSALITY ANALYSIS FOR THE CASE OF THE CEE
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  • SOCIAL EFFECTS OF FOREIGN DIRECT INVESTMENTS: A PANEL CAUSALITY ANALYSIS FOR THE CASE OF THE CEE
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SOCIAL EFFECTS OF FOREIGN DIRECT INVESTMENTS: A PANEL CAUSALITY ANALYSIS FOR THE CASE OF THE CEE

Autor

  • Robert Matusiak Nicolaus Copernicus University, Faculty of Economic Sciences and Management, Toruń

DOI:

https://doi.org/10.12775/JPM.2018.143

Słowa kluczowe

foreign direct investment, social effect, dynamic panel, panel causality, Central and Eastern Europe

Abstrakt

Purpose: The paper focus specifically on the impact of FDI and its contribution to the effectiveness of spending, a review of literature has revealed many attempts to evaluate the determinants of spending (i.e., education, health, and R&D). This study offers a modern approach to FDI and investigates the causal relationship between FDI and social effect in the Central and Eastern Europe.
Methodology: The study uses panel var for the period 2004-2015, and adopts a panel Granger causality analysis developed by Dumitrescu and Hurlin (2012) to assess the contribution FDI makes to social effect. The data were analysed with the use of R- Cran 3.5.1 (library: panelvar, plm).
Implications: Modelling these circumstances may be a potential direction for future studies aimed at investigating the causality between FDI and social effect in the CEE.

Bibliografia

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Asteriou, D., Agiomirgianakis, G.M. (2001), ”Human capital and economic growth: time series evidence from Greece”, Journal of Policy Modeling, Vol. 23 No. 5, pp. 481-489.

Bai, J., Kao, C. (2006), “On the estimation and inference of a panel cointegration model with cross-sectional dependence”, in: Baltagi, B.H. (Ed.), Panel data econometrics: theoretical contributions and empirical applications, Elsevier, Amsterdam, pp. 3-30.

Białek, Ł. (2012), „Przegląd bezpośrednich inwestycji zagranicznych w Europie Środkowej i Wschodniej”, Bulletin of Central and Eastern Europe - pulse of the region, No. 3, pp. 2-41.

Borensztein, E., De Gregorio, J., Lee, J.W. (1998), “How does foreign investment affect growth?”, Journal of International Economics, Vol. 45 No. 1, pp. 115-135.

Chang, R., Kaltani, L., Loayza, N. (2009), “Openness can be good for growth: The role of policy complementarities”, Journal of Development Economics, Vol. 90 No. 1, pp. 33-49.

Durham, B. (2004), “Absorptive capacity and the effects of foreign direct investment and equity foreign portfolio investment on economic growth”, European Economic Review, Vol. 48 No. 2, pp. 285-306.

Gemmell, N., Kneller, R., Sanz, I. (2008), “Foreign investment, international trade and the size and structure of public expenditures”, European Journal of Political Economy, Vol. 24 No. 1, pp. 151-171.

Griffith, R., Harrison, R., Van Reenen, J. (2006), “How Special Is the Special Relationship? Using the Impact of U.S. R&D Spillovers on U.K. Firms as a Test of Technology Sourcing”, American Economic Review, Vol. 96 No. 5, pp. 1859-1875.

Hansen, B.E. (1995b), “Rethinking the Univariate Approach to Unit Root Testing: Using Covariates to Increase Power”, Econometric Theory, Vol. 11 No.5, pp. 1148-1171.

Hecock, R.D. (2006), “Electoral competition, globalization, and subnational education spending in Mexico 1999–2004”, American Journal of Political Science, Vol. 50 No. 4, pp. 950-961.

Hecock, R.D., Jepsen, E.M. (2013), “Should countries engage in a race to the bottom? The effect of social spending on FDI”, World Development, No. 44, pp. 156–164.

Huber, E., Mustillo, T., Stephens, J.D. (2008), “Politics and social spending in Latin America”, The Journal of Politics, Vol. 70 No. 2, pp. 420-436.

Love, I., Zicchino, L. (2006), “Financial development and dynamic investment behavior: evidence from panel VAR”, The Quarterly Review of Economics and Finance, Vol. 46 No. 2, pp. 190–210.

Makki, S., Agapi S. (2004), “Impact of Foreign Direct Investment and Trade on Economic Growth: Evidence from Developing Countries”, American Journal of Agricultural Economics, Vol. 86 No. 3, pp. 795-801.

Park, S.-D. (2018), “The Nexus of FDI, R&D, and Human Capital on Chinese Sustainable Development: Evidence from a Two-Step Approach”, Sustainability, Vol. 10 No. 6, p. 1-23.

Pesaran, M.H. (2004), “General diagnostic tests for cross section dependence in panels”, Cambridge working papers in economics, No. 0435.

Sigmund, M., Ferstl, R. (2017), “Panel Vector Autoregression in R with the package panelvar”, SSRN Electronic Journal.

Xu, B. (2000), “Multinational enterprises, technology diffusion, and host country productivity growth”, Journal of Development Economics, Vol. 62 No. 2, pp. 477-493.

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Journal of Positive Management

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2019-07-05

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1.
MATUSIAK, Robert. SOCIAL EFFECTS OF FOREIGN DIRECT INVESTMENTS: A PANEL CAUSALITY ANALYSIS FOR THE CASE OF THE CEE. Journal of Positive Management [online]. 5 lipiec 2019, T. 9, nr 2, s. 74–88. [udostępniono 8.7.2025]. DOI 10.12775/JPM.2018.143.
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Articles submitted to the journal should not have been published before in their current or substantially similar form, or be under consideration for publication with another journal. Authors submitting articles for publication warrant that the work is not an infringement of any existing copyright and will indemnify the publisher against any breach of such warranty. For ease of dissemination and to ensure proper policing of use, papers and contributions become the legal copyright of the publisher unless otherwise agreed.

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