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Growth and Foreign Direct Investment in the Pacific Island countries

Feeny, Simon, Iamsiraroj, Sasi and McGillivray, Mark 2014, Growth and Foreign Direct Investment in the Pacific Island countries, Economic modelling, vol. 37, pp. 332-339, doi: 10.1016/j.econmod.2013.11.018.

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Title Growth and Foreign Direct Investment in the Pacific Island countries
Author(s) Feeny, Simon
Iamsiraroj, Sasi
McGillivray, Mark
Journal name Economic modelling
Volume number 37
Start page 332
End page 339
Total pages 8
Publisher Elsevier
Place of publication Amsterdam, The Netherlands
Publication date 2014-02
ISSN 0264-9993
1873-6122
Keyword(s) Foreign Direct Investment
economic growth
Pacific
Social Sciences
Economics
Business & Economics
LONG-RUN GROWTH
ECONOMIC-GROWTH
DEVELOPING STATES
AID
FLOWS
FDI
INEQUALITY
MODELS
TRADE
Summary Achieving sustained high rates of economic growth in Pacific countries has proved incredibly challenging. Despite many being rich in natural resources, receiving high levels of foreign aid and being open to external trade, the economic growth rates of Pacific Island countries are the lowest and most volatile for all groups of developing countries. This paper examines the impact of Foreign Direct Investment (FDI) to the Pacific region. Results from the estimation of a number of empirical models suggest that the impact of FDI is lower in Pacific countries than it is in host countries on average. A 10% increase in the ratio of FDI to host Gross Domestic Product (GDP) is associated with higher growth of about 2% in all countries on average. The impact in Pacific countries falls to between 0.1 and 0.4%. A number of explanations for this finding are provided including some empirical evidence that FDI displaces domestic investment in the region.
Language eng
DOI 10.1016/j.econmod.2013.11.018
Field of Research 160505 Economic Development Policy
140202 Economic Development and Growth
1402 Applied Economics
1403 Econometrics
1502 Banking, Finance And Investment
Socio Economic Objective 970116 Expanding Knowledge through Studies of Human Society
HERDC Research category C1.1 Refereed article in a scholarly journal
Grant ID LP110200746
Copyright notice ©2013, Elsevier
Persistent URL http://hdl.handle.net/10536/DRO/DU:30084567

Document type: Journal Article
Collection: Alfred Deakin Research Institute
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