期刊名称：International Journal of Economics and Finance
印刷版ISSN：1916-971X
电子版ISSN：1916-9728
出版年度：2014
卷号：2
期号：2
页码：168
DOI：10.5539/ijef.v2n2p168
语种：English
出版社：Canadian Center of Science and Education
摘要：Normal 0 21 false false false FR-CA X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Tableau Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} The aim of this paper is to re-examine the relationship between foreign direct investment and economic growth in the case of ten Sub-Saharan African countries. To this end, we use two newly econometric approaches, namely the Pesaran et al. (2001) approach to cointegration and the procedure for non-causality test of Toda and Yamamoto (1995). We use data from the 2008 World Investment Report dataset of the UNCTAD, the African Development Bank (2008) and the World Bank (2008) from 1970 to 2007. We show that there is a positive long-run relationship between foreign direct investment and economic growth in Angola, Cote d'Ivoire and Kenya. Moreover, foreign direct investment significantly causes economic growth in these three countries.
