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Carkovic, M., & Levine, R. (2005). Does Foreign Direct Investment Accelerate Economic Growth, in Institute for International Economics. Working Paper, University of Minnesota, Department of Finance.

has been cited by the following article:

• TITLE: The Impact of Foreign Direct Investment on Economic Growth: An Evidence from Asian Countries 1995-2021

  AUTHORS: Bahodurov Jamshed, Jun Yang, Hoshimov Vatanjon, Dejene Adugna Chomen, Nouhad Alsaoub

  KEYWORDS: Foreign Direct Investment, Economic Growth, Asian Countries

  JOURNAL NAME: American Journal of Industrial and Business Management, Vol.14 No.12, December 31, 2024

  ABSTRACT: This study investigates the impact of foreign direct investment (FDI) on the economic growth of Asian countries. Using panel data from 1995 to 2021 (27 years) covering 45 Asian countries, the study employed the PP-Fisher and Fisher-ADF tests for the unit root test. In all cases, the null hypotheses propose that series have a unit root, in contrast to the alternative hypothesis that state series is stationary. After checking the stationarity of the variables, various panel static models such as Pooled Ordinary Least square (POLS), Random Effect Model (REM), and Fixed Effects Model (FEM) have been carried out. Furthermore, in order to ensure and correct the problem of heterosedesticity, the robustness of the findings has also been done. Finally, to solve the problem of endogeneity issue, this study used the two system GMM approaches. The findings of this study contribute to the growing literature of FDI and provide more compressive conclusions and recommendations on the impact of FDI on economic growth particularly in the context of Asian countries.