THE RELATIONSHIP BETWEEN FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH: THE CASE OF GUATEMALA
- 발행기관 아주대학교
- 발행년도 2011
- 제출일 2011-06-28
- 학위수여년월 2011. 8
- 학위명 석사
- 학과 국제대학원 국제통상학과
- 실제URI http://www.dcollection.net/handler/ajou/000000011862
- 본문언어 영어
- 저작권 아주대학교 논문은 저작권에 의해 보호받습니다.
초록/요약
During the last few decades Foreign Direct Investment (FDI) has been considered as a key driver for economic growth especially for developing countries which are working to attract FDI through changes in laws, tax incentives, special tariffs, among others and Guatemala has not been an exception. With a long history of FDI attraction, many changes have taken place in the country to improve the investment environment attracting FDI from many countries to different sectors such as manufacturing, services and telecommunications but whether FDI really contributes to the economic growth of the country has been still a controversial issue. The aim of this paper is to examine the causal relationship between FDI and economic growth in Guatemala using data from 1980 to 2009 with the Modified WALD (MWALD) test suggested by Toda and Yamamoto (1995). The empirical findings show that FDI does not have an impact on Guatemala？s economic growth whereas the economic growth of the country has an impact on FDI.
more목차
TABLE OF CONTENTS - i
List of Text - i
List of Figures - iii
List of Tables - iii
List of Abbreviations - iv
CHAPTER 1: INTRODUCTION - 1
1.1. Statement of the Problem - 3
1.2. Purpose of the Study - 4
1.3. Theoretical Perspective - 4
1.4. Research Questions - 5
CHAPTER 2: BACKGROUND - 7
2.1. History and Trends - Worldwide Perspective - 7
2.1.1. Historical Background - 7
2.1.2. Outflows - 9
2.1.3. Inflows - 9
2.2. History and Trends - Guatemalan Perspective - 11
2.2.1. Historical Background - 11
2.2.2. FDI Inflows by Country of Origin - 13
2.2.3. FDI Inflows by Sector - 15
2.2.3.1. Agriculture and Mining - 15
2.2.3.2. Telecommunications - 16
2.2.3.3. Electricity - 17
2.2.3.4. Manufacturing - 17
2.2.3.5. Commerce and Finance - 19
2.2.3.6. Services - 19
CHAPTER 3: POSSIBLE LINKAGES BETWEEN FDI AND ECONOMIC GROWTH - 22
3.1. FDI and a Positive Impact on Economic Growth - 23
3.2. FDI and a Negative Impact on Economic Growth - 25
3.3. FDI and No Impact on Economic Growth - 26
3.4. FDI and A Bidirectional Relationship with Economic Growth - 28
CHAPTER 4: METHODOLOGY - 31
4.1. Methodology - 31
4.2. Data Description - 33
4.3. Estimation Procedure and Empirical Results - 34
CHAPTER 5: CONCLUSIONS AND RECOMMENDATIONS - 37
5.1. Conclusions - 37
5.2. Recommendations - 39
BIBLIOGRAPHY - 41
APPENDIX - vi
Appendix 1: Guatemala Data Set - vi
