Foreign Direct Investments In The Financial Sector
- Topics:
- Foreign Direct Investment
- Tags:
- Currency & Foreign Exchange,
- Vienna University,
- Operational Accounting,
- Mergers & Acquisitions,
- Investment,
- Human Resources,
- Human Capital,
- Growth,
- FSFDI,
- Foreign Direct Investment (FDI),
- ...
- Source:
- Vienna University
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Overview: This paper examines the impact of Financial-Sector Foreign Direct Investment (FSFDI) on economic growth by estimating a panel data model for 11 Central and Eastern European countries (CEECs) between 1994 and 2003 in a cross-country growth accounting framework. The analysis concentrates on the efficiency channel linking FSFDI to economic growth. The results clearly indicate that there can be a relationship between FSFDI and economic growth - depending on a careful examination of lagged, hump-shaped or interacted effects of FSFDI. Approaching a medium degree of financial M&A is rewarded by higher economic growth after two periods. Beyond it, FSFDI seems to spur economic growth depending on a higher human capital stock.
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Format: PDF | Size: 608KB | Date: Oct 2005 | Pages: 26






