Bivariate causality analysis between FDI inflows and economic growth in Ghana

Joseph Magnus Frimpong · Eric Fosu Oteng-Abayie

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International Business and FDI Monetary Policy and Economic Impact Economic Growth and Productivity

Abstract

The main objective for this paper is to study the causal link between FDI and GDP growth for Ghana for the pre- and post-SAP periods. We also study the direction of causality between the two variables, based on the more robust Toda-Yamamoto (1995) Granger no-causality test which allows the Granger test in an integrated system. Annual time-series data covering the period 1970-2002 was used. The study finds no causality between FDI and growth for the total sample period and the pre-SAP period. FDI however caused GDP growth during the post-SAP period.

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References

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2019Endogenous specification of foreign capital inflows, human capital development and economic growth 2013Foreign Direct Investment Inflows and Economic Growth in Ghana 2012Relationship between FDI and Economic Growth in Selected Asian Countries: A Panel Data Analysis 2022More than just investment: Causality analysis between foreign direct investment and economic growth 2012Chinese foreign direct investment in Africa: Making sense of a new economic reality

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