Revisiting the nexus among foreign direct investment, corruption and growth in developing and developed markets

Borsa Istanbul Review - Tập 21 - Trang 80-91 - 2021
Fiza Qureshi1,2, Saba Qureshi2, Xuan Vinh Vo3, Ikramuddin Junejo4
1Institute of Business Research, University of Economics Ho Chi Minh City, 59C Nguyen Dinh Chieu Street, District 3, Ho Chi Minh City, Viet Nam
2Institute of Business Administration, University of Sindh, Jamshoro, Pakistan
3Institute of Business Research and CFVG Ho Chi Minh City, University of Economics Ho Chi Minh City, 59C Nguyen Dinh Chieu Street, District 3, Ho Chi Minh City, Viet Nam
4Department of Management Sciences, SZABIST, Hyderabad Campus, Pakistan

Tài liệu tham khảo

Akinlo, 2004, Foreign direct investment and growth in Nigeria: An empirical investigation, Journal of Policy Modeling, 26, 627, 10.1016/j.jpolmod.2004.04.011 Alemu, 2012, Effects of corruption on FDI inflow in Asian economies, Seoul Journal of Economics, 25, 387 Anwar, 2011, Financial development, foreign investment and economic growth in Malaysia, Journal of Asian Economics, 22, 335, 10.1016/j.asieco.2011.04.001 Arellano, 1991, Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations, The Review of Economic Studies, 58, 277, 10.2307/2297968 Bajra, 2020, Frontier economies and economic growth: Evidence from european and central asian countries, Borsa Istanbul Review, 10.1016/j.bir.2020.04.002 Beck, 1986, A comparison of bribery and bidding in thin markets, Economics Letters, 20, 1, 10.1016/0165-1765(86)90068-6 Belgibayeva, 2019, Does corruption matter for sources of foreign direct investment?, Review of World Economics, 155, 487, 10.1007/s10290-019-00354-1 Bellos, 2012, Corruption and foreign direct investment: A panel gravity model approach, Bulletin of Economic Research, 64, 565, 10.1111/j.1467-8586.2010.00370.x Ben Jelili, 2020, Does foreign direct investment affect growth in mena countries? A semi-parametric fixed-effects approach, Middle East Development Journal, 1 Bengoa, 2003, Foreign direct investment, economic freedom and growth: New evidence from Latin America, European Journal of Political Economy, 19, 529, 10.1016/S0176-2680(03)00011-9 Bernanke, 1990 Borensztein, 1998, How does FDI affect economic growth, Journal of International Economics, 45, 115, 10.1016/S0022-1996(97)00033-0 Brada, 2012, The effect of home-country and host-country corruption on foreign direct investment, Review of Development Economics, 16, 640, 10.1111/rode.12009 Buchanan, 2012, Foreign direct investment and institutional quality: Some empirical evidence, International Review of Financial Analysis, 21, 81, 10.1016/j.irfa.2011.10.001 Carkovic, 2005, 195 Chan, 1993, Disaggregation of annual time-series data to quarterly figures: A comparative study, Journal of Forecasting, 12, 677, 10.1002/for.3980120816 Cieślik, 2018, Control of corruption, international investment, and economic growth–evidence from panel data, World Development, 103, 323, 10.1016/j.worlddev.2017.10.028 Craigwell, 2011, Foreign direct investment and corruption in developing economies: Evidence from linear and nonlinear panel Granger causality tests, Economics Bulletin, 31, 2272 Dabour, 2000, The role of foreign direct investment (FDI) in development and growth in OIC member countries, Journal of Economic Cooperation, 21, 27 Dissou, 2012, Corruption, growth, and taxation, Theoretical Economics Letters, 2, 62, 10.4236/tel.2012.21011 Doytch, 2019, Spillovers from foreign direct investment in services: Evidence at sub-sectoral level for the Asia-Pacific, Journal of Asian Economics, 60, 33, 10.1016/j.asieco.2018.10.003 Dutt, 1997, The pattern of direct foreign investment and economic growth, World Development, 25, 1925, 10.1016/S0305-750X(97)00081-8 Ehrlich, 1999, Bureaucratic corruption and endogenous economic growth, Journal of Political Economy, 107, S270, 10.1086/250111 Farooq, 2013, Does corruption impede economic growth in Pakistan?, Economic Modelling, 35, 622, 10.1016/j.econmod.2013.08.019 Freckleton, 2012, Economic growth, foreign direct investment and corruption in developed and developing countries, Journal of Economics Studies, 39, 639, 10.1108/01443581211274593 Godinez, 2015, Corruption distance and FDI flows into Latin America, International Business Review, 24, 33, 10.1016/j.ibusrev.2014.05.006 Gossel, 2018, FDI, democracy and corruption in sub-saharan Africa, Journal of Policy Modeling, 40, 647, 10.1016/j.jpolmod.2018.04.001 Gründler, 2019, Corruption and economic growth: New empirical evidence, European Journal of Political Economy, 60, 101810, 10.1016/j.ejpoleco.2019.08.001 Hakimi, 2017, Does corruption limit FDI and economic growth? Evidence from MENA countries, International Journal of Emerging Markets, 12, 550, 10.1108/IJoEM-06-2015-0118 Hakkala, 2008, Asymmetric effects of corruption on FDI: Evidence from Swedish multinational firms, The Review of Economics and Statistics, 90, 627, 10.1162/rest.90.4.627 Hamdi, 2019, Corruption, FDI, and growth: An empirical investigation into the Tunisian context, International Trade Journal, 1 Hayat, 2019, Foreign direct investments, institutional quality, and economic growth, Journal of International Trade & Economic Development, 28, 561, 10.1080/09638199.2018.1564064 Helmy, 2013, The impact of corruption on FDI: Is MENA an exception?, International Review of Applied Economics, 27, 491, 10.1080/02692171.2012.752445 Hermes, 2003, Foreign direct investment, financial development and economic growth, Journal of Development Studies, 40, 142, 10.1080/00220380412331293707 Jalil, 2016, Is corruption good or bad for FDI? Empirical evidence from asia, africa and Latin america, Panoeconomicus, 63, 259, 10.2298/PAN1603259J Leff, 1964, Economic development through bureaucratic corruption, American Behavioral Scientist, 8, 8, 10.1177/000276426400800303 Li, 2009, Democracy, autocracy, and expropriation of foreign direct investment, Comparative Political Studies, 42, 1098, 10.1177/0010414009331723 Li, 2005, Foreign direct investment and economic growth: An increasingly endogenous relationship, World Development, 33, 393, 10.1016/j.worlddev.2004.11.001 Li, 2003, Reversal of fortunes: Democratic institutions and foreign direct investment inflows to developing countries, International Organization, 57, 175, 10.1017/S0020818303571077 Li, 2000, Corruption, income distribution, and growth, Economics & Politics, 12, 155, 10.1111/1468-0343.00073 Love, 2006, Financial development and dynamic investment behavior: Evidence from panel VAR, The Quarterly Review of Economics and Finance, 46, 190, 10.1016/j.qref.2005.11.007 Lucke, 2016, Foreign direct investment: The role of institutional and cultural determinants, Applied Economics, 48, 935, 10.1080/00036846.2015.1090551 Malikane, 2017, Foreign direct investment, democracy and economic growth in southern africa, African Development Review, 29, 92, 10.1111/1467-8268.12242 Mathur, 2013, Foreign direct investment, corruption and democracy, Applied Economics, 45, 991, 10.1080/00036846.2011.613786 Mauro, 1995, Corruption and growth, Quarterly Journal of Economics, 110, 681, 10.2307/2946696 Mauro, 1997, The effect of corruption on growth, investment and government expenditure: A cross country analysis. Corruption and global economy, Journal of Public Economics, 69, 126 Mo, 2001, Corruption and economic growth, Journal of Comparative Economics, 29, 66, 10.1006/jcec.2000.1703 Mudambi, 2013, Government regulation, corruption, and FDI, Asia Pacific Journal of Management, 30, 487, 10.1007/s10490-012-9311-y Nam, 2020, The impact of corruption on the performance of newly established enterprises: Empirical evidence from a transition economy, Borsa Istanbul Review, 10.1016/j.bir.2020.05.006 Okada, 2014, How does corruption influence the effect of foreign direct investment on economic growth?, Global Economic Review, 43, 207, 10.1080/1226508X.2014.930671 Qureshi, 2019, The effect of monetary and fiscal policy on Bond mutual funds and stock market: An international comparison, Emerging Markets Finance and Trade, 55, 3112, 10.1080/1540496X.2018.1535432 Qureshi, 2019, Dynamics of mutual funds and stock markets in Asian developing economies, Journal of Asian Economics, 65, 101135, 10.1016/j.asieco.2019.101135 Ram, 2002, Foreign direct investment and economic growth: Evidence from cross-country data for the 1990s, Economic Development and Cultural Change, 51, 205, 10.1086/345453 Rock, 2004, The comparative politics of corruption: Accounting for the East asian paradox in empirical studies of corruption, growth and investment, World Development, 32, 999, 10.1016/j.worlddev.2003.12.002 Song, 2020, Economic growth, corruption, and financial development: Global evidence, Economic Modelling Son, 2020, Corruption, nonperforming loans, and economic growth: International evidence, Cogent Business & Management, 7, 1735691, 10.1080/23311975.2020.1735691 Ugur, 2014, Corruption's direct effects on per-capita income growth: A meta-analysis, Journal of Economic Surveys, 28, 472, 10.1111/joes.12035 Ugur, 2011 Wisniewski, 2014, Political environment and foreign direct investment: Evidence from OECD countries, European Journal of Political Economy, 36, 13, 10.1016/j.ejpoleco.2014.07.004 Yeboua, 2019, Foreign direct investment, financial development and economic growth in africa: Evidence from threshold modeling, Transnational Corporations Review, 11, 179, 10.1080/19186444.2019.1640014 Zakharov, 2019, Does corruption hinder investment? Evidence from Russian regions, European Journal of Political Economy, 56, 39, 10.1016/j.ejpoleco.2018.06.005