Tác động của Lãi suất Thực, Tỷ giá Hối đoái và Ổn định Chính trị đến Dòng vốn Đầu tư Trực tiếp Nước ngoài: Phân tích So sánh giữa các Quốc gia G7 và GCC

Achy, L. (2003). Financial liberalisation, saving, investment and growth in MENA countries. [Online]. http://www.mafhoum.com/press7/206E11.pdf. Accessed 1 Dec 2020. Afonso, O., Neves, P., & Pinto, T. (2020). The non-observed economy and economic growth: A meta-analysis. Economic Systems, 44(1), 100746. Ahrend, R., Catte, P. A., & Price, R. (2006). Interactions between monetary and fiscal policy: How monetary conditions affect fiscal consolidation. OECD Economics Working 2006/49. https://doi.org/10.2139/ssrn.1010655. Akaike, H. A. (1974). New look at the statistical model identification. IEEE Transactions on Automatic Control, 19, 716–723. Akinbobola, T. O., & Oyetayo, O. J. (2010). econometric analysis of real exchange rate and domestic output growth in Nigeria. International Journal of Academic Research, 2(5), 339–344. Alam, M. S., & Paramati, S. R. (2015). Do oil consumption and economic growth intensify environmental degradation? Evidence from developing economies. Applied Economics., 47(48), 5186–5203. Alesina, A., Özler, S., Roubini, N., & Swagel, P. (1996). Political instability and economic growth. Journal of Economic Growth, 1(2), 189–211. Alvarez Luis, H. R., & Koskela, E. (2004). Irreversible investment under interest rate variability: New results. Others 0404007, EconWPA Ammer, J., Claessens, S., Tabova, A., & Wroblewski, C. (2019). Home country interest rates and international investment in U.S. bonds. Journal of International Money and Finance, 95, 212–227. Asteriou, D., Dassiou, X., & Glycopantis, D. (2005). FDI and growth: Evidence from a panel of European transition Countries. Spoudai, 55, 9–30. Azid, T., Jamil, M., & Kousar, A. (2005). Impact of exchange rate volatility on growth and economic performance: A case study of Pakistan, 1973–2003. The Pakistan Development Review, Part II., 44(4), 749–775. Bader, M., & Malawi, A. I. (2010). The impact of interest rate on investment in Jordan: A cointegration analysis. Journal of King Abdul Aziz University: Economics and Administration, 24(1), 199–209. Baillie, R. T., & McMahon, P. C. (1981). Interest rates and investment in West Germany. Empirical Economics, 6(1), 1–9. Baklouti, N., & Boujelbene, Y. (2020). An econometric study of the role of the political stability on the relationship between democracy and economic growth. Panoeconomicus, 67(2), 187–206. Balasubramanyam, V. N., Salisu, M., & Sapsford, D. (1996). Foreign direct investment and growth in EP and IS countries. Economic Journal, 106, 92–105. Baltagi, B. (2008). Econometric analysis of panel data (4th ed.). New York: Wiley. Belke, A. H., & Gros, D. (2001). Real impacts of intra-European exchange rate variability: A case for EMU?”. Open Economies Review, 12, 231–264. Benedictow, A., & Hammersland, R. (2020). A financial accelerator in the business sector of a macro econometric model of a small open economy. Economic Systems, 44(1), 100731. Benson, E., Eya, C. I., & Yunusa, A. (2019). Effect of exchange and interest rates on foreign direct investment in Nigeria 2006–2018. International Journal of Contemporary Research and Review, 10(7), 21572–21585. Blanchard, O., & Summers, L. (1984). Perspectives on high world real interest rates. Brookings Papers on Economic Activity, 2, 273–334. Boadi, E. K., Li, Y., & Lartey, V. C. (2015). Determinants of bank deposits in Ghana: Does interest rate liberalisation matter? Modern Economy, 2015(6), 990–1000. Brada, J. C., Kutan, A. M., & Yigit, T. M. (2005). The effects of transition and political instability on foreign direct investment in ECE emerging markets. New York: United Nations Documents Index. https://www.econstor.eu/bitstream/10419/39650/1/382999282.pdf. Brzoza-B, M., & Cuaresma, J. C. (2008). Mr. Wicksell and the global economy: What drives real interest rates? Working Paper, Oesterreichische Nationalbank. Cavallari, L., & d’Addona, S. (2013). Nominal and real volatility as determinants of FDI. Applied Economics, 45, 2603–2610. Cerra, V., Panizza, U., & Saxena, S. (2013). International evidence on recovery from recessions. Contemporary Economic Policy, 31, 424–439. Cherian, J. A., & Perotti, E. (2001). Option pricing and foreign investment under political risk. Journal of International Economics, 55(2), 359–377. Choi, J., & Kronlund, M. (2018). Reaching for yield in corporate bond mutual funds. Review of Financial Studies, Society for Financial Studies, 31(5), 1930–1965. Citron, J., & Nickelsburg, G. (1987). Country risk and political instability. Journal of Development Economics, 25(2), 385–392. Cumby, R. E., & Obstfeld, M. (1981). A note on exchange rate expectations and nominal interest differentials: A test of the fisher hypothesis. Journal of Finance, 36, 697–703. Dabwor, T. D., Ezie, O., & Tukur, D. M. (2019). Effect of nominal exchange rates on Nigeria’s balance of payments: 1986–2016. Benue Journal of Social Sciences, 6(10), 35–52. De Hoyos, R., & Sarafidis, V. (2006). Testing for cross-sectional dependence in panel-data models. The Stata Journal, 6(4), 482–496. De Melo, J., & Tybout, J. (1986). The effects of financial liberalisation on savings and investment in Uruguay. Economic Development and Cultural Change, 34, 561–87. Demir, F. (2010). Exchange rate volatility and employment growth in developing countries: Evidence from Turkey. World Development, 38, 1127–1140. Desroches, B., & Francis, M. (2006). Global savings, investment, and world real interest rates. Bank of Canada Review, 2006(Winter), 3–17. Desroches, B., & Francis, M. (2007). Global savings, investment, and world real interest rates. Bank of Canada Review, 2006(Winter), 3–17. Desroches, B., & Francis, M. (2010). World real interest rates: A global savings and investment perspective. Applied Economics, 42(22), 2801–2816. Doğanlar, M. (2002). Estimating the impact of exchange rate volatility on exports: Evidence from Asian countries. Applied Economics Letters, 9, 859–863. Dornbusch, R. (2001). Fewer monies, better monies. American Economic Review, 91(2), 238–242. Edwards, S., & Levy-Yeyati, E. (2005). Flexible exchange rates as shock absorbers. European Economic Review, 49, 2079–2105. Eichengreen, B. (2008). The real exchange rate and economic growth. Working Paper No. 4, Commission on Growth and Development, The International Bank for Reconstruction and Development/World Bank. Elbargathi, K., & Al-Assaf, G. (2019). The impact of political instability on the economic growth: an empirical analysis for the case of selected Arab Countries. International Journal of Business and Economics Research, 8(1), 14–22. Evans, R. (1996). An analysis of criterion variable reliability in conjoint analysis. Percept Mot Skills, 82(3), 988–990. Fama, E. (1984). Forward and spot exchange rates. Journal of Monetary Economics, 14, 319–338. Fan, Z., Zhang, R., Liu, X., & Pa, L. (2016). China’s outward FDI efficiency along the belt and road: An application of stochastic frontier gravity model. China Agricultural Economic Review, 8(3), 455–479. Farahani, Y. G., & Dastan, M. (2013). Analysis of Islamic banks’ financing and economic growth: A panel cointegration approach. International Journal of Islamic and Middle Eastern Finance and Management, 6(2), 156–172. Felipe, J., & Llamosa-rosas, I. (2018). Determinants of FDI attraction in the manufacturing sector in Mexico, 1999–2015. Working Papers 2018–2007, Banco de México. Furceri, D., & Zdzienicka, A. (2011). The real effect of financial crises in the European transition economies. Economics of Transition, 19, 1–25. Geng, M. N., & N'Diaye, M. P. (2012). Determinants of corporate investment in China: Evidence from cross-country firm level data. IMF Working Paper No. WP/12/80, International Monetary Fund. Ghiba, N. (2010). Exchange rate and economic growth. The case of Romania. CES Working Papers, 11(4), 73–77. Giovannini, A. (1983). The interest elasticity of savings in developing countries: The existing evidence. World Development, 11(7), 601–607. Glzmann, P. A., Levy-Yeyati, E., & Sturzenegger, F. (2012). Exchange rate undervaluation and economic growth: DÌaz Alejandro (1965) revisited. Economics Letters, 117(3), 666–672. Gosh, A., Gulde, A.-M., & Wolf, H. (2003). Exchange rate regimes: Choices and consequences. Cambridge: MIT Press. Gyimah-Brempong, K., & Traynor, T. L. (1999). Political instability, investment and economic growth in Sub-Saharan Africa. Journal of African Economies, 8(1), 52–86. Haan, J., & Siermann, C. L. J. (1996). Political instability, freedom and economic growth: Some further evidence. Economic Development and Cultural Change (Jan), 44(2), 339–350. Habib, M., & Zurawicki, L. (2002). Corruption and foreign direct investment. Journal of International Business Studies, 33(2), 291–307. Haksoon, K. (2010). Political stability and foreign direct investment. International Journal of Economics and Finance, 2, 59–71. Hatmanu, M., Cautisanu, C., & Frim, M. (2020). The impact of interest rate, exchange rate and European business climate on economic growth in Romania: An ARDL approach with structural breaks. Sustainability, 12, 2798. Hausmann, R., Pritchett, L., & Rodrik, D. (2005). Growth accelerations. Journal of Economic Growth, 10(4), 303–329. Hsiao, C. (1986). Analysis of panel data. Econometric Society Monographs, No. 11, Cambridge: Cambridge University Press. ISBN: 9780521522717. Hsiao, C. (2007). Panel data analysis—Advantages and challenges. Test, 16(1), 1–22. Hye, Q. M. A., & Wizarat, S. (2013). Impact of financial liberalisation on economic growth: A case study of Pakistan. Asian Economic and Financial Review, 3(2), 270–282. Ibicioglu, M., & Kapusuzoglu, A. (2012). An empirical analysis of impact of central bank policy interest rate on the decisions of share investors: Evidence from Turkey. Procedia Social and Behavioral Sciences, 62, 489–493. Im, K., Pesaran, M., & Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115, 53–74. Im, K., Pesaran, M., & Shin, Y. (1997). Testing for unit roots in heterogeneous panels. Cambridge: University of Cambridge. Ingersoll, J., & Ross, E. (1992). Waiting to invest investment and uncertainty. Journal of Business, 65, 1–29. Jadhav, P. (2012). Determinants of foreign direct investment in BRICS economies: Analysis of economic, institutional and political factor. Procedia-Social and Behavioral Sciences, 37, 5–14. Jarque, C. M., & Bera, A. K. (1980). Efficient tests for normality, homoscedasticity and serial independence of regression residuals. Economics Letters., 6(3), 255–259. Jones, J. D. (1989). A comparison of lag–length selection techniques in tests of granger causality between money growth and inflation: Evidence for the US, 1959–86. Applied Economics, 21(6), 809–822. Kao, C. (1999). Spurious regression and residual-based tests for cointegration in panel data. Journal of Econometrics., 90, 1–44. Kao, C., & Chiang, M. H. (2000). On the estimation and inference of a cointegrated regression in panel data. Advances in Econometrics, 15, 179–222. Kargbo, S. M. (2010). Financial liberalisation and savings mobilisation in Sierra Leone: A test of McKinnon’s complementary hypothesis. Journal of Monetary and Economic Integration, 10(1), 131–170. Karimo, T. (2020). Impact of interest rate differential and exchange rate movement on the dynamics of Nigeria’s international private capital flows. CBN Journal of Applied Statistics, 11(2), 29–63. Kenny, V.S. (2019). Effect of foreign direct investment and exchange rate on economic growth of Nigeria (March 21, 2019). https://ssrn.com/abstract=3357520 or https://doi.org/10.2139/ssrn.3357520. Khan, A. H., & Hasan, L. (1998). Financial liberalisation, savings and economic development in Pakistan. Economic Development and Cultural Change, 46, 581–597. Khan, M.r M., & Akbar, I. M (2013). The impact of political risk on foreign direct investment. MPRA Paper No. 47283. http://mpra.ub.uni-muenchen.de/47283/. Accessed 1 December 2020. Latief, R., & Lefen, L. (2018). The effect of exchange rate volatility on international trade and foreign direct investment (FDI) in developing countries along “One Belt and One Road.” International Journal of Financial Studies, 6(4), 1–22. Levy-Yeyati, E., & Sturzenegger, F. (2003). To float or to fix: Evidence on the impact of exchange rate regimes on growth. American Economic Review, 93(4), 1173–1193. Lucas, R. E., Jr. (1990). Why does not capital flow from rich to poor countries. American Economic Review, 80, 92–6. Maryam, B., Khan, M. A., Rahman, H. U., & Rehman, A. (2020). The predictors of economic growth: An evidence from SAARC region. City University Research Journal, 10(2), 177–188. Mottelle, S., & Masengetse, R. (2012). McKinnon-Shaw complementary hypothesis: Evidence from Lesotho. The African Finance Journal, 14(1), 102–114. McMillan, S. M. (1999). Foreign direct investment in three regions of the South at the end of the 20th century. Basingstoke: McMillan Ltd. McPherson, M. F., & Rakovski, T. (2000). Exchange rates and economic growth in Kenya: An econometric analysis, African Economic Policy Discussion Paper No. 56. Meng, O., & Yip, C. K. (2004). Investment, interest rate rules, and equilibrium determinacy. Economic Theory, 23, 863–878. Miles, W. (2006). To float or not to float? Currency regimes and growth. Journal of Economic Development, 31(2), 91–105. Mottelle, S., & Masengetse, R. (2012). McKinnon-shaw complementary hypothesis: Evidence from Lesotho. The African Finance Journal, 14(1), 102–114. Muhammad, D. S., Lakhan, R., Ghulam, M., & Numan. (2013). Rate of interest and its impact on investment to the extent of Pakistan. Pakistan Journal of Commerce and Social Sciences, 7(1), 91–99. Mundell, R. A. (1961). A theory of optimum currency areas. American Economic Review, 51, 657–665. Munthali, T., Simwaka, K., & Mwale, M. D. (2010). The real exchange rate and growth in Malawi: Exploring the transmission route. Journal of Development and Agricultural Economics, 2(9), 303–315. Murad, M. S., & Alshyab, N. (2019). Political instability and its impact on economic growth: The case of Jordan. International Journal of Development Issues, 18(3), 366–380. Mushtaq, S., & Siddiqui, D. A. (2016). Effect of interest rate on economic performance: Evidence from Islamic and non-Islamic economies. Financial Innovation, 2(9), 1–14. Ning, Y., & Zhang, L. (2018). Modeling dynamics of short-term international capital flows in China: A Markov regime switching approach. North America Journal of Economics and Finance. https://doi.org/10.1016/j.najef.2018.01.002 Okonkwo, J. J., Osakwe, C. I., & Nwadibe, E. C. (2021). Exchange rate and foreign direct investment in Nigeria 1981–2018. International Journal of Academic Research in Business and Social Sciences, 11(1), 213–232. Opoku, R. T., & Ackah, I. (2015). How responsive are private savings to changes in real interest rate in Ghana. Munich Personal RePEc Archive (MPRA) Paper No. 65040. Orji, A., Eigbiremolen, G., & Ogbuabor, J. (2014). Impact of financial liberalization on private investment: Empirical evidence from Nigerian data. Review of Economics & Finance, Better Advances Press, Canada, 4, 77–86. Pasha, S. (2020). The impact of political instability on economic growth: the case of Guyana. Online at https://mpra.ub.uni-muenchen.de/103145/, MPRA Paper No. 103145, posted 05 Oct 2020 19:31 UTC. Pattanaik, B. R. (2013). Real interest rate impact on investment and growth—What the empirical evidence for India suggests. Reserve Bank of India. https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=15113. Pedroni, P. (1999). Critical values for cointegration tests in heterogeneous panels with multiple regressors. Oxford Bulletin of Economics and Statistics, 61, 653–670. Pedroni, P. (2004). Panel cointegration: Asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis. Econometric Theory, 20, 597–625. Pedroni, P. (2001). Purchasing power parity tests in cointegrated panels. The Review of Economics and Statistics., 83(4), 727–731. Pesara, M. H. (2004). General diagnostic tests for cross section dependence in panels. CESifo Working Paper Series, No. 1229, IZA Discussion Paper No. 1240. Petreski, M. (2009). Exchange-rate regime and economic growth: A review of the theoretical and empirical literature. Economics Discussion Paper, (2009-31). Phillips, P. C., & Hansen, B. E. (1990). Statistical inference in instrumental variables regression with I (1) processes. The Review of Economic Studies, 57(1), 99–125. Phillips, R. J., & Cutler, H. (1998). Domestic exchange rates and regional economic growth in the United States, 1899–1908: evidence from cointegration analysis. The Journal of Economic History, 58(4), 1010–1026. Ramachandran, R., Sasidharan, S., & Doytch, N. (2020). Foreign direct investment and industrial agglomeration: Evidence from India. Economic Systems, 44(4), 100777. Rashid, M., Looi, X. H., & Wong, S. J. (2017). Political stability and FDI in the most competitive Asia Pacific countries. Journal of Financial Economic Policy, 9(2), 140–155. Ray, S. (2012). Impact of foreign direct investment on economic growth in India: A co integration analysis. Advances in Information Technology and Management, 2, 187–201. Robert, J. B., & Xavier, S. M. (1990). Economic growth and convergence across. The United States, NBER Working Papers 3419, National Bureau of Economic Research, Inc. Robertson, C. J., & Watson, A. (2004). Corruption and change: The impact of foreign direct investment. Strategic Management Journal, 25(4), 385–396. Rodrik, D. (2008). The real exchange rate and economic growth. Brookings Papers on Economic Activity, 39(2), 365–439. Servén, L. (2003). Real exchange rate uncertainty and private investment in LDCs. Review of Economics and Statistics, 85, 212–218. Sharifi-Renani, H., & Mirfatah, M. (2012). The impact of exchange rate volatility on foreign direct investment in Iran. Procedia Economics and Finance, 1, 365–373. Shrestha, M. B., & Chowdhury, K. (2007). Testing financial liberalisation hypothesis with ARDL modelling approach. Applied Financial Economics, 17, 1529–1540. Slaughter, M. (2001). Trade liberalization and per capita income convergence: A difference-in-differences analysis. Journal of International Economics, 55(1), 203–228. Stock, J. H., & Watson, M. W. (1993). A simple estimator of cointegrating vectors in higher order integrated systems. Econometrica Journal of the Econometric Society, 61(4), 783–820. Thaddeus, E. O., & Nnneka, A. (2014). Exchange rate, inflation and interest rates relationships: An autoregressive distributed lag analysis. Journal of Economics and Development Studies, 2, 263–279. Thapa, N. B. (2002). An econometric analysis of the impact of real effective exchange rate on economic activities in Nepal. Economic Review, Occasional Paper, 14. Thomas, L. R. (1985). A winning strategy for currency-futures speculation. Journal of Portfolio Management (Fall), 12, 65–69. Tokuoka, K. (2012). Does the business environment affect corporate investment in India? IMF Working Paper, WP/12/70. Tyers, R., Golley, J., Yongxiang, B., & Bain, I. (2006). China’s economic growth and its real exchange rate. Working Papers in economics and econometrics No. 476, Australian National University. Wang, D. H., & Yu, T. H. (2007). The role of interest rate in investment decisions: A fuzzy logic framework. Global Business and Economic Review, 9(4), 448–457. Wang, K. H., Su, C. W., & Tao, R. (2019). Time-varying character for short-term capital flow from the interest rate aspect in China. Economic Research-Ekonomska Istrazivanja, 32(1), 2761–2779. Warman, F., & Thirlwall, A. P. (1994). Interest rates, saving, investment and growth in Mexico 1960–1990: Tests of the financial liberalisation hypothesis. The Journal of Development Studies, 30(3), 629–649. Wooldridge, J. M. (2010). Econometric analysis of cross section and panel data (2nd ed.). Cambridge: MIT Press. World Development Indicators (WDI). (2019). Retrieved on 01-04-2020, from: https://databank.worldbank.org/source/worlddevelopment-indicato. Worldwide governance indicators (WGI). (2020). Retrieved on 01-04-2020, from http://info.worldbank.org/governance/wgi/. Wu, J. L., & Chen, S. L. (1998). A re-examination of real interest rate parity. The Canadian Journal of Economics, 31, 837–851. Zhang, J., & Dou, Y. (2010). The effectiveness of interest rate parity. The ANU Undergraduate Research Journal, 2, 99–114.