THE RELATIONSHIP BETWEEN FOREIGN DIRECT INVESTMENTS, EXPORTS AND ECONOMIC GROWTH
| Autor: | Bilas, Vlatka, Franc, Sanja, Sopta Ćorić, Martina |
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| Jazyk: | chorvatština |
| Rok vydání: | 2022 |
| Předmět: | |
| Zdroj: | Zbornik Veleučilišta u Rijeci Volume 10 Issue 1 |
| ISSN: | 1849-1723 1848-1299 |
| Popis: | Glavni cilj ovog rada je empirijski istražiti vezu između ekonomskog rasta, inozemnih izravnih ulaganja i izvoza na primjeru Republike Hrvatske. Empirijska analiza temelji se na primjeni višestrukih empirijskih testova jediničnog korijena, testova kointegracije i Grangerovog testa uzročnosti. Rezultati većine testova kointegracije pokazali su da ne postoji dugoročni odnos ravnoteže između tromjesečne stope rasta realnog bruto domaćeg proizvoda (BDP-a), udjela serija inozemnih izravnih ulaganja i izvoza roba i usluga u realnom BDP-u. Zaključak o nedostatku dugoročne ravnotežne veze između stope rasta realnog BDP-a i odabranih spomenutih serija robustan je kada se koriste vremenske serije na različitim frekvencijama, odnosno tromjesečne, u odnosu na godišnje vremenske serije. Na temelju Grangerovog testa uzročnosti nije identificiran utjecaj udjela inozemnih izravnih ulaganja u realnom BDP-u na stopu rasta realnog BDP-a. S druge strane, u slučaju udjela izvoza roba i usluga u realnom BDP-u identificirana je povratna uzročna povezanost između ovog udjela i stope rasta realnog BDP-a. The main goal of this paper is to investigate the relationship between economic growth, foreign direct investment and exports on the example of the Republic of Croatia. Empirical analysis is based on the application of multiple empirical tests, including unit root tests, cointegration tests, and the Granger causality test. The results of most cointegration tests showed that there is no long-run balance relationship between the quarterly growth rate of real gross domestic product (GDP), the share of foreign direct investment series and exports of goods and services in real GDP. The conclusion about the lack of a long-run equilibrium relationship between the real GDP growth rate and the selected mentioned series is robust when time series are used at different frequencies, i.e. quarterly, in relation to annual time series. Based on Granger’s causality test, the impact of the share of foreign direct investment on the real GDP growth rate has not been identified. On the other hand, in the case of the share of exports of goods and services in real GDP, a causal relationship was identified between this share and the real GDP growth rate. |
| Databáze: | OpenAIRE |
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