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Foreign Direct investments are interest to emerging countries as they may fuel growth. Countries compete with each other to attract new direct investment as they are permanent. This paper searches the relationship between technology transfer and economic growth in ten Eurasian countries via panel data analysis. For this purpose, gross domestic product, foreign direct investment, and current account balance are used as variables. The sample period is from 2000 to 2018. Dumitrescu and Hurlin panel causality test is used to because of heterogeneity The study provides evidence for a causal relationship from current account balances to GDP, and FDI to current account balance. Interestingly, the study provides evidence for no causal relationship from FDI to GDP but GDP levels affect FDI levels. Also, there is no found cointegration relationship between the variables. |
