How does foreign direct investment affect economic growth?

Journal of International Economics 45 (1998) 115 135. How does foreign direct investment affect economic growth? 1. E. Borensztein a , *, J. De Gregorio b , J-W. Lee c a International Monetary Fund, Research Department, Washington DC 20431 USA. b Center for Applied Economics, Department of Industrial Engineering, Universidad de Chile, Santiago, Chile c Economics Department, Korea University and NBER, Seoul 136 -701 Korea Received 21 February 1996; received in revised form 24 February 1997; accepted 20 May 1997. Abstract We test the effect of foreign direct investment (FDI) on economic growth in a cross-country regression framework, utilizing data on FDI flows from industrial countries to 69 developing countries over the last two decades.

Journal of International Economics 45 (1998) 115–135 How does foreign direct investment affect economic growth?1 E. Borensztein , J. De Gregorio , J-W. Leea, b c* aInternational Monetary Fund ,Research Department Washington DC 20431USA bCenter for Applied Economics ,Department of Industrial Engineering Universidad de Chile Santiago,Chile

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