References
- Adams, S. (2009). Foreign direct investment, domestic investment and economic growth in Sub-Saharan Africa. Journal of Policy Modelling, 31, 939–949. doi:10.1016/j.jpolmod.2009.03.003
- Adeneyi, O., Oyinlola, A., Omisakin, O., & Egwaikhide, F.O. (2015). Financial development and economic growth in Nigeria: Evidence from threshold modeling. Economic Analysis, and Policy, 47, 11–21. doi:10.1016/j.eap.2015.06.003
- Adjasi, C., Abor, J., Osei, K.A., & Nyavor-Foli, E.E. (2012). FDI and economic activity in Africa: The role of local financial markets. Thunderbird International Business Review, 54, 429–439. doi:10.1002/tie.21474
- Agbloyor, E.K., Abor, J.Y., Adjasi, C.K.D., & Yawson, A. (2014). Private capital flows and economic growth in Africa: The role of domestic financial markets. Journal of International Financial Markets, Institutions & Money, 30, 137–152. doi:10.1016/j.intfin.2014.02.003
- Agbloyor, E.K., Gyeke-Dako, A., Kuipo, R., & Abor, S.Y. (2016). Foreign direct investment and economic growth in SSA: The role of institutions. Thunderbird International Business Review, 7, 479–497. doi:10.1002/tie.21791
- Akinlo, A.E. (2004). Foreign direct investment and growth in Nigeria: An empirical investigation. Journal of Policy Modeling, 26, 627–663. doi:10.1016/j.jpolmod.2004.04.011
- Alfaro, L., Chanda, S., Kalemli-Ozcan, S., & Sayek, S. (2004). FDI and economic growth: The role of local financial markets. Journal of International Economics, 64, 89–112. 1996(03)00081-3 doi:10.1016/S0022-
- Azman-Saini, W., Baharumshah, A., & Law, S.H. (2010a). Foreign direct investment, economic freedom and economic growth: International evidence. Economic Modelling, 27, 1079–1089. doi:10.1016/j.econmod.2010.04.001
- Azman-Saini, W.N.W., Law, S.H., & Ahmad, A.H. (2010b). FDI and economic growth: New evidence on the role of financial markets. Economics Letters, 107, 211–213. doi:10.1016/j.econlet.2010.01.027
- Baharumshah, A.Z., Ly, S., & Devadason, E.S. (2015). Types of foreign capital inflows and economic growth: New evidence on the role of financial markets. Journal of International Development, 29, 768–789. doi:10.1002/jid.3093
- Balasubramanyam, V., Salisu, M., & Sapsford, D. (1996). Foreign direct investment and growth in EP and IS countries. The Economic Journal, 106, 92–105. doi:10.2307/2234933
- Borensztein, E., De Gregorio, J., & Lee, J. (1998). How does foreign direct investment affect economic growth. Journal of International Economics, 45, 115–135. doi: S0022-1996(97)00033-0 doi:10.1016/S0022-1996(97)00033-0
- Brambor, T., Clark, W., & Golder, M. (2006). Understanding interaction models: Improving empirical analyses. Political Analysis, 14, 63–82. doi:10.1093/pan/mpi014
- Bruno, R.L., & Campos, N.F. (2013). Reexamining the conditional effect of foreign direct investment, IZA Discussion Paper No. 7458.
- Carbonell, J.B., & Werner, R.A. (2018). Does foreign direct investment generate economic growth? A new empirical approach applied to Spain. Economic Geography, 94, 425–456. doi:10.1080/00130095.2017.1393312
- Cardoso, F.H., & Faletto, E. (1979). Dependency and development in Latin America. Berkeley: University of California Press.
- Chakraborty, C., & Basu, P. (2002). Foreign direct investment and growth in India: A cointegration approach. Applied Economics, 34, 1061–1073. doi:10.1080/00036840110074079
- Chen, J., & Quang, T. (2014). The impact of international financial integration on economic growth: New evidence on threshold effects. Economic Modelling, 42, 475–489. doi:10.1016/j.econmod.2014.06.011
- De Gregorio, J. (1992). Economic growth in Latin America. Journal of Development Economics, 39, 59–84. doi: 10.1016/0304-3878(92)90057-G
- Demetriades, P., & Hussein, K. (1996). Does financial development cause economic growth? Journal of Development Economics, 15, 385–409. doi:10.1016/S0304-3878(96)00421-X
- Durham, J. (2004). Absorptive capacity and the effects of foreign direct investment and equity foreign portfolio investment on economic growth. European Economic Review, 48, 285–306. doi: S0014-2921(02)00264-7. doi:10.1016/S0014-2921(02)00264-7
- Fok, D., van Dijk, D., & Franses, P. (2004). A multi-level panel STAR model for US manufacturing sectors. Working Paper, University of Rotterdam.
- Ford, T.C., Jonathan, C.R., & Bruce, T.E. (2007). Foreign direct investment, economic growth, and the human capital threshold: Evidence from US states. Review of International Economics, 16, 96–113. 00726.x doi:10.1111/j.1467-9396.2007
- Fouquau, J., Hurlin, C., & Rabaud, I. (2008). “The Feldstein–Horioka puzzle: A panel smooth transition regression approach”. Economic Modelling, 25, 284–299. doi:10.1016/j.econmod.2007.06.008
- Gainelli, G., Fracasso, A., & Marzetti, G.V. (2015). Spatial agglomeration and productivity in Italy: A panel smooth transition regression approach. Papers in Regional Science, 94, 40–67. doi:10.1111/pirs.12103
- Girma, S. (2005). Absorptive capacity and productivity spillovers from FDI: A threshold regression analysis. Oxford Bulletin of Economics and Statistics, 67, 281–306. doi:10.1111/j.1468-0084.2005.00120.x
- González, A., Teräsvirta, T., & van Dijk, D. (2005). Panel Smooth Transition Regression Models, (No 165). Research Paper Series. Sydney: Quantitative Finance Research Centre, University of Technology.
- Gorg, H., & Greenaway, D. (2004). Much ado about nothing? Do domestic firms really benefit from foreign direct investment? World Bank Research Observer, 19, 171–197. doi:10.1093/wbro/lkh019
- Hansen, B.E. (2000). Sample splitting and threshold estimation. Econometrica, 68, 575–603. doi:10.1111/1468-0262.00124
- Hanson, G.H. (2001). Should Countries Promote Foreign Direct Investment? G-24 Discussion, Paper 9.
- Hermes, N., & Lensink, R. (2003). Foreign direct investment, financial development, and economic growth. Journal of Development Studies, 40, 142–163. doi:10.1080/00220380412331293707
- Herzer, D. (2012). How does foreign direct investment really affect developing countries growth? Review of International Economics, 20, 396–414. doi:10.1111/roie.2012.20.issue-2
- Jude, E.C. (2010). Financial development and growth: A panel smooth regression approach. Journal of Economic Development, 35, 15–33.
- Jude, C., & Levieuge, G. (2016). Growth effect of foreign direct investment in developing economies: The role of institutional quality. The World Economy, 40, 715–742. doi:10.1111/twec.12402
- Levine, R., Loayza, N., & Beck, T. (2000). Financial intermediation and growth: Causality and causes. Journal of Monetary Economics, 46, 31–77. doi:10.1016/S0304-3932(00)00017-9
- Mckinnon, R.I. (1973). Money and capital in economic development. Washington, DC: Brookings Institute.
- Mencinger, J. (2003). Does foreign direct investment always enhance economic growth? International Review of Social Sciences, 56, 491–508. 00235.x doi:10.1046/j.0023-5962.2003
- Moran, T.H. (1978). Multinational corporations and dependency: A dialogue for dependentistas and nondependentistas. International Organization, 32, 79–100. doi:10.1017/S0020818300003878
- Neuhaus, M. (2006). The impact of FDI on economic growth: An analysis for the transition countries of Central and Eastern Europe, Heidelberg, Germany: Physica-Verlag, Springer Science and Business Media.
- Nunnemkamp, P. (2004). To what extent can foreign direct investment help achieve international development goals? World Economy, 27, 657–677. doi:10.1111/j.0378-5920.2004.00620.x
- Presbisch, R. (1968). Development problems of the peripheral countries and the terms of trade. In D. James (Ed.), Economics of trade, development. New York: Wiley.
- Seyoum, M., Wu, R., & Lin, J. (2014). Foreign direct investment and economic growth: The case of developing African economies. Social Indicators Research, 122, 45. doi:10.1007/s11205-014-0679-6
- Sharma, B., & Abekah, J. (2008). Foreign direct investment and economic growth of Africa. Atlantic Economic Journal, 36, 117–118. doi:10.1007/s11293-007-9103-9
- Shen, C.-H., Lee, C.-C., & Chi-C, L. (2010). What makes international capital flows promote economic growth? An international cross-country analysis. Scottish Journal of Political Economy, 57, 515–546. doi:10.1111/j.1467-9485.2010.00529.x
- Tu, Y., Xiao, T., & Zhao, X. (2012). Technology spillovers of FDI in ASEAN sourcing from local and abroad. China Finance Review International, 2, 78–94. doi:10.1108/20441391211197465
- UN-Habitat (2018). The state of African cities 2018: The geography of African investment, Nairobi, Kenya. Retrieved from: https://unhabitat.org/books/the-state-of-african-cities-2018-the-geography-of- african-investment/
- Xu, B. (2000). Multinational enterprises, technology diffusion, and host country productivity growth. Journal of Development Economics, 62, 477–493. doi:10.1.1.626.8248
- Yao, S. (2006). On economic growth, FDI and exports in China. Applied Economics, 38, 339–351. doi:10.1080/00036840500368730