Download The Impact of FDI on Economic Growth: An Analysis for the by Marco Neuhaus PDF

By Marco Neuhaus

This e-book offers a accomplished knowing of the connection among international Direct funding (FDI) and monetary progress, with certain awareness to the international locations of valuable and japanese Europe. inside a brand new semi-endogenous development version, the publication illustrates the effect of FDI on fiscal development for each degree of improvement of a rustic. The booklet analyzes the expansion improving influence of FDI, and explains the particular development contributions caused via FDI.

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Extra info for The Impact of FDI on Economic Growth: An Analysis for the Transition Countries of Central and Eastern Europe (Contributions to Economics)

Sample text

Therefore, its value is not independent of GDP growth and labour, the second factor input. 0%. This can be attributed to large labour movements to the west caused by the drop of the Iron Curtain and the beginning of a rationalisation process. Labour was substituted by capital and at the same time the significant amount of slackness of the labour force which was inherent under the Soviet regime - was gradually removed. These developments made the production process much more efficient and boosted the TFP contribution at the beginning of the 1990s.

In general, the economic theory has modelled three different ways on how the physical capital stock evolves over time and thereby contributes to economic growth. On the one hand, there is “mere capital accumulation” through an increase in the quantitative production of the existing types of capital goods (which is called “capital widening” and is the Solow type of capital accumulation). On the other hand, there is “technological change” which either takes the form of an improvement in the quality of the existing types of capital goods or the invention of completely new types of capital goods (both types of technological change are called “capital deepening”).

5) The structural component itself is a function of the participation rate P and the average number of hours worked per employed person H. Both P and H itself are determined by labour market-specific factors. e. L = N Z(·). 6) and we can rewrite Eq. 7) GDP growth, as well as the capital and TFP contributions, stay the same as in Models I and II. The only difference is the decomposition of labour. 3 shows the amendments. We can see that in the transition countries population growth did not play a major role in labour contribution and most of the negative impact must be attributed to structural features.

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