Journal of Finance and Economics

Journal of Finance and Economics

ISSN: 2291-4951 (Print)    ISSN: 2291-496X (Online)

Volume 2 (2014), No. 1, Pages 1-14

DOI: 10.12735/jfe.v2i1p1

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Foreign Direct Investment and Economic Growth: The Experience of CEMAC Countries

ONGO NKOA B. Emmanuel1 

1Department of Economics and Management, Faculty of Social and Management Sciences, University of Buea, Cameroon and Member of LARAE, Cameroon

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This paper estimates the impact of foreign direct investment (FDI) on economic growth in CEMAC countries. The basic theory is that of endogenous growth. The econometrical study is based on the work of Alaya, Nicet-Chenaf, and Rougier (2009) and Borensztein, De Gregorio, and Lee (1998). This model also includes the channels through which FDI influences growth. The study covers the period 1980-2010. All CEMAC countries are considered. To estimate the model, the author has used the method of double least squares and the generalised method moment. The results show that FDI affect growth in all CEMAC countries except Congo. The mean by which the realisation of their influence differs from one country to another. The main recommendation of the study is to promote economic and structural policies to modernise the economies of CEMAC.

JEL Classifications: E23, F21, F43

Keywords: foreign direct investment, economic growth, human capital, CEMAC, panel data

To Cite this Article: ONGO NKOA, B. E. (2014). Foreign direct investment and economic growth: the experience of CEMAC countries. Journal of Finance and Economics, 2(1), 1-14.

Copyright © ONGO NKOA B. Emmanuel

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This article is published under license to Science and Education Centre of North America. This is an Open Access article distributed under the terms of the Creative Commons Attribution 4.0 International License.

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Foreign Direct Investment and Economic Growth: The Experience of CEMAC Countries