BazEkon - Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie

BazEkon home page

Meny główne

Autor
Kida Nakije (AAB College, Kosovo)
Tytuł
The Causal Link between FDI and Remittances in Kosovo, Switzerland, and Denmark
Związek przyczynowy między BIZ a przekazami pieniężnymi w Kosowie, Szwajcarii i Danii
Źródło
Comparative Economic Research, 2021, vol. 24, nr 2, s. 45-68, rys., tab., aneks, bibliogr. 44 poz.
Słowa kluczowe
Inwestycje bezpośrednie, Inwestycje zagraniczne, Przyczynowość w sensie Grangera
Direct investments, Foreign investment, Granger casuality
Uwagi
Klasyfikacja JEL: F21, F33, E2, F24, R15
summ., streszcz.
Kraj/Region
Kosowo, Szwajcaria, Dania
Kosovo, Switzerland, Denmark
Abstrakt
Pogoń za pieniędzmi i kapitałem jest nieustannym dążeniem każdej gospodarki. BIZ są uważane za siłę napędową wzrostu gospodarczego, podczas gdy przekazy pieniężne są w coraz większym stopniu katalizatorem dobrobytu ludności. Celem opracowania jest analiza związku między przekazami pieniężnymi a napływem BIZ do Kosowa, Szwajcarii i Danii. Wtórne dane uzyskane z opracowania World Development Indicators zostały przeanalizowane za pomocą metody zwykłych najmniejszych kwadratów i testu przyczynowości Grangera oraz przetworzone techniką SPSS 21. Pomiar korelacji między zmiennymi: bezpośrednimi inwestycjami zagranicznymi, wzrostem PKB per capita, saldem migracji, przekazami pieniężnymi, nakładami brutto na środki trwałe, spożyciem gospodarstw domowych i liczbą ludności, daje wiarygodne wyniki. Wykorzystując przekazy pieniężne jako zmienną zależną, pierwsza hipoteza została częściowo potwierdzona. Najbardziej istotne statystycznie determinanty zwiększające przekazy pieniężne to populacja, bezrobocie i migracje. Wyniki regresji są niezadowalające w przypadku zmiennej zależnej BIZ (druga hipoteza). Determinanty są skorelowane pozytywnie, ale nieistotnie statystycznie, co potwierdza, że istnieją inne czynniki wpływające na wzrost napływu BIZ. Macierz korelacji wykazuje wysoką korelację między zmiennymi. Model przyczynowości Grangera, poprzez test Walda, reprezentuje przyczynę tego zjawiska. BIZ nie generują przekazów pieniężnych, ale przekazy pieniężne wpływają na wielkość BIZ. Ograniczeniem badania jest niejednorodność danych i krajów w próbie. Wyniki badania będą posłużyć instytucjom rządowym w Kosowie do poprawy otoczenia biznesowego, tak aby kraj stał się atrakcyjny dla inwestorów zagranicznych, dzięki którym nastąpi wzrost kapitału i zatrudnienia. (abstrakt oryginalny)

The pursuit of money and capital is a relentless endeavor of every economy. FDI is considered the engine of economic growth, while are remittances the increasingly the catalyst of the population's welfare. The purpose of the study is to analyze the answer about the relationship between remittances and FDI inflows in Kosovo, Switzerland and Denmark. Secondary data obtained from the World Development Indicators were, analyzed with the Ordinary Least Squares model and Granger Causality and processed with SPSS 21 technique. Measuring the correlation between variables, Foreign Direct Investment, GDP per capita growth, net migration, remittances, Gross Fixed Capital Formation, household consumption, and population number, give reliable results. Using remittances as a dependent variable, the first hypothesis has been partially confirmed, the most statistically significant and positive determinants that increase remittances are population, unemployment and migration and not other determinants. The regression results are unsatisfactory for the second hypothesis dependent variables Foreign Direct Investment the determinants are positive but not statistically significant, confirming that there are other factors that impact the increase of FDI inflows. The correlation matrix shows a high correlation between the variables. The Granger Causality model, through the Wald test, represents the cause. FDI does not cause remittances, but remittances cause FDI. A limitation of the study is the heterogeneity of the data and the countries in the sample. The results of the study will be of interest to government institutions in Kosovo to improve the business environment so that the country will become attractive to foreign investors who will bring capital and employment growth.
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Pełny tekst
Pokaż
Bibliografia
Pokaż
  1. Adams Jr, R.H., Page, J. (2005), Do international migration and remittances reduce poverty in developing countries?, "World Development", 33 (10), pp. 1645-1669, https://doi.org/10.1016/j.worlddev.2005.05.004
  2. Adams, S. (2009), Foreign direct investment, domestic investment, and economic growth in Sub-Saharan Africa, "Journal of Policy Modeling", 31 (6), pp. 939-949, https://doi.org/10.1016/j.jpolmod.2009.03.003
  3. Adenutsi, D.E. (2014), Macroeconomic Determinants of Workers Remittances and compensation of Employees in Sub-Saharan Africa, "The Journal of Developing Areas", 48 (1), pp. 337-360, https://doi.org/10.1353/jda.2014.0015
  4. Balasubramanyam, V.N., Salisu, M., Sapsford, D. (1996), Foreign direct investment and growth in EP and IS countries, "The Economic Journal", 106 (434), pp. 92-105, https://doi.org/10.2307/2234933
  5. Baldwin, R., Lopez-Gonzalez, J. (2015), Supply-chain trade: A portrait of global patterns and several testable hypotheses, "The World Economy", 38 (11), pp. 1682-1721, https://doi.org/10.1111/twec.12189
  6. Barajas, A., Chami, R., Fullenkamp, C., Gapen, M., Montiel, P.J. (2009), Do workers remittances promote economic growth?, "IMF Working Papers", 153, pp. 1-22, https://doi.org/10.5089/9781451873009.001
  7. Basnet, H.C., Upadhyaya, K.P. (2014), Do Remittances Attract Foreign Direct Investment? An Empirical Investigation, "Global Economy Journal", 14 (1), pp. 1-9, https://doi.org/10.1515/gej-2013-0052
  8. Beugelsdijk, S., Smeets, R., Zwinkels, R. (2008), The impact of horizontal and vertical FDI on host's country economic growth, "International Business Review", 17 (4), pp. 452-472, https://doi.org/10.1016/j.ibusrev.2008.02.004
  9. Blomstrom, M., Lipsey, R.E., Zejan, M. (1992), What explains developing country growth?, "NBER working paper" (w4132), https://www.nber.org/system/files/working_papers/w4132/w4132.pdf (accessed: 11.07.2019).
  10. Borensztein, E., De Gregorio, J., Lee, J.W. (1998), How does foreign direct investment affect economic growth?, "Journal of International Economics", 45 (1), pp. 115-135, https://doi.org/10.1016/S0022-1996(97)00033-0
  11. Bourdet, Y., Falck, H. (2006), Emigrants" remittances and Dutch disease in Cape Verde, "International Economic Journal", 20 (3), pp. 267-284, https://doi.org/10.1080/10168730600879323
  12. Brekke, J.P., Roed, M., Schone, P. (2016), Reduction or deflection? The effect of asylum policy on interconnected asylum flows, "Migration Studies", 5 (1), pp. 65-96, https://doi.org/10.1093/migration/mnw028
  13. BTI Transformation Index, Kosovo Country Report 2020, https://www.bti-project.org/en/reports/country-report-RKS-2020.html#pos7 (accessed: 1.08.2020).
  14. Buch, C.M., Kuckulenz, A. (2010), Worker Remittances and Capital Flows to Developing Countries. "International Migration", 48 (5), pp. 89-117, https://doi.org/10.1111/j.1468-2435.2009.00543.x
  15. Büthe, T., Milner, H.V. (2008), The politics of foreign direct investment into developing countries: increasing FDI through international trade agreements?, "American Journal of Political Science", 52 (4), pp. 741-762, https://doi.org/10.1111/j.1540-5907.2008.00340.x
  16. Carkovic, M., Levine, R. (2005), Does foreign direct investment accelerate economic growth?, "Does Foreign Direct Investment Promote Development", 195, http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.494.5205&rep=rep1&type=pdf (accessed: 11.09.2019).
  17. CBK, Central Bank of the Republic of Kosovo (2018), Financial stability report, No. 13, https://bqk-kos.org/repository/docs/2018/BQK_FSR_13.pdf (accessed: 29.03.2020).
  18. CBK, Central Bank of the Republic of Kosovo (2020), Financial Stability Report, No. 15, https://bqk-kos.org/repository/docs/2018/CBK_FSR_15.pdf (accessed: 29.03.2020).
  19. Chami, R., Fullenkamp, C., Jahjah, S. (2003), Are immigrant remittance flows a source of capital for development?, "IMF Working Paper" WP/031189, https://www.elibrary.imf.org/doc/IMF001/00376-9781451859638/00376-9781451859638/Other_formats/Source_PDF/00376-9781451904994.pdf?redirect=true (accessed: 19.02.2020).
  20. Comes, C.A., Bunduchi, E., Vasile, V., Stefan, D. (2018), The Impact of Foreign Direct Investments and Remittances on Economic Growth: A Case Study in Central and Eastern Europe, "Sustainability", 10 (1), p. 238, https://doi.org/10.3390/su10010238
  21. Coon, M., Neumann, R. (2016), Follow the Money: Remittance Responses to FDI Inflows, "Journal of Globalization and Development", 8 (2), pp. 1-20, https://doi.org/10.1515/jgd-2017-0023
  22. Czaika, M., Hobolth, M. (2016), Do restrictive asylum and visa policies increase irregular migration into Europe?, "European Union Politics", 17 (3), pp. 345-365, https://doi.org/10.1177/1465116516633299
  23. Giannetti, M., Federici, D., Raitano, M. (2009), Migrant remittances and inequality in Central-Eastern Europe, "International Review of Applied Economics", 23 (3), pp. 289-307, https://doi.org/10.1080/02692170902811710
  24. Glass, A.J., Saggi, K. (2002), Multinational firms and technology transfer, "Scandinavian Journal of Economics", 104 (4), pp. 495-513, https://doi.org/10.1111/1467-9442.00298
  25. globalEDGE, https://globaledge.msu.edu (accessed: 18.02.2020).
  26. Global Happiness and Hope Index, https://iiacss.org/global-happiness-and-hope-index/ (accessed: 2.05.2020).
  27. Gorg, H., Strobl, E. (2001), Multinational companies and productivity spillovers: A metaanalysis, "The Economic Journal", 111 (475), pp. F723-F739, https://doi.org/10.1111/1468-0297.00669
  28. Granger, C.W.J. (1969), Investigating Causal Relations by Econometric Models and Cross-Spectral Methods, "Econometrica", 37 (3), pp. 424-438, https://doi.org/10.2307/1912791
  29. Haller, A.P., Butnaru, R.C., Butnaru, G.I. (2018), International migrant remittances in the context of economic and social sustainable development. A comparative study of Romania-Bulgaria, "Sustainability", 10 (4), 1156, https://doi.org/10.3390/su10041156
  30. Helbling, M., Leblang, D. (2019), Controlling immigration? How regulations affect migration flows, "European Journal of Political Research", 58 (1), pp. 248-269, https://doi.org/10.1111/1475-6765.12279
  31. Holtz-Eakin, D., Newey, W., Rosen, H.S. (1988), Estimating vector autoregressions with panel data, "Econometrica: Journal of the Econometric Society", 56 (6), pp. 1371-1395, https://doi.org/10.2307/1913103
  32. Javorcik, B., Özden, Ç., Spatareanu, M., Constantinescu N.I. (2011), Migrant networks and foreign direct investment, "Journal of Development Economics", 94 (2), pp. 231-241, https://doi.org/10.1016/j.jdeveco.2010.01.012
  33. Mehedintu, A., Soava, G., Sterpu, M. (2019), Remittances, Migration and Gross Domestic Product from Romania's Perspective, "Sustainability", 12 (1), pp. 1-19, https://doi.org/10.3390/su12010212
  34. Mottaleb, K.A. (2007), Determinants of foreign direct investment and its impact on economic growth in developing countries, https://mpra.ub.uni-muenchen.de/9457/1/MPRA_paper_9457.pdf (accessed: 2.10.2020).
  35. Palamuleni, M.L. (2018), Do remittances really attract foreign direct investments? Evidence from panel cointegration, "Theoretical and Applied Economics", XXV (4 (617), Winter), pp. 221-234, http://store.ectap.ro/articole/1369.pdf (accessed: 27.12.2019).
  36. Pesaran, M.H., Shin, Y., Smith, R.J. (2001), Bounds testing approaches to the analysis of level relationships, "Journal of Applied Econometrics", 16 (3), pp. 289-326, https://www.repository.cam.ac.uk/bitstream/handle/1810/418/pss1.pdf?s (accessed: 2.10.2020).
  37. Rahman, M.M., Fee, L.K. (2014), Understanding Remittances: Theoretical and Methodological Issues", [in:] Mi. Rahman, T. Yong, A. Ullah (eds.), Migrant Remittances in South Asia, Palgrave Macmillan, Basingstoke, pp. 33-51, https://doi.org/10.1057/9781137350800_2
  38. Ratha, D. (2013), The impact of remittances on economic growth and poverty reduction, "Policy Brief", 8 (1), pp. 1-13, https://www.migrationpolicy.org/pubs/Remittances-PovertyReduction.pdf (accessed: 27.12.2019).
  39. Saggi, K. (2002), Trade, foreign direct investment, and international technology transfer: A survey, "The World Bank Research Observer", 17 (2), pp. 191-235, https://doi.org/10.1093/wbro/17.2.191
  40. Stanley, T.D. (2001), Wheat from chaff: Meta-analysis as quantitative literature review, "Journal of Economic Perspectives", 15 (3), pp. 131-150, https://doi.org/10.1257/jep.15.3.131
  41. Switzerland Rated One of the Safest Countries by DKV, https://www.fus.edu/news-events/news/1193 (accessed: 14.02.2020).
  42. World Bank Group (2019), World Development Report 2019. The Changing Nature of Work, http://documents1.worldbank.org/curated/en/816281518818814423/pdf/2019-WDR-Report.pdf (accessed: 2.10.2020).
  43. World Bank Group (2020), World Development Report 2020. Trading for Development in the Age of Global Value Chains, http://documents1.worldbank.org/curated/en/310211570690546749/pdf/World-Development-Report-2020-Trading-for-Development-in-the-Age-of-Global-Value-Chains.pdf (accessed: 2.10.2020).
  44. World Happiness Report 2021, https://worldhappiness.report/ (accessed: 14.02.2020).
Cytowane przez
Pokaż
ISSN
1508-2008
Język
eng
URI / DOI
http://dx.doi.org/10.18778/1508-2008.24.11
Udostępnij na Facebooku Udostępnij na Twitterze Udostępnij na Google+ Udostępnij na Pinterest Udostępnij na LinkedIn Wyślij znajomemu