Endogenous Determination of FDI Growth and Economic Growth:The OECD Case

(2003)	1989 - 1996 1989 - 2000
Zhang & Ram __________(2002)__________	85 countries 1990 - 1997	OLS	________________There is a positive relationship between FDI and economic growth in 1990s.________________
Carkovic & Levine __________(2002)__________	72 developed and developing countries 1960 - 1995	OLS and GMM	FDI alone has no statistically significant affect on economic growth.
Alfaro, Chanda, Kalemli- Ozcan & Sayek (2002)	1. sample : 20 OECD countries and 51 non-OECD countries 1975 - 1995 2. sample : 20 OECD countries and 29 non-OECD countries 1980 - 1995	OLS	FDI alone has an ambiguous affect on economic growth. However, the countries which have developed financial markets can benefit from FDI.
Reisen & Soto __________(2001)__________	44 countries 1986 - 1997	GMM	FDI and portfolio investments affect economic growth positively.
Obwona __________(2001)__________	Uganda 1975 - 1991	2 Stage Least ______Squares______	FDI has a positive effect on economic growth in Uganda.
Berthelemy & Demurger __________(2000)__________	24 Chinese provinces 1985 - 1996	GMM	FDI plays an important role in the economic growth of Chinese provinces.
De Mello (1999)	32 OECD and non-OECD countries 1970 - 1990	Augmented Dickey-Fuller, Panel Cointegration,OLS	There is an inverse relationship between the difference of technologically leader countries and their followers, and effect of FDI on economic growth.
Nair — Reichert & Weinhold (1999)	24 developing countries 1971 - 1995	MFR model (mixed fixed and random model) Causality Test	Although there is heterogeneity between countries, the affect of FDI on future economic growth rates is more in more open countries.
Balasubramanyam, Salisu & Sapsford	46 countries	OLS	___________________FDI - labor force relations play an important role in the growth process.___________________

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