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Foreign Direct Investment and Economic Growth of Africa

机译：外国直接投资与非洲经济增长

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摘要

There is voluminous empirical research dealing with the relationship between foreign direct investment (FDI) and the growth of gross domestic product (GDP) in developing countries. The theoretical underpinnings of this literature are such that an inflow of foreign capital constitutes a net addition to resources available for investment, while an inflow of foreign resources induces public and private sectors to save less and to consume more domestic resources. Thus, the former will predict a growth augmenting effect and the latter a growth retarding effect. However, the empirical literature is short on the role of FDI in the economic growth of African countries. Given the fact that the concern for rapid economic growth is one of the key policy issues in the region, this neglect is unfortunate and needs to be redressed. Against this backdrop, our objective was to examine the effects of FDI on economic growth of 47 African countries during the period of 1990-2003.
机译：关于外国直接投资（FDI）与发展中国家的国内生产总值（GDP）增长之间的关系，有大量的实证研究。这些文献的理论基础是，外国资本的流入构成可供投资的资源的净增加，而外国资源的流入促使公共和私营部门减少储蓄并消费更多的国内资源。因此，前者将预测生长促进作用，而后者将抑制生长作用。但是，关于外国直接投资在非洲国家经济增长中的作用的经验文献不足。鉴于对快速经济增长的关注是该地区的主要政策问题之一，这种疏忽是不幸的，需要纠正。在此背景下，我们的目标是研究1990-2003年期间外国直接投资对47个非洲国家经济增长的影响。

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