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首页> 外文期刊>Journal of business and economic perspectives >The Impact of Real Exchange Rate and Foreign Direct Investment on Economic Development of Kuwait: An Empirical Analysis
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The Impact of Real Exchange Rate and Foreign Direct Investment on Economic Development of Kuwait: An Empirical Analysis

机译:实际汇率和外国直接投资对科威特经济发展的影响:一项实证分析

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摘要

This research aims at observing any prospect of the relationship between the real exchange rate, financial development and economic development of Kuwait. This research made used of annual data starting from 1983-2017, taken from the world development indicators of the World Bank. This study used various econometric tools such as ADF test, to find out the order of integration among variables; ARDL bound testing technique to find out the long and short-run association between variables. The outcomes of this paper support a long and short-run association between studied variables. The results of Granger causality test, showed evidence of unidirectional causality running from GDP to RER and RER to FD1. Additionally, an evidence of bidirectional causality running between GDP and FD1. These results further suggest that the role of FDI is crucial for the economic development of Kuwait, and policy-makers must consider as an essential macroeconomic indicator.
机译:这项研究旨在观察科威特实际汇率,金融发展与经济发展之间关系的任何前景。这项研究利用了从1983-2017年开始的年度数据,这些数据取自世界银行的世界发展指标。这项研究使用了各种计量经济学工具(例如ADF测试)来找出变量之间的积分顺序。 ARDL绑定测试技术可以找出变量之间的长期和短期关联。本文的结果支持了研究变量之间的长期和短期关联。 Granger因果关系检验的结果显示了从GDP到RER以及RER到FD1的单向因果关系的证据。此外,GDP与FD1之间存在双向因果关系的证据。这些结果进一步表明,外国直接投资的作用对科威特的经济发展至关重要,决策者必须将其视为基本的宏观经济指标。

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