Remittances and FDI Effects on Economic Growth: A VECM and GIRFs for the Case of Albania
JOURNAL OF EAST-WEST BUSINESS(2018)
摘要
This paper analyzes the effects of remittances and foreign direct investments (FDI) on economic growth, gross fixed capital formation (GFCF), and inflation in Albania through a vector error correction model. The results show that remittances Granger-cause positively economic growth short- and long-run and negatively inflation, while no significant relationship has been established between remittances and GFCF. The findings support that remittances, apart from affecting economic growth, disinflate the Albanian economy. With respect to FDI, there are signs that inflation Granger-causes negatively FDI, while there appears to be no relationship between FDI, economic growth, and capital formation.
更多查看译文
关键词
Cointegration,economic growth,foreign direct investment,granger-causality,gross fixed capital formation,impulse response functions and generalized impulse response functions,inflation,lag length criteria,remittances,unit root,vector error correction model
AI 理解论文
溯源树
样例
生成溯源树,研究论文发展脉络