Bootstrap Causality among Foreign Direct Investment, Exports and Economic Growth in Burundi
Journal of Economics, Management and Trade · pp. 2022–2033 · Published 21 Aug 2014
10.9734/BJEMT/2014/12454Abstract
Aims: This paper examines the causal links among Foreign Direct Investment (FDI), exports and economic growth in Burundi. Methodology: The paper applies bootstrap causality tests to account for non-normality in error terms and the presence of ARCH effects in which case the Wald statistic does not follow the usual distribution thus biasing causality tests. Results: The findings reveal that there is no causality whatsoever among FDI, exports and economic growth in Burundi, rejecting FDI-led export, export-led growth and FDI-led growth hypotheses. Conclusion: The results imply that FDI and exports are not engines of growth for Burundi. Sources of growth which are desperately needed should be sought for elsewhere.
Cited by 2
Bert Ingelaere, Réginas Ndayiragije, Marijke Verpoorten · WIDER Working Paper · 2022
Murat TURGUT · Econder International Academic Journal · 2021
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