Export led growth and foreign direct investment: the Zimbabwean experience

Mafusire, Albert (2001) Export led growth and foreign direct investment: the Zimbabwean experience. Discussion Papers, Department of Economics, University of Queensland Discussion Paper No. 295, School of Economics, The University of Queensland.

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Author Mafusire, Albert
Title Export led growth and foreign direct investment: the Zimbabwean experience
School, Department or Centre School of Economics
Institution The University of Queensland
Report Number Discussion Paper No. 295
Series Discussion Papers, Department of Economics, University of Queensland
Publication date 2001-09-01
Start page 1
End page 25
Total pages 25
Publisher School of Economics, University of Queensland
Language eng
Subject 340206 International Economics and International Finance
K
340213 Economic Development and Growth
720399 International trade issues not elsewhere classified
Formatted Abstract/Summary Most developing countries that have embarked on structural adjustment have embraced export promotion strategies. In Zimbabwe's case, export promotion is coupled with attempts to increase flows of foreign capital. However, there is no universal agreement on the efficacy of such policies. The shift in policy, though, should not be viewed as a bandwagon effect as shown by results from this paper. The author employs a vector autoregression (VAR) to test for causation between GNP, exports and FDI. While some theoretical justification for adopting this methodology is provided, limitations of this study are also highlighted. It is concluded that causation between the variables cannot be rejected and that significantly strong feedback effects exist. As such, complementary policies need to be clearly designed if the desired economic turnaround is to be realised.
Keyword Foreign direct investment
Complementarity hypothesis
Export-led growth
Vector autoregression
Causality
Developing countries
Zimbabwe
Capital inflow
Export promotion
Foreign capital
VAR
Additional Notes ISSN 1033-4661

Document type: Department Technical Report
Collection: Discussion Papers (School of Economics)
 
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Created: Wed, 14 Jul 2004, 10:00:00 EST by Michael Paul Fagg on behalf of Social Sciences and Humanities Library Service