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FDI Flows to Low-Income Countries: Global Drivers and Growth Implications
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Author/Editor: |
Dabla-Norris, Era | Honda, Jiro | Lahrèche-Révil, Amina | Verdier, Geneviève |
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June 1, 2010 |
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Electronic Access: |
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
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Summary: What accounts for variations in FDI flows from advanced to developing countries? How have FDI inflows explained cross-country growth experiences? In this paper we tackle both these questions empirically for a large sample of middle and low-income countries. Two key results emerge: (i) lower borrowing costs and positive real-side external factors were increasingly important drivers of FDI outflows to low-income countries in the pre-crisis period; (ii) economic fundamentals, the strength of economic reforms, and commitment to macroeconomic discipline are crucial determinants of the growth dividends of FDI. Our paper suggests that low-income countries can turn to domestic policy solutions to mitigate the adverse effects of a potential decline in FDI in the post-crisis world.
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Order a print copy
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Series: |
Working Paper No. 10/132 |
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Subject(s): |
Business cycles | Economic growth | Cross country analysis | Foreign direct investment | Global Financial Crisis 2008-2009 | Low-income developing countries |
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Author's keyword(s): |
FDI | economic growth | business cycle | low-income countries |
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Published: |
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June 1, 2010 |
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Format: |
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Paper |
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Stock No: |
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WPIEA2010132 |
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Pages: |
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38 |
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Price: |
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US$18.00 (Academic Rate: US$18.00 )
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