The Relationship between FDI and Growth under Economic IntegrationIs There One【外文翻译】

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1、本科毕业论文外文翻译外文题目：TheRelationshipbetweenFDIandGrowthunderEconomicIntegration:IsThereOne?出处：InternationalConferenceonEmergingEconomicIssuesinaGlobalizingWorld作者：AntonioMarascoLahoreUniversity,Pakistan原文：1.AbstractThisstudyisacontributiontothedebateontherelationshipbetweenFDIandgrowth.Theid

2、eathattheallegedlinkbetweenFDIandgrowthisrathertheconsequenceofbothFDIandgrowthrespondingendogenouslytoeconomicintegrationistestedempirically.Theresultsconfirmpreciselythispoint:itisnotFDIassuchbuteconomicintegration,inanyformorshapethatdeterminesgrowth.IntroductionTherelationshipbetwe

3、enFDIandgrowthisoneofthemostintensivelyresearchedissuesininternationaleconomics.Thereisafairamountofevidencesuggestinghatthereexistsapositiverelationshipbetweenthesetwoquantities,albeitwithsomequalifications(see,amongothers,Borenzsteinetal.1998).Morecontroversialhasbeentheissuewhetheru

4、nderpinningsuchapositiverelationshipthereiscausalityrunningfromFDItogrowthornot.OnerecenttwistonthisdebatehasbeenprovidedrecentlybyTingGao(2005).AccordingtoTingGao’spaper,theoftenobservedpositivecorrelationbetweenFDIandgrowthmightnotimplyanycausalrelationship,sincebothofthemmightrespon

5、dendogenouslytoeconomicintegration.Thesituationhesuggestsisliketheoneillustratedinflowchart1below:TheEconometricFrameworkThisstudyaimsattestingtheexistenceofacausalrelationshipthatrunsfromeconomicintegrationthroughFDItogrowth.Withthisobjectiveinmind,the6followingeconometricspecificatio

6、nisused:Theeconometricspecificationconsistsofastructuralmodelmadeupoftwoequations.ThefirsthastheratioofFDIflowtoGDP(FDI)asthedependentvariable,whichisregressedoneconomicintegration(Integr),onaninstrumentforFDIandonasetofthreecontrolvariables(controls).Thesecondequationhasthegrowthrateo

7、foutput(g)asthedependentvariable,andthisisregressedonFDI,economicintegrationandthesamesetofcontrolvariables.Estimationisdoneviatwo-stageleastsquares(2SLS),themostcommonmethodusedforestimatingsimultaneous-equationmodels(seeGreene,2003).Thequalityofthisstudyhingesagreatdealonthechoiceo