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.AbstractThisstudyisacontributiontothedebateontherelationshipbetweenFDIan

2、dgrowth.TheideathattheallegedlinkbetweenFDIandgrowthisrathertheconsequenceofbothFDIandgrowthrespondingendogenouslytoeconomicintegrationistestedempirically.Theresultsconfirmpreciselythispoint:itisnotFDIassuchbuteconomicintegration,inanyformorshapethatdeterminesgrowth.Introd

3、uctionTherelationshipbetweenFDIandgrowthisoneofthemostintensivelyresearchedissuesininternationaleconomics.Thereisafairamountofevidencesuggestinghatthereexistsapositiverelationshipbetweenthesetwoquantities,albeitwithsomequalifications(see,amongothers,Borenzsteinetal.1998).M

4、orecontroversialhasbeentheissuewhetherunderpinningsuchapositiverelationshipthereiscausalityrunningfromFDItogrowthornot.OnerecenttwistonthisdebatehasbeenprovidedrecentlybyTingGao(2005).AccordingtoTingGao’spaper,theoftenobservedpositivecorrelationbetweenFDIandgrowthmightnoti

5、mplyanycausalrelationship,sincebothofthemmightrespondendogenouslytoeconomicintegration.Thesituationhesuggestsisliketheoneillustratedinflowchart1below:TheEconometricFrameworkThisstudyaimsattestingtheexistenceofacausalrelationshipthatrunsfromeconomicintegrationthroughFDItogr

6、owth.Withthisobjectiveinmind,the6followingeconometricspecificationisused:Theeconometricspecificationconsistsofastructuralmodelmadeupoftwoequations.ThefirsthastheratioofFDIflowtoGDP(FDI)asthedependentvariable,whichisregressedoneconomicintegration(Integr),onaninstrumentforFD

7、Iandonasetofthreecontrolvariables(controls).Thesecondequationhasthegrowthrateofoutput(g)asthedependentvariable,andthisisregressedonFDI,economicintegrationandthesamesetofcontrolvariables.Estimationisdoneviatwo-stageleastsquares(2SLS),themostcommonmethodusedforestimatingsimu

8、ltaneous-equationmodels(seeGreene,2003).Thequalityofthisstudyhingesagreatdealonthechoiceo