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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Does economic freedom enhance the impact of foreign direct investment on economic growth in north African countries? A panel data analysis
Authors:Zghidi, Nahed
Sghaier, Imen Mohamed
Abida, Zouheir
Periodical:African Development Review (ISSN 1467-8268)
Geographic term:Northern Africa
Subjects:foreign investments
economic policy
Abstract:This article investigates the causal interactions between foreign direct investment (FDI), economic freedom and economic growth on a panel of four North African countries (Tunisia, Morocco, Algeria and Egypt), over a 5-year period from 1980 to 2013. Using the System Generalized Method of Moments (GMM) in a panel data analysis, the authors found strong evidence of a positive link between FDI and economic growth. They also found that economic freedom appears to be working as a complement to FDI and that the effect of FDI is more pronounced in the presence of the economic freedom variable. This means that the countries which promote greater freedom of economic activities benefit more from the presence of multinational corporations (MNCs). Bibliogr., notes, sum. [Journal abstract]