Foreign Direct Investment and Trade: A Causality Analysis |
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| Authors: | Bajo-Rubio Oscar Montero-Muñoz María |
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| Affiliation: | (1) Departamento de Economía, Universidad Pública de Navarra, 31006 Pamplona, Spain;(2) Departamento de Fundamentos da An!["amacr"]("/content/xv11218xmv74vh7g/xlarge257.gif") lise Econ!["omacr"]("/content/xv11218xmv74vh7g/xlarge333.gif") mica, Universidade de Vigo, 36200 Vigo, Spain |
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| Abstract: | ![]()
In this article, we analyze the relationship between outward foreign direct investment (FDI) and exports, using Spanish quarterly data for the period 1977–1998, by means of Granger causality tests in a cointegration framework. Our results point to the existence of a relationship of complementarity between both variables, with Granger causality running in the short run from outward FDI to exports, and bilateral Granger causality in the long run. |
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| Keywords: | foreign direct investment exports Granger causality |
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