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The causal relationship between information and communication technology and foreign direct investment
Operation and Information Management Group, Aston Business School, Hanyang University, Seoul, South Korea.
College of Information and Communications, Hanyang University, Seoul, South Korea.
TEPP College of Engineering, Seoul National University, Seoul, South Korea.ORCID iD: 0000-0002-7902-4683
2006 (English)In: The World Economy, ISSN 0378-5920, E-ISSN 1467-9701, Vol. 29, no 1, p. 43-62Article in journal (Refereed) Published
Abstract [en]

This paper investigates the simultaneous causal relationship between investments in information and communication technology (ICT) and flows of foreign direct investment (FDI), with reference to its implications on economic growth. For the empirical analysis we use data from 23 major countries with heterogeneous economic development for the period 1976-99. Our causality test results suggest that there is a causal relationship from ICT to FDI in developed countries, which means that a higher level of ICT investment leads to an increase inflow of FDI. ICT may contribute to economic growth indirectly by attracting more FDI. Contrarily, we could not find significant causality from ICT to FDI in developing countries. Instead, we have partial evidence of opposite causality relationship: the inflow of FDI causes further increases in ICT investment and production capacity. ©United Nations University 2006.

Place, publisher, year, edition, pages
2006. Vol. 29, no 1, p. 43-62
Keywords [en]
economic development; economic growth; empirical analysis; foreign direct investment; information and communication technology
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-24466DOI: 10.1111/j.1467-9701.2006.00757.xScopus ID: 2-s2.0-33645943061OAI: oai:DiVA.org:hj-24466DiVA, id: diva2:742830
Available from: 2014-09-02 Created: 2014-09-01 Last updated: 2017-12-05Bibliographically approved

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Heshmati, Almas

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