The Impact of Currency Crises on Economic Growth and FDI
An Analisis of Emerging and Developing Economies
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This book focuses on the possible effects of currency crises on different economic indicators, with special attention to economic growth and foreign direct investment. There is insufficient research on this topic to draw any firm conclusions about the associations between currency crises and these variables. It appears that the impact of currency crises on economic growth and foreign direct investment is negative respectively. However, this study reveals that foreign direct investment can be positively correlated with currency crises as contrary to the common belief. The study analyzes these r...
This book focuses on the possible effects of currency crises on different economic indicators, with special attention to economic growth and foreign direct investment. There is insufficient research on this topic to draw any firm conclusions about the associations between currency crises and these variables. It appears that the impact of currency crises on economic growth and foreign direct investment is negative respectively. However, this study reveals that foreign direct investment can be positively correlated with currency crises as contrary to the common belief. The study analyzes these relationships through dynamic panel models using the annual panel data for 71 emerging and developing countries. Generalized method of moments estimators are used to obtain efficient and consistent results to achieve necessary conclusions. The main results indicate that the presence of a currency crisis in a particular economy has a negative impact on economic growth, while its effect on foreign investment inflows is most likely positive. Robustness tests demonstrate that used models in the study are both economically and econometrically robust and valid.
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