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Sustainability 2018, 10(1), 238; https://doi.org/10.3390/su10010238

The Impact of Foreign Direct Investments and Remittances on Economic Growth: A Case Study in Central and Eastern Europe

1,2,∗,†,‡,* , 1,‡
,
3,‡
and
1,2,‡
1
Financial-Accounting Department, Faculty of Business and Law, Petru Maior University of Tîrgu-MureŞ, Tîrgu-MureŞ 540 088, MUREŞ County, Romania
2
Romanian Research Group for Corporate Finance, Aleea Nordului 1, Livezeni 547 365, MUREŞ County, Romania
3
Institute of National Economy, Romanian Academy, Casa Academiei, Calea 13 Septembrie 13, Sector 5, Bucharest 050 711, Romania
Current address: Nicolae Iorga 1, Tîrgu-MureŞ 540 088, MUREŞ County, Romania.
These authors contributed equally to this work.
*
Author to whom correspondence should be addressed.
Received: 4 December 2017 / Revised: 8 January 2018 / Accepted: 9 January 2018 / Published: 18 January 2018
(This article belongs to the Section Sustainable Urban and Rural Development)
Full-Text   |   PDF [757 KB, uploaded 18 January 2018]   |  

Abstract

This paper investigates the impact of Foreign Direct Investment (FDI) and remittances on Economic Growth (EG), using panel data of seven countries from Central and Eastern Europe with a Gross Domestic Product (GDP) per capita under 25,000 $. The empirical literature stressed the relationships between FDI and remittances and economic growth, and our purpose is to identify if there are significant relationships between FDI, remittances and economic growth in the seven analyzed countries. We find a positive impact of both FDI and remittances on GDP, but the influence of FDI is higher in all analyzed states, with accepting the assumption of ceteris paribus principles in limiting research caused by other possible determinants. View Full-Text
Keywords: remittances; foreign direct investments; economic growth; panel data analysis; hierarchical cluster analysis remittances; foreign direct investments; economic growth; panel data analysis; hierarchical cluster analysis
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This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).
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Comes, C.-A.; Bunduchi, E.; Vasile, V.; Stefan, D. The Impact of Foreign Direct Investments and Remittances on Economic Growth: A Case Study in Central and Eastern Europe. Sustainability 2018, 10, 238.

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