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Title:Inward FDI, value added and employment in US states: A panel cointegration approach PDF Logo
Authors:Ajaga, Elias
Nunnenkamp, Peter
Issue Date:2008
Citation:[Series:] Kiel working paper [Editor:] Institut für Weltwirtschaft, Kiel [No.:] 1420
Series/Report no.:Kieler Arbeitspapiere 1420
Abstract:This study investigates the long-run relationships between inward FDI and economic outcomes in terms of value added and employment at the level of US states. Johansen's (1988) cointegration technique and Toda and Yamamoto's (1995) Granger causality tests are applied to data for the period of 1977 to 2001. We find cointegration as well as two-directional causality between FDI and outcome variables. This holds for both measures of FDI (stocks and employment in foreign affiliates) and independently of whether we consider the states' overall economy or their manufacturing sector.
Subjects:FDI stocks
FDI-related employment
Gross state product
Manufacturing
Granger causality
JEL:O51
F23
O18
Document Type:Working Paper
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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