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- Title
The Contribution of Foreign Direct Investment to Growth and Stability.
- Authors
Fan, Xiaoqin; Dickie, Paul M.
- Abstract
The Asian financial crisis has raised doubts about the role of foreign capital in future economic development of ASEAN. This article looks at the FDI component of foreign capital and examines its contribution to growth and stability in the ASEAN-5 economies. Based upon a simple growth accounting framework, the findings indicated that FDI direct(v accounted for 4 to over 20 per cent of GDP growth in the ASEAN-5 during the 1987-97 period. Moreover, FDI inflows were found to be a stabilizing factor during the Asian financial crisis. These positive results need to be factored into future policy deliberations on the appropriate role of foreign capital in ASEAN development.
- Subjects
SOUTHEAST Asia; FOREIGN investments; ECONOMIC development
- Publication
ASEAN Economic Bulletin, 2000, Vol 17, Issue 3, p312
- ISSN
0217-4472
- Publication type
Article
- DOI
10.1355/AE17-3F