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Title
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Foreign Capital Inflows and Economic Growth of Iran
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Type
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JournalPaper
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Keywords
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Economic Growth, Foreign Direct Investment, Iran, Personal Remittances, Official Development Investment.
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Abstract
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Nowadays, foreign capital inflows (FCIs) are considered as a catalyst for economic development and an important source of transferring technology and foreign exchange earnings from developed to developing countries. The purpose of this paper is to estimate the impact FCIs (which include foreign direct investment, personal remittances and official development investment) on economic growth in Iran. This aim is achieved by using Autoregressive Distributed Lag (ARDL) approach over the period 1992-2016. The results of the study indicate that all the three of foreign capital inflows have positive and significant impacts on economic growth in the long and short-run. However, FDI and PR have more effects than ODA on economic growth of Iran. The study suggests the design and implementation of good fiscal, monetary and trade policies to complement the flow of foreign capital inflows to transfer the realization of its full impact on growth.
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Researchers
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Mohammad mowlaei (First Researcher)
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