Exploring the Bidirectional Causality between Foreign Direct Investment and Economic Growth: Panel Evidence from MINT Countries

Özet

This study aims to reveal the direction and nature of the relationship between foreign direct investment (FDI) and economic growth in MINT countries (Mexico, Indonesia, Nigeria and Türkiye). In this study, annual data for the period 1970–2023 were analyzed using the Bootstrap Panel Causality test developed by Kónya (2006). According to the results of the analysis, there is a statistically significant and positive causality relationship from economic growth to FDI in Indonesia, Nigeria and Türkiye. In the analysis conducted for Mexico, no statistically significant relationship was found. On…

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