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The impact of crowds in or crowds out on the domestic investment

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dc.contributor.author Sikharulidze, David
dc.date.accessioned 2019-11-11T08:45:49Z
dc.date.available 2019-11-11T08:45:49Z
dc.date.issued 2018
dc.identifier.citation III International Scientific Conference: "Challenges of Globalization in Economics and Business", Tbilisi, 2018, pp. 352-358 en_US
dc.identifier.isbn 978-9941-13-764-8
dc.identifier.uri http://dspace.tsu.ge/xmlui/handle/123456789/369
dc.description 1. Agosin Manuel, M. R. (2005). Foreign Investment în Developing Countries: Does it Crowd in Domestic Investment? Taylor and Francis Journals, vol. 33(2), pp. 149-162. 2. Agosin, M. R. (2000). Foreign Investment in developing countries, Does it crowd in domestic investment? . INCTAD. 3. Agosin, M. R. (2000). Foreign investment developing countries Does it Crowd in Domestic Investment? United Nations (UN) Conference on Trade and Development. Retrieved from http://unctad.org/en/docs/dp_146.en.pdf 4. Borensztein, E. D.-W. (1998). How Does Foreign Direct Investment Affect Economic Growth? Journal of International Economics, 45, 115-135. Retrieved from http://www.sciencedirect.com/science/article/pii/S0022199697000330 5. De Backer, K. &. (2003). Does foreign direct investment crowd out domestic entrepreneurship? Review of Industrial Organization, 22(1), 67-84. 6. De Mello, L. (1999). Foreign direct investment- led growth: evidence from time series and panel data. Oxford Economic Papers, 51(1), 133–151. 7. Fry, M. (1993). Foreign Direct Investment in a Macroeconomic Framework: Finance, Efficiency, Incentives and Distortions. Policy Research Working Paper, No. 1141. Retrieved from http://wwwwds.worldbank.org/external/default/WDSContentServer/WDSP/IB/1993/05/01/000009265_3961004180626/Rendered/PDF/multi0page.pdf 8. Harrison, A. E. (2004). Global capital flows and financing constraints. Journal of Development Economics, 75, 269-301. 9. Leahy, D. &. (2000). The Economic Journal. 110 (462), 80-92. 10. Rama, M. (1993). Empirical investment equations for developing countries. pp. pp 107-143. 11. Solow, R. M. (1956). A contribution to the theory of economic growth. Quarterly, 70, 65-94. 12. Titarenko, D. (2006). The influence of foreign direct investment on domestic investment processes in Latvia. 7, 76-83. 13. UNCTAD. (1999). Development, Foreign Direct Investment and the Challenge of of Development. Geneva. 14. Wang, M. (2010). Foreign direct investment and domestic investment in the host country: evidence from panel study. Applied Economics, 42(29), 371-372. en_US
dc.description.abstract The growth of Multinational Enterprises (MNEs) activities through Foreign Direct Investments (FDI) in developed and developing countries have largely attracted the attention of policy makers because of the expected positive impacts they may have on receiving countries. But the relationship between foreign direct investment (FDI) and domestic investment is a controversial issue in the economic literature. One of the main debates is whether FDI crowds in or crowds out domestic investment. On one hand, by creating spillover effects, FDI may lead to new or higher amounts of domestic investment where it would not be possible in the absence of FDI, thus have a “crowding in” effect. On the other hand, due to the loss of competitiveness of the domestic firms FDI carries a risk of crowding-out for domestic investment. An attempt has been made in this paper to check the process and extent of crowding-in and crowding-out impacts of FDI in Georgia. In this paper, the relationship between FDI and domestic investment in Georgia will be explored for the post 1990 period. The data used for FDI and domestic investment are inward FDI flows to the country and gross capital formation, respectively. The results of econometric analysis of the total investment model presented in this paper show the evidence of crowding out long-term effect of FDI on investment in Georgia. en_US
dc.language.iso ge en_US
dc.publisher Ivane Javakhishvili Tbilisi State University Press en_US
dc.subject Foreign direct investment; Economic growth; Crowding in and Crowding out effects en_US
dc.title The impact of crowds in or crowds out on the domestic investment en_US
dc.type Article en_US

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