International Journal For Multidisciplinary Research

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Determinants of Foreign Direct Investment Inflow to ECOWAS Member Countries

Author(s) Philip Asiedu Kyeremateng, Godwill Atta Boakye
Country Ghana
Abstract The benefits of FDI to host economies can never be overlooked by policymakers in their quest to formulate a policy driven. FDI aids the recipient economies through solving the savings deficiency problems, introduction of new technology, bridging revenue gap and addressing issues relating to management and many others. The study sought to investigate the determinants of FDI inflow into ECOWAS member countries using panel data from the time period of 1990-2017. The study specifically aimed to investigate the differential effect of external debt, political stability, trade openness and inflation on FDI flow to ECOWAS member countries in the long run and also to investigate whether the variables of concern jointly influence FDI into ECOWAS member countries in the long run. The countries of interest were Ghana, Togo, Nigeria, Niger, Cape Verde, Cote d’Ivoire, Senegal, Benin, Burkina Faso and Mali. The results based on panel Dynamic Ordinary Least Squares (PDOLS) show that trade openness and political stability have a positive and significant effect on FDI. Inflation and external debt do not have a significant effect on FDI inflows. Also, trade openness, political stability, inflation and external debt do not jointly influence FDI.
Keywords Foreign Direct Investment (FDI), Economic Growth, Globalization, Policymaker
Field Sociology > Banking / Finance
Published In Volume 5, Issue 2, March-April 2023
Published On 2023-04-02
Cite This Determinants of Foreign Direct Investment Inflow to ECOWAS Member Countries - Philip Asiedu Kyeremateng, Godwill Atta Boakye - IJFMR Volume 5, Issue 2, March-April 2023. DOI 10.36948/ijfmr.2023.v05i02.2003
DOI https://doi.org/10.36948/ijfmr.2023.v05i02.2003
Short DOI https://doi.org/gr4k6t
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