Journal
SUSTAINABILITY
Volume 10, Issue 1, Pages -Publisher
MDPI
DOI: 10.3390/su10010238
Keywords
remittances; foreign direct investments; economic growth; panel data analysis; hierarchical cluster analysis
Funding
- project entitled Horizon 2020-Doctoral and Postdoctoral Studies: Promoting the National Interest through Excellence, Competitiveness and Responsibility in the Field of Romanian Fundamental and Applied Scientific Research [POSDRU/159/1.5/S/140106]
- European Social Fund through the Sectoral Operational Programme for Human Resources Development. Investing in people
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This paper investigates the impact of Foreign Direct Investment (FDI) and remittances on Economic Growth (EG), using panel data of seven countries from Central and Eastern Europe with a Gross Domestic Product (GDP) per capita under 25,000 $. The empirical literature stressed the relationships between FDI and remittances and economic growth, and our purpose is to identify if there are significant relationships between FDI, remittances and economic growth in the seven analyzed countries. We find a positive impact of both FDI and remittances on GDP, but the influence of FDI is higher in all analyzed states, with accepting the assumption of ceteris paribus principles in limiting research caused by other possible determinants.
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