教育對國外直接投資與經濟成長之影響—金磚四國之實證研究

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Please use this identifier to cite or link to this item: https://irlib.pccu.edu.tw/handle/987654321/28370

Title:	教育對國外直接投資與經濟成長之影響—金磚四國之實證研究 Education, Foreign Direct Investment and Economic Growth: Evidence from the BRICs
Authors:	貝伯伯
Contributors:	國際企業管理學系
Keywords:	BRICs Education Economic Growth FDI Panel Data
Date:	2014
Issue Date:	2014-10-01 11:06:45 (UTC+8)
Abstract:	This paper explores relationships between education, foreign direct investment, economic growth and their interactions for the BRICs. The variables used in this study include foreign, direct investment, economic growth measured in terms of real GDP growth and education measured in terms of school enrollment rates for primary, secondary and tertiary. The study uses a panel data for the four countries covering the period from1990 to 2012. Analysis has been done using panel data analysis with fixed effects. The motivation that drives this investigation is the query about the relationship between education and economic growth and, moreover, to find out the relationship between education and foreign direct investments since different findings are obtained. Economic theories suggest that education is positively related to growth. One strand of the literature emphasizes human capital as an additional production factor, along with labor and physical capital. Mankiw (1992) augment the Solow model with human capital and show that the econometric fit of a cross section growth regression is much better when this factor is considered. Evidence indicates that economic growth is significantly influenced by tertiary expansion and FDI growth with the coefficients estimated to be 0.2652 and 0.0444 while the coefficient of interaction between tertiary expansion and FDI growth is found -0.0045, implying that the effect of tertiary expansion (FDI) on economic growth declines as FDI growth (tertiary expansion) increases. This study finds that tertiary education plays a more crucial role in influencing economic growth than primary and secondary education, as is found by Chi (2008) and Zhuang and Zhuang (2011). Evidence next suggests that FDI growth is significantly by economic growth with the coefficient estimated to be 2.9774, while the coefficients of tertiary education and interaction between tertiary education and economic growth are found statistically insignificant, implying that education has no direct effects on foreign direct investment or indirect effects on foreign direct investment through its interaction with economic growth. Finally, evidence shows that tertiary expansion is significantly influenced by economic growth with the coefficients estimated 0.1493 while the coefficient of interaction between economic growth and FDI growth is found -0.0054. It is found that the effect of economic growth on tertiary expansion declines as FDI growth increases and FDI growth influences tertiary expansion only through its influence on the relationship between economic growth and tertiary expansion. We hope that the analysis done in this paper will provide better information about relationships between education, foreign direct investment, economic growth, and their interactions for fast growing countries like BRICs. It is relevant to approach education no as a uniform concept but as a concept that has different categories and different relevance within a country’s economy.
Appears in Collections:	[Department of Business Administration & Graduate Institute of International Business Administration ] Thesis

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