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Doucouliagos, H., Iamsiraroj, S. Ulubasoglu, M.A., 2010. Foreign Direct Investment and Economic Growth: A real relationship or wishful thinking? Deakin University Working paper SWP 2010/14.
Eichengreen, B., 2008. The Real Exchange Rate and Economic Growth. Commission on Growth and Development Working Paper 4.
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- FDI/GDP: Net FDI inflows in US dollars divided by GDP (Five-year average). Source: UNCTAD (2008).
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Freedom House 2010. Freedom in the World (online version) Griffith, R., 1999. Using the ARD establishment level data to look at foreign ownership and productivity in the United Kingdom. Economic Journal 109 (456), F416-F442.
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- GDP: Gross Domestic Product in current US dollars. Source: World Bank (2010).
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Griffith, R., Redding, S., Simpson, H., 2004. Foreign ownership and productivity: new evidence from the service sector and the R&D lab. Oxford Review of Economic Policy 20(3), 440-456.
Harrison, A., RodrÃguez-Clare, A., 2010. Trade, Foreign Investment, and Industrial Policy for Developing Countries, in D. Rodrik and M.R. Rosenzweig (eds.), Handbook of Development Economics 5, 4039-4214.
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- Initial GDP per capita: Natural logarithm of initial GDP per capita in constant international dollars. Source: Heston et al. (2009), series RGDPCH.
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- Initial stock of FDI relative to GDP. Source: Lane and Milesi-Ferretti (2007). Lagged growth rate of a weighted average of trading partners’ GDP (five-year average).
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- Initial urban population as percentage of total population. Source: World Bank (2010).
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- Instruments Initial number of telephone main lines per 1000 inhabitants. Source: World Bank (2010).
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- International Country Risk Guide’s measure of corruption (five-year average). Source: Political Risk Services (2008).
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- Investment profile: Rating of the government’s attitude to inward investment as the sum of three sub-components, each with a maximum score of four points (very low risk) and a minimum score of 0 points (very high risk). The subcomponents are risk of expropriation or contract viability, payment delays and barriers on the repatriation of profits (Five-year average). Source: Political Risk Services Group (2008).
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- Investment/GDP: Investment Share of Real Gross Domestic Product per Capita, current price (Five-year average). Source: Heston et al. (2009), series ci.
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Islam, N., 1995. Growth Empirics: A Panel Data Approach. Quarterly Journal of Economics 110(4), 1127-1170.
Javorcik, B.S., 2004. Does foreign direct investment increase productivity of domestic firms? In search of spillovers through backward linkages. American Economic Review 94(3), 605-627.
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Lensink, R., Morrissey, O., 2006. Foreign Direct Investment: Flows, Volatility, and the Impact on Growth. Review of International Economics 14(3), 478-493.
Levchenko, A.A., Mauro, P., 2007. Do Some Forms of Financial Flows Help Protect Against Sudden Stops? World Bank Economic Review 21(3), 389-411.
Lipsey, R.E., Sjöholm, F., 2004. Foreign Direct Investment, Education and Wages in Indonesian Manufacturing. Journal of Development Economics 73(1), 415-422.
- Log(inflation rate): Logarithm of CPI inflation rate (Five-year average). Source: World Bank (2010).
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- M&A sales/GDP: Mergers and acquisitions sales in US dollars divided by GDP (Five-year average). Source: UNCTAD (2007). Greenfield FDI/GDP: Difference between FDI/GDP and M&A sales/GDP.
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Mankiw, N.G., Romer, D., Weil, D. 1992. A Contribution to the Empirics of Economic Growth. Quarterly Journal of Economics 107(2), 407-437.
Marin, A., Bell, M., 2006. Technology spillovers from Foreign Direct Investment (FDI): the active role of MNC subsidiaries in Argentina in the 1990s. Journal of Development Studies 42(4), 678-697.
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- Other capital: Direct Investment Other Capital in Reporting Economy, net. Source: IMF (2010).
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- Political Risk Services 2008: International Country Risk Guide.
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- Population growth: Growth rate of population over five-year interval. Source: Heston et al. (2009).
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- Population: Population (Five-year average). Source: Heston et al. (2009), series POP. M&A/sales/Pop.: Ratio of M&A sales and Population. Greenfield FDI/Pop.: Ratio of Greenfield FDI and Population.
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Prasad, E.S., Rajan, G. R. Subramanian, A., 2007. Foreign Capital and Economic Growth. Brookings Papers on Economic Activity, 38(1), 153-230.
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Tong, H., Wei, S.-J., 2009. The Composition Matters: Capital Inflows and Liquidity Crunch During a Global Economic Crisis, NBER Working Paper 15207.
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Velde, D.W. te, Morrissey, O., 2003. Do workers in Africa get a wage premium if employed in firms owned by foreigners? Journal of African Economies 12(1),41-73.
World Bank 2010. World Development Indicators (online version).