Bibliometric analysis of foreign direct investment and economic growth relationship. A research agenda
Abstract
The relationship between foreign direct investment and economic growth is a relationship that has long been studied in the economic literature, of particular importance for the economic and social development of any nation. The main objective of this paper is to analyze the scientific output in this scientific area, based on a bibliometric analysis, in order to identify some trends and to explain some phenomena within the economic reality.
The paper analyzed 2281 documents from the Scopus database, using tools provided by the aforementioned database, VOSViewer and Citespace software. The analysis was carried out on several levels: typology of information dissemination, thematic area of publications, temporal/geographical distribution of documents and their scientific content.
Among the findings authors can mention that the connection between foreign direct investment and economic growth is very strong (according to the cluster analysis in VOSViewer); consequently, the focus of the authors migrated from general economic aspects of the relationship to the elements of ecology and environmental protection. Going deeper with the analysis, conducting two parallel analysis of the papers with highest citation burst and keywords with highest citation strength values, some interesting trends were found in the relationship between foreign direct investment and economic growth.
First published online 29 December 2020
Keyword : foreign direct investment (FDI), economic growth, bibliometric research, text mining, VOSViewer, Citespace, scientific knowledge
How to Cite
Cicea, C., & Marinescu, C. (2021). Bibliometric analysis of foreign direct investment and economic growth relationship. A research agenda. Journal of Business Economics and Management, 22(2), 445-466. https://doi.org/10.3846/jbem.2020.14018
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Buitrago, M. L. M., & Leon, J. M. G. (2015). Effects of foreign direct investment on economic growth in Colombia: Empirical evidence 2000–2010. Apuntes del Cenes, 34(59), 63–92. https://doi.org/10.19053/22565779.3536
Carbonell, J. B., & Werner, R. A. (2018). Does foreign direct investment generate economic growth? A new empirical approach applied to Spain. Economic Geography, 94(4), 425–456. https://doi.org/10.1080/00130095.2017.1393312
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Cicea, C., Popa, I., Marinescu, C., & Stefan, S. C. (2019). Determinants of SMEs’ performance: Evidence from European countries. Economic Research-Ekonomska Istrazivanja, 32(1), 1602–1620. https://doi.org/10.1080/1331677X.2019.1636699
Cicea, C., Subic, J., & Turlea, C. (2010). Specific economic efficiency indicators of investments in agriculture. Journal of Central European Agriculture, 11(3), 255–264.
De Andrade, A. G., & Quing, Y. (2015). The role of foreign direct investment on economic growth. In Proceedings of the 12th International Conference on Innovation and Management (pp. 1110–1114).
Dekker, E. (2020). Innovation commons: The origin of economic growth. Journal of Cultural Economics, 44(4), 663–664. https://doi.org/10.1007/s10824-020-09392-2
Diaconeasa, M. C., Popescu, G., & Boboc, D. (2019). Sustainable food consumption in the Web of science abstracts. Economic Computation and Economic Cybernetics Studies and Research, 53(1), 299–307. https://doi.org/10.24818/18423264/53.1.19.19
Dong, Y., & Fan, C. J. (2020). The role of China’s aid and ODI in the economic growth of African countries. Emerging Market Review, 44, 100713. https://doi.org/10.1016/j.ememar.2020.100713
Dylewski, R., & Adamczyk, J. (2012). Economic and ecological indicators for thermal insulating building investments. Energy and Buildings, 54, 88–95. https://doi.org/10.1016/j.enbuild.2012.07.021
Furková, A. (2012). Does foreign direct investment affect economic growth? Evidence from OECD countries. In Proceedings of the International Conference Quantitative Methods in Economics. Multiple criteria decision making XVI (pp. 56–61).
Gunby, P., Jin, Y. H., & Reed, W. R. (2017). Did FDI really cause Chinese economic growth? A MetaAnalysis. World Development, 90, 242–255. https://doi.org/10.1016/j.worlddev.2016.10.001
Hagan, E., & Amoah, A. (2020). Foreign direct investment and economic growth nexus in Africa New evidence from the new financial fragility measure. African Journal of Economic and Management Studies, 11(1), 1–17. https://doi.org/10.1108/AJEMS-05-2019-0180
Hakimi, A., & Hamdi, H. (2016). Trade liberalization, FDI inflows, environmental quality and economic growth: A comparative analysis between Tunisia and Morocco. Renewable and Sustainable Energy Reviews, 58, 1445–1456. https://doi.org/10.1016/j.rser.2015.12.280
Hermes, N., & Lensink, R. (2003). Foreign direct investment, financial development and economic growth. Journal of Development Studies, 40(1), 142–163. https://doi.org/10.1080/00220380412331293707
Hlavacek, P., & Bal Domanska, B. (2016). Impact of foreign direct investment on economic growth in Central and Eastern European countries. Inzinerine Ekonomika-Engineering Economics, 27(3), 294–303. https://doi.org/10.5755/j01.ee.27.3.3914
Hochsteim, A. (2019). The investment multiplier: A comparison of three alternative approaches. International Advances in Economic Research, 25(3), 365–366. https://doi.org/10.1007/s11294-019-09738-3
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