Journal of the Korea Society for Simulation (한국시뮬레이션학회논문지)

The Korea Society for Simulation (한국시뮬레이션학회)
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The Relationship between FDI and Economic Growth: Kazakhstan Case

해외직접 투자와 경제성장의 상호관계에 관한 연구: 카자흐스탄 사례연구

  • Received : 2012.02.14
  • Accepted : 2012.03.22
  • Published : 2012.03.31
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Abstract

In this paper, we study the relationship between FDI(Foreign Direct Investment) and economic growth in Kazakhstan. For this research, we, first, investigate the factors that affect FDI infow to Kazakhstan since its independence and determine the degree of their influence. Second, we study the impact of FDI per capita on GDP per capita. To achieve these goals, an empirical study is conducted with 18 years data from 1992 to 2009 from World Bank Database. Data are analyzed using multiple linear regression, time series analysis and Granger causality test. The results show that the determinant of FDI is GDP and economic freedom index in Kazakhstan. Economic growth is affected by FDI, too. Specially, FDI is positively related to GDP and economic freedom index. FDI per capita's impact on GDP per capita is 30.4 dollars increase in GDP per capita by one dollar increase in FDI per capital inflow. The results provides useful information for policy makers to improve obtaining large amount of investments and facilitate economic growth.

본 논문은 카자흐스탄의 해외직접투자와 경제성장에 관한 연관관계를 연구한다. 이 연구를 위하여 저자들은 먼서 카자흐스탄의 독립이후로 해외직접투자에 영향을 미친 요인들을 조사하고 그들의 영향정도를 파악한다. 다음으로 일인당 GDP대한 일인당 해외직접투자의 영향을 연구한다. 이러한 연구목적을 달성하기 위하여 1992년부터 2009년 사이의 자료를 World Bank Database에서 수집하여 분석하였다. 자료분석은 중회귀분석, 시계열분석 및 Granger Causality Test를 주로 사용하였다. 연구 결과에 의하면 해외직접투자에 영향을 미치는 요소는 GDP 와 economic freedom index로 나타났으며, 경제성장 또한 해외직접 투자에 영향을 받는 것으로 나타났다. 특별히, 해외직접투자는 GDP 및 economic freedom index와 양의 상관관계가 있었다. 일인당 GDP에 대한 일인당 해외직접투자의 영향은 일인당 해외직접투자 1달러 증가시 일인당 GDP 30.4달러가 증가하는 것으로 나타났다. 본 연구의 결과는 정책결정자들로 하여금 해외투자를 유치하고 경제성장을 촉진하는 정책결정에 유용한 정보를 제공할 것이다.

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