[ Les investissements directs étrangers comme facteur de croissance économique au Cameroun : Quelle est la réalité ? ]
Volume 27, Issue 1, August 2019, Pages 262–278
Moïse DJEPANG KOUAMO1 and Mohamadou ADAMOU HADJI2
1 Département d’Economie Publique et Gestion des Ressources Humaines, FSEG-Université de Dschang, BP : 8390, Douala, Cameroon
2 Département de Marketing et Organisation, FSEG-Université de Dschang, BP : 8390, Douala, Cameroon
Original language: French
Copyright © 2019 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
The objective of this article is to question the reality of Foreign Direct Investment (FDI) as a factor of economic growth in Cameroon. The latter taken as an endogenous variable is measured by the annual growth rate of the Gross Domestic Product (GDP); FDI, domestic investment and education are the variables of interest. To these we have associated other control variables that have an impact on economic growth. The study is carried out over the period 1970-2016 and uses the autoregressive distributed lag (ARDL) method for estimating the parameters. The tests of Dickey-Fuller and Dickey-Fuller GLS made it possible to obtain the results on the stationarity of the variables and to carry out the cointegration test. Two regressions were applied: the first on the basic theoretical model and the second for the sensitivity analysis. The results obtained show that the assumption of presence of a cointegration relation is accepted. The error-correction term is negative and significant: this implies the existence of a short and long-term relationship between the variables. In addition, FDI is significantly positive for economic growth in Cameroon. It is therefore important for the managers of the latter to develop attractive measures to best capture these investments and direct them to sectors of activity creating added value.
Author Keywords: Foreign direct investment, economic growth, domestic investment, education, Autoregressive distributed lag model, Cameroon.
Volume 27, Issue 1, August 2019, Pages 262–278
Moïse DJEPANG KOUAMO1 and Mohamadou ADAMOU HADJI2
1 Département d’Economie Publique et Gestion des Ressources Humaines, FSEG-Université de Dschang, BP : 8390, Douala, Cameroon
2 Département de Marketing et Organisation, FSEG-Université de Dschang, BP : 8390, Douala, Cameroon
Original language: French
Copyright © 2019 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
The objective of this article is to question the reality of Foreign Direct Investment (FDI) as a factor of economic growth in Cameroon. The latter taken as an endogenous variable is measured by the annual growth rate of the Gross Domestic Product (GDP); FDI, domestic investment and education are the variables of interest. To these we have associated other control variables that have an impact on economic growth. The study is carried out over the period 1970-2016 and uses the autoregressive distributed lag (ARDL) method for estimating the parameters. The tests of Dickey-Fuller and Dickey-Fuller GLS made it possible to obtain the results on the stationarity of the variables and to carry out the cointegration test. Two regressions were applied: the first on the basic theoretical model and the second for the sensitivity analysis. The results obtained show that the assumption of presence of a cointegration relation is accepted. The error-correction term is negative and significant: this implies the existence of a short and long-term relationship between the variables. In addition, FDI is significantly positive for economic growth in Cameroon. It is therefore important for the managers of the latter to develop attractive measures to best capture these investments and direct them to sectors of activity creating added value.
Author Keywords: Foreign direct investment, economic growth, domestic investment, education, Autoregressive distributed lag model, Cameroon.
Abstract: (french)
L’objectif de cet article est de questionner la réalité des Investissements Directs Etrangers (IDE) comme facteur de croissance économique au Cameroun. Cette dernière prise comme variable endogène est mesurée par le taux de croissance annuel du produit Intérieur Brut; l’IDE, l’investissement domestique et l’éducation sont les variables d’intérêts. A ceux-ci nous avons associé d’autres variables de contrôle qui ont un impact sur la croissance économique. L’étude se déroule sur la période 1970-2016 et utilise la méthode autorégressive à retards échelonnés pour l’estimation des paramètres. Les tests de Dickey-Fuller et Dickey-Fuller GLS ont permis d’obtenir les résultats sur la stationnarité des variables et de procéder au test de cointégration. Deux régressions ont été appliquées : la première sur le modèle théorique de base et la seconde pour l’analyse de la sensitivité. Les résultats obtenus montrent que l’hypothèse de présence d’une relation de cointégration est acceptée. Le terme à correction d’erreurs est négatif et significatif : ceci implique l’existence d’une relation de court et long terme entre les variables. De plus, l’IDE est significativement positif sur la croissance économique au Cameroun. Il est donc important pour les dirigeants de ce dernier, de développer des mesures d’attractivité pour capter au mieux ces investissements et de les diriger vers des secteurs d’activités créatrices de valeurs ajoutées.
Author Keywords: Investissements directs étrangers , croissance économique , investissement domestique , éducation , modèle autorégressif à retards échelonnés , Cameroun.
How to Cite this Article
Moïse DJEPANG KOUAMO and Mohamadou ADAMOU HADJI, “Foreign direct investment as a contributing factor to economic growth in Cameroon : How true is this ?,” International Journal of Innovation and Applied Studies, vol. 27, no. 1, pp. 262–278, August 2019.
