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The impact of foreign direct investment on Namibia’s economic growth: A time series investigation

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  • Tafirenyika Sunde

Abstract

The current study investigates the impact of foreign direct investment on the growth of Namibia’s economy from 1990 to 2020 using the ARDL cointegration method. The results reveal that FDI, the interactive variable of FDI and trade openness, and other macroeconomic variables such as domestic investment, government consumption expenditure, human capital, a proxy for economic stability, and return on investment are responsible for Namibia’s economic growth. The article confirms the FDI-led growth and the Bhagwati hypotheses for Namibia as shown by the FDI and the interactive variable of FDI and trade openness, respectively. To reap the full benefits of FDI on economic growth in Namibia, the government must focus on improving physical infrastructure and the quality of human resources. It should also facilitate the development of an entrepreneurship culture, create a stable macroeconomic environment, and improve conditions for productive investments to accelerate economic growth and development.

Suggested Citation

  • Tafirenyika Sunde, 2023. "The impact of foreign direct investment on Namibia’s economic growth: A time series investigation," Cogent Economics & Finance, Taylor & Francis Journals, vol. 11(1), pages 2210857-221, December.
    • Handle: RePEc:taf:oaefxx:v:11:y:2023:i:1:p:2210857
    DOI: 10.1080/23322039.2023.2210857
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    Cited by:

    1. Muhammad Ali Husnain & Ping Guo & Guoqin Pan & Matarr Manjang, 2024. "Unveiling the Interplay of Institutional Quality, Foreign Direct Investment, Inflation and Domestic Investment on Economic Growth: Empirical Evidence for Latin America," International Journal of Economics and Financial Issues, Econjournals, vol. 14(1), pages 85-94, January.
    2. Dr. Hira Aftab & Arifa Saeed & Muhammad Mudassar Naushahi & Hafiz Muhammad Irfan, 2024. "Assessing the Role of FDI Inflows and Money Supply in Driving Manufacturing Success: A Case of Singapore," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 13(2), pages 1034-1039.

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