Pacific Economic Review · 2001 · 82 citations · 0 references
Social SciencesEconomicsInternational BusinessEconomic DevelopmentForeign Direct InvestmentInternational EconomicsComparative AdvantageEconomic IntegrationFdi DeterminantsInternational ExpansionRegional Economic DevelopmentRegional GrowthCross-border Knowledge SpilloversEconomic Integration EffectsEndogenous Growth ModelEndogenous Regional GrowthKnowledge Spillover EffectsRegional Spillover EffectsRegional SpilloversTechnological Knowledge
This empirical study investigates whether FDI caused spillover effects which led to the economic growth of the ASEAN‐5 economies (1970–96), and, if that is so, whether the ASEAN Preferential Trade Agreement (APTA) had a significant effect in attracting FDI to the region. Its findings are that FDI has stimulated economic growth most effectively through human factors, and knowledge/technological learning‐by‐doing effects; and that the formation of the APTA had a lagged influence on FDI inflows to the advantage of the more‐developed member countries, and disadvantage of the less‐developed member countries.