The East Asian miracle: Economic growth and public policy: By the World Bank. (New York: Oxford University Press for the World Bank, 1993. 389 pp. $19.95, paper.)

This paper investigates the simultaneous causal relationship between investments in information and communication technology (ICT) and foreign direct investment (FDI), with reference to its implications on economic growth. For the empirical analysis we use data from 23 major countries with heterogeneous economics development for the period 1976–99. The results of unit roots and Johansen co-integration tests indicate variations in degrees of integration among the sample countries. Our causality test results suggest that there is a causal relationship from ICT to FDI interpreted as the higher level of ICT investment leads to increased inflow of FDI. ICT contributes to economic growth indirectly by attracting more foreign direct investment. In developed countries there already exist a build up ICT capacity which causes inflow of FDI, while in developing countries ICT capacity must be build up to attract FDI. The inflow of FDI causes further increases in ICT investment and capacity.

https://www.econstor.eu/bitstream/10419/52991/1/369108353.pdf

The Causal Relationship Between Information and Communication Technology and Foreign Direct Investment

Dynamic Asian stock market convergence: Evidence from dynamic cointegration analysis among China and ASEAN-5

Co-movement of ASEAN stock markets: New evidence from wavelet and VMD-based copula tests ☆

Lee K. Lim

Papers

Convergence and interdependence between ASEAN-5 stock markets

A dollar or yen currency union in East Asia

Economic growth and technological catching up by Singapore to the USA

A cointegration analysis of price transmission between ADRs and dually listed South Korean stocks