n Journal of Strategic Studies : A Journal of the Southern Bureau of Strategic Studies Trust - Foreign direct investment and economic growth in Zimbabwe : an ARDL bounds test approach

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This study investigates the impact of foreign direct investment (FDI) on economic growth in Zimbabwe for the period 1980-2006, using the ARDL bounds approach to cointegration. This approach is capable of testing the existence of a long-run relationship regardless of whether the underlying variables are I(0) or I(1). The results from the estimated long-run model indicate that FDI does not have an exogenous effect on economic growth, but its effect is manifested through trade openness. The contribution of human capital to economic growth in the long-run was, however, doubted.


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