The Asymmetric Impact of the Non-Linear Relationship between Foreign Direct Investment and the Iraqi Balance of Payments for the Period (2005 - 2023)
DOI:
https://doi.org/10.36325/ghjec.v20i4.17519Keywords:
Foreign Direct Investment, Balance of Payments, Asymmetric Effect, Non-Linear Autoregressive Distributed Lag Model (NARDL)Abstract
The current study aims to measure the asymmetric effect of the non-linear relationship between foreign direct investment as an independent variable, and the Iraqi balance of payments as a dependent variable, based on the (NARDL) that shows the positive and negative effects of the independent variable on the dependent variable. For this purpose, the standard analysis methodology was relied upon to estimate the asymmetric effect and the non-linear relationship between the study variables.
The study reached to prove its hypothesis that the impact of foreign direct investment as (Independent Variable) on the Iraqi balance of payments as (Dependent Variable) is asymmetric, and that the relationship between them is a non-linear relationship. The results of the (NARDL) showed that the positive effects of foreign direct investment on the Iraqi balance of payments are 1.03% in the Short-Run and 0.44% in the Long-Run. As for the negative effects in the short and long term of this type of investment, they have no economic impact on the Iraqi balance of payments.
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