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This paper is aimed at examining the fact whether foreign direct investment (FDI) and exports do contribute to economic growth in the thirteen European Union (EU) new member states (namely Bulgaria, Croatia, Cyprus, Czech, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Romania, Slovakia, Slovenia) during the period from 2005 to 2020 or not. Various statistical tests were performed in order to examine the relationship and causality among the three observed series, including unit-root tests, the Kao and Pedroni cointegration tests, and finally the modified causality test. The obtained results are mixed. Although cointegration was established between FDI, exports and growth, the estimation of the longterm coefficients varied to such an extent that only ambiguous conclusions about the effect of FDI and exports on the growth of the real gross domestic product (GDP) could be reached. The research results imply the fact that positive effects of FDI and exports are neither automatic nor equal in all the countries, but the same rather depend on the many factors and conditions that the governments of the selected states should consider when designing policy measures for attracting FDI and promoting exports. [ABSTRACT FROM AUTHOR]

Current studies on the environmental Kuznets curve hypothesis (EKC), which stipulates the association between economic growth and environmental pollution as an inverted U-shaped curve, appears to have had varied findings. Thus, the principal objective of the current research exploration was the examination of a conceivable association between carbon dioxide emissions (CO2) and economic growth in Sierra Leone, for the period, 2002-2015, and the endorsement of the EKC hypothesis relating to the Sierra Leone economy. This was significant because nearly all prior researches on CO2 and economic growth relationship in developing nations were on the EKC hypothesis, rather than the nexus between CO2 emissions and economic growth. The apposite research methodology was quantitative with time series data comprising 56 observations and 6 variables. Utilizing the autoregressive maximum likelihood [AR(2)] model, the results revealed the gross domestic product per capita, foreign direct investment, and renewable energy individually had significant effects on carbon dioxide pollution emissions. However, the AR(2) model showed no support for the EKC hypothesis in Sierra Leone. Moreover, applying the Phillips-Ouliaris cointegration model, the outputs specified a statistically significant long-run relationship between CO2 and, at least, one element of economic growth (Rho = -20.529, Tau = -3.907, p < .05). In addition, the error correction model (errorECM1) employed to examine the short-run departure from the long-run had the anticipated symbol, and was statistically significant (ßerrorECM1 = -.159, SE = .052, t = -3.07, p = .004), indicating a rapid correction progression to long-run equilibrium of about 15.9% annually. Nevertheless, both the long-and-short-run models showed no support for the EKC hypothesis in Sierra Leone, for the examination period. Obviously, the strong and positive effect of foreign direct invest on CO2 in the longrun and short-run models had a policy corollary because the effect seemed to insinuate a surge in foreign direct investment inflows concurrently enhanced CO2 pollution emissions in the country. The findings had significant applied and policy implications because of the suggestive necessity for foreign direct investment and energy policies to aim at less greenhouse effect production methods, to guarantee both environmental imperishability and the realization of sustainable economic growth objectives. [ABSTRACT FROM AUTHOR]

Foreign direct investments are seen as a prerequisite for gaining and maintaining competitiveness. The research objective of this study is to examine the relationship between foreign direct investment (FDI) and economic growth in "new" European Union member countries using various unit root, cointegration, as well as causality tests. The paper employs annual data for FDI and gross domestic product (GDP) from 2002 to 2018 for the 13 most recent members of European Union (EU13): Bulgaria, Croatia, Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Romania, Slovakia and Slovenia. An estimated panel ARDL (PMG) model found evidence that there is a long-run equilibrium between the LogGDP, LogFDI and LogFDIP series, with the rate of adjustment back to equilibrium between 3.27% and 20.67%. In the case of the LogFDI series, long-run coefficients are highly statistically significant in all four models, varying between 0.0828 and 0.3019. These coefficients indicate that a 1% increase in LogFDI increases LogGDP between 0.0828% and 0.3019%. Results of a Dumitrescu-Hurlin panel causality test indicated that a relationship between the GDP growth rate and FDI growth rate is only indirect. Finally, only weak evidence was shown that FDI had a statistically significant impact on GDP in the EU13 countries over the period 2002-2018. This report of findings contributes to the literature concerning FDI and economic growth, namely regarding the current understanding of the relationship between these two factors. [ABSTRACT FROM AUTHOR]