This study investigates the relationship between Trade, Foreign Direct Investment (FDI) and economic growth in Greece over the period 1960-2002. The cointegration analysis suggested that there is a long-run equilibrium relationship. The results of the Granger causality test showed that there is a causal relationship between the examined variables. Economic growth, trade and FDI appear to be mutually reinforcing under the open-door policy.
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Dritsaki et al. (2004) studied this question.
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