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direct investment for an EU and EMU member country, Greece, by applying cointegration tests and Granger causality analysis … one and two year lags imply, strongly indicating that foreign capital penetration Granger-causes economic growth in Greece … foreign funds in the future, as evidence imply for the case of Greece …
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Theoretical models of growth reveal that either exogenous or endogenous, technology is the main driving force behind the long-run economic growth. Furthermore, in the endogenous growth framework, diffusion of technology is the basic mechanism of per capita income convergence among countries....
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