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1、the model.The paper used time series data covering the period from 1980 to 2009 as well as time series methods such as Stationarity test, Cointegration test, Vector Error Correction Model (VECM), stability test, Granger
2、causality test and regression for the econometric analyses.The results showed that there exist long term relationships between the foreign direct investments, the human capital, the current account and the economic growt
3、h; and a short-run associationship between the real exchange rate, the inflation, the human capital and the economic growth indicated by the vector error correction model.Taking into account the sense of causality, Grang
4、er test showed that real exchange rate influences economic growth but not the contrary.Subsequently, the regression's output figures out that, except inflation, all the variables have explanatory power on economic growth
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