The contribution of foreign direct investment to economic growth is perhaps one of the most studied topics in academic research over the past five decades. However, few studies have examined both the short-term and long-term effects of this impact on developing and emerging markets, particularly during times of economic uncertainty including the financial crisis. This paper examines the relevant quantitative evidence on the impact of foreign direct investment (FDI) and outward foreign direct investment (OFDI) on economic growth by the regression method and the Johansen cointegration test.