计量经济分析 = Econometric analysis

This study examines the role of industrialization in the energy-growth-FDI nexus for the case of South Africa using data over the period 1970 to 2018. The empirical exercise was conducted using Pesaran Autoregressive Distributed Lag (ARDL) bounds testing approach. To accomplish our study objective, we analyze stationarity properties of the series using the unit root test after which we applied Bayer-Hanck (B-H) combined technique to cointegration to assess whether a long-run relationship exists among the series. Empirical results show that a 1% change in FDI account for 0.002% and 0.013% increase in economic expansion in the short- and long- run respectively. Also, a 1% increase in coal consumption influence GDP negatively by 0.083% and 0.207% in the short and long run respectively. Furthermore, a 1% increase in total natural resource rent positively affects GDP by 0.02% and 0.05% respectively in the short and long run. Industrialization, on the other hand, demonstrates a positive and significant impact on the economic growth process both in the short and long run. Industrialization contributes 0.506% and 1.274% to economic expansion both in the short and long run respectively. The causality tests suggest that a one-way causal link running from FDI to industrialization and from industrialization to coal consumption exists. Finally, FDI inflow drives total natural resource rents in South Africa. This study also gives reliable growth and energy policy proposals to policymakers applicable to countries around the globe.

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Modeling the nexus between coal consumption, FDI inflow and economic expansion: does industrialization matter in South Africa?

Foreign Portfolio Investment Flows to India: Determinants and Analysis

In this paper we present a discussion on current energy and power situation of the country, and examine the causal relationship between FDI in the energy and power sector, and economic growth in Bangladesh for the period 1972–2010. Related trend reveals a considerable gap between energy production and energy use during this period. Moreover, inflow trend of FDI was also fluctuating over the studied period. We also find that there are robust positive and unidirectional short-run causal relationships running from FDI to energy use and from energy use to GDP growth. Empirical results also confirm a causal relationship for the energy use equation in the long run. Considering the resource and technology gap and requirements for the development of the energy and power sector, FDI should be encouraged to this sector that would be imperative to the targeted GDP growth.

Foreign direct investment in the energy and power sector in Bangladesh: Implications for economic growth

China’s Promoting Energy-Efficient Products for the Benefit of the People Program in 2012: Results and analysis of the consumer impact study

Purpose – This paper aims to investigate the causal nexus between foreign direct investment (FDI) and economic growth in SAARC countries.Design/methodology/approach – Johansen's cointegration test was employed to examine the long‐run relationship between foreign direct investment and economic growth in SAARC countries. Besides, the vector error correction model (VECM) was employed to examine the causal nexus between foreign direct investment and economic growth in SAARC countries for the years 1970‐2007. Finally, the impulse response function (IRF) has been employed to investigate the time paths of log of foreign direct investment (LFDI) in response to one‐unit shock to the log of gross domestic product (LGDP) and vice versa.Findings – The Johansen cointegration result establishes a long‐run relationship between foreign direct investment and gross domestic product (GDP) for the sample of SAARC nations, namely, Bangladesh, India, Maldives, Nepal, Pakistan and Sri Lanka. The empirical results of the vector ...

An empirical investigation of foreign direct investment and economic growth in SAARC nations

The purpose of the study is to explore the determinants of foreign institutional investments in India through the Autoregressive Distributed Lag (ARDL) bounds testing approach. Using quarterly time series data, the empirical analysis was carried out for the period from January 2004 to December 2011. Our study result shows that exchange rate has significant negative impact on FII inflows both in the short-run and long-run, implying that depreciation of currency adversely affects the FII flows into India. Moreover, the Indian equity market returns has negative short-run and positive long-run effects on FII inflows to India. This confirms the evidence of positive and negative feedback trading hypothesis in the short-run and long-run, respectively. The US equity market returns has positive and significant influence on FII flows in the long-run but positive and insignificant influence on FII flows in the short-run. The risks associated with US equity market encourage foreign institutional investors to invest more in Indian equity markets. Furthermore, domestic inflation exerts negative and positive significant influence on FII flows in the long-run and short-run, respectively. It can be concluded that FII inflows to India are essentially determined by exchange rate, domestic inflation, domestic equity market returns, returns and risk associated with US equity market.

Determinants of Foreign Institutional Investment in India: An Empirical Analysis

Johansen Cointegration technique followed by the Vector Error Correction Model (VECM) and standard Granger Causality test were employed to investigate the causal nexus between Foreign Direct Investment (FDI) and economic growth in Association of Southeast Asian Nations (ASEAN) economies. The Johansen Cointegration result establishes a long run relationship between FDI and Gross Domestic Product (GDP) for the five ASEAN economies, namely, Indonesia, Malaysia, Philippines, Singapore and Vietnam. The empirical results of VECM exhibits a long run causality running from GDP to FDI for Indonesia, Philippines and Singapore. For Malaysia and Vietnam, the results reveal long run bidirectional causal link between GDP and FDI. Besides, the evidence from standard Granger Causality test for rest of the ASEAN economies shows that there was no causality between FDI and GDP for Brunei Darussalam and Lao People’s Democratic Republic. For Myanmar and Thailand, the test results show that there is a one-way short run Granger causal link from FDI to GDP and GDP to FDI, respectively.

FDI and Economic Growth in the ASEAN Countries: Evidence from Cointegration Approach and Causality Test

This paper empirically investigates the impact of exchange rate volatility on the real exports in India using the ARDL bounds testing procedure proposed by Pesaran et al. (2001). Using annual time series data, the empirical analyses has been carried out for the period 1970 to 2011. The study results confirm that real exports are cointegrated with exchange rate volatility, real exchange rate, gross domestic product and foreign economic activity. Our findings indicate that the exchange rate volatility has significant negative impact on real exports both in the short-run and long-run, implying that higher exchange rate fluctuation tends to reduce real exports in India. Besides, the real exchange rate has negative short-run and positive long-run effects on real exports. The empirical results reveal that GDP has a positive and significant impact on India’s real exports in the long-run, but the impact turns out to be insignificant in the short-run. In addition, the foreign economic activity exerts significant negative and positive impact on real exports in the short-run and long-run, respectively.

Exchange Rate Volatility and Export Growth in India: An ARDL Bounds Testing Approach

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M. Kalaivani

Papers

An empirical investigation of foreign direct investment and economic growth in SAARC nations

Determinants of Foreign Institutional Investment in India: An Empirical Analysis

FDI and Economic Growth in the ASEAN Countries: Evidence from Cointegration Approach and Causality Test

Exchange Rate Volatility and Export Growth in India: An ARDL Bounds Testing Approach

Determinants of Foreign Institutional Investment in India: An Empirical Analysis