The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Foreign direct investment and growth in India: a cointegration approach
Abstract
The two-way link between foreign direct investment and growth for India is explored using a structural cointegration model with vector error correction mechanism. The existence of two cointegrating vectors between GDP, FDI, the unit labour cost and the share of import duty in tax revenue is found, which captures the long run relationship between FDI and GDP. A parsimonious vector error correction model (VECM) is then estimated to find the short run dynamics of FDI and growth. Our VECM model reveals three important features: (a) GDP in India is not Granger caused by FDI; the causality runs more from GDP to FDI; (b) trade liberalization policy of the Indian government had some positive short run impact on the FDI flow; and (c) FDI tends to lower the unit labour cost suggesting that FDI in India is labour displacing.
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Cites
Co-integration and error correction: representation, estimation and testing
Engle, R. F., & Granger, C. W. J. (1987) · Econometrica · doi:10.2307/1913236 · Cited by 32,007
STATISTICAL ANALYSIS OF COINTEGRATION VECTORS
Johansen, S. (1988) · Journal of Economic Dynamics and Control · doi:10.1016/0165-1889(88)90041-3 · Cited by 17,027
The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950-1988
Summers, R., & Heston, A. (1991) · The Quarterly Journal of Economics · doi:10.2307/2937941 · Cited by 3,429
Cited by
Foreign Direct Investment and Economic Growth: An Increasingly Endogenous Relationship
Li, X., & Liu, X. (2005) · World Development · doi:10.1016/j.worlddev.2004.11.001 · Cited by 1,251
Five decades of research on foreign direct investment by MNEs: An overview and research agenda
Paul, J., & Feliciano-Cestero, M. M. (2021) · Journal of Business Research · doi:10.1016/j.jbusres.2020.04.017 · Cited by 401
Liberalization, FDI, and Growth in Developing Countries: A Panel Cointegration Approach
Basu, P., Chakraborty, C., & Reagle, D. (2003) · Economic Inquiry · doi:10.1093/ei/cbg024 · Cited by 304
Self-citationUdemba, E. N. (2020) · Science of The Total Environment · doi:10.1016/j.scitotenv.2020.139270 · Cited by 180
Metadata
- Authors
- Chakraborty, C., & Basu, P.
- Venue
- Applied Economics
- Publisher
- Informa UK Limited
- Published
- 2002-06
- Volume
- 34
- Issue
- 9
- Pages
- 1061-1073
- ISSN
- 0003-6846 (ISSN-L)
- 1466-4283
- OpenAlex
- W1970687100
- Cited by
- 343
- References
- 3
- FWCI
- 23.02
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
