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Macroeconomic Implications of Capital Inflows in India

Dr. Md. Izhar Ahmad and Tariq Masood

International Journal of Economics & Business Administration (IJEBA), 2015, vol. III, issue 4, 53-71

Abstract: The study attemts to analyse the behaviour of some macroeconomic variables in response to Total Capital Inflows in India using quarterly data for the period 1994-2007. The paper consist two sections, in first section we have analysed trend behaviour of macroeconomic variables included in the study. Time trend of all variables except NEERX, NEERT and CAB shows instability over the period of study. In second section we have have made an attempt to impirically analyse the behaviour of some macroeconomic variables. With the help of DF, ADF and Schmidt & Phillips test we have concluded that CAB is the only variable which stationary in level form all othe variables are stationary in first difference form. Cointegration test confirms the long run equilibrium relation between REERX & TCI, REET &TCI and between NEERX & TCI. Granger causality test confirms the bidirectional causality between REERX & TCI and between FOREX & TCI and unidirectional causality from TCI to REERT.

Keywords: Capital inflows; cointegration analysis. (search for similar items in EconPapers)
Date: 2015
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