Linkage Between Corporate Governance, Foreign Direct Investment and Economic Growth—Empirical Evidence from India

Seema Joshi () and Ruchi Kansil ()
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Seema Joshi: University of Delhi
Ruchi Kansil: An academician and independent researcher

Chapter Chapter 4 in Looking at and Beyond Corporate Governance in India, 2023, pp 89-109 from Springer

Abstract: Abstract Most extant studies focus on the relationship between foreign direct investment (FDI)Foreign direct investment (FDI) and economic growth (EG). However, the unique contribution of the present chapter is that it extends the literature through empirical evaluation of the linkage between the three variables viz. corporate governance (CG), foreign direct investment (FDI) and economic growth (EG) by using the Granger causality technique. The study finds that the relationship between the EG and CG is bidirectionalCorporate governance (CG)bidirectional in nature. Furthermore, EG and CG both cause FDI. From the results, we infer that CG is a crucial variable that deserves special and more attention from policy makers in India to revive the present growth rate of the country and to subsequently put India on a higher growth trajectory. Indeed, good CG norms have the potential to boost EG by attracting more FDI.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-99-3401-0_4

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DOI: 10.1007/978-981-99-3401-0_4

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