Foreign Direct Investment and Economic Activity in India

Pami Dua and Aneesa I. Rashid
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Aneesa I. Rashid: Oakland University, Rochester

No 62, Working papers from Centre for Development Economics, Delhi School of Economics

Abstract: This paper examines the relationship between foreign direct investment and economic activity in India in the post liberalisation period. Foreign direct investment is measured both by the amount approved as well as the actual flows. Economic activity is measured by the index of industrial production. Granger causality tests and innovation accounting analysis suggest that FDI flows (approvals and actual) respond to the level of industrial production. Actual flows, however, do not Granger-cause industrial output.

Keywords: Liberalization; Foreign Direct Investment; Granger Causality (search for similar items in EconPapers)
JEL-codes: C3 F4 O5 (search for similar items in EconPapers)
Pages: 23 pages
Date: 1999-03
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Journal Article: Foreign Direct Investment and Economic Activity in India (1998)
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