Does Economic Freedom Influence the FDI - Growth Nexus in BRICSASEAN Economies?

Md Gyasuddin Ansari () and Rudra Sensarma
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Md Gyasuddin Ansari: Indian Institute of Management Kozhikode

No 530, Working papers from Indian Institute of Management Kozhikode

Abstract: This paper examines the relationship between foreign direct investment, economic freedom and economic growth in BRICS-ASEAN countries. Further, we investigate the role of economic freedom in conjunction with productive capacities, human capital and financial institutions in spillover of foreign direct investment to economic growth. We apply Two Stage Least Square method for this analysis. We find a positive role of economic freedom along with productive capacities, human capital and financial institutions on transmission of foreign direct investment to economic growth. This demonstrates that productive capacities, human capital and financial institutions, apart from economic freedom, are instrumental in spillover of foreign direct investment to economic growth in the economies of BRICS-ASEAN. We provide the policy implications of our study.

Pages: 21 pages
Date: 2022-03
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