Journal of International Business and Economy

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Which Indian Industry Benefits from FDI? A Panel Co-Integration Approach
S. Mahalakshmi, S. Thiyagarajan, and G. Naresh
Volume 17, Number 1, Spring 2016 (pp. 59 ~ 89)

Economic liberalization or market reforms have become the buzz word in economics all over the world in the recent years. Among various aspects of economic liberalization, foreign capital, particularly inflow of foreign direct investment (FDI) has been viewed as a main engine for economic development in the world economy. Thus this paper attempts to analyze the impact of FDI inflows on the performance of various Indian industries. Using Panel Co-integration tests namely Pedroni Residual Co-integration, Kao Residual Co-integration test and Johanson Fisher panel co-intergration tests, the presence of co-integration between FDI inflows and the performance variables of selected industries have been tested. The results of the paper  reveals that there is a long run relationship between industry performance indicators and FDI only in case of services, telecom, computer software and hardware, real estate and automobile industries and in case of majority of other industries, there is no long run relationship between industry performance indicators and FDI inflow.  

Key Words: foreign direct investment, industry performance indicators, long run relationship, panel co-integration

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Infrastructure Investment and Economic Growth: Evidence from India
Naliniprava Tripathy, Maram Srikanth, and Lagesh Meethale Aravalath
Volume 17, Number 1, Spring 2016 (pp. 91 ~ 111)
An Econometric Investigation of the Determinants of Sustainable Wellbeing of Countries
K. G. Suresh and Pratyush Banerjee
Volume 17, Number 1, Spring 2016 (pp. 39 ~ 57)