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Abstract
This paper examines empirically the role of selected macro-economic variables in determining FDI inflows in the context of BRICS countries. The study employed the Pooled Mean Group (PMG) Auto-Regressive Distributive Lag (ARDL) method for annual dataset over the period 1994 to 2018. The findings of the study indicate that factors like GDP, trade openness, exchange rate, gross capital formation and availability of infrastructure facilities are significant in long run. The country-specific analysis for short run indicates that among BRICS, the FDI determining variables differ in each country. Among BRICS, China is the finest country with the significant and positive effects of examined variables in stimulating FDI inflows. As BRICS economies are facing challenge at the global level, the study suggested the need of adoption of liberal policies to attract more FDI along with growth promotion.
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No potential conflict of interest was reported by the authors.
Additional information
Notes on contributors
Javeria Maryam
Dr. Maryam, has recently got her doctorate in Economics, from Aligarh Muslim University. At present, she is working as Senior Research Fellow (Economics) at Center for WTO Studies, (IIFT), a think-tank of Ministry of Commerce, Government of India. Her areas of specialization are issues related to International trade, regional integration, services and investment policies.
Ashok Mittal
Prof. Mittal is working as professor of Economics (Econometrics), in Aligarh Muslim University. Along with the teaching experience, he has long experience of research in economics, with focus on Macroeconomics, Public Finance and International Economics. His research papers have been published in various national and international journals.