Impact of foreign direct investment on socio-economic development in belt and road countries

References

• Ahmad, F., Draz, M. U., & Yang, S.-C. (2018). Causality nexus of exports, FDI and economic growth of the ASEAN5 economies: Evidence from panel data analysis. The Journal of International Trade & Economic Development, 27(6), 685–27. https://doi.org/10.1080/09638199.2018.1426035
   Web of Science ®Google Scholar
• Akinmulegun, S. O. (2012). Foreign direct investment and standard of living in Nigeria.Journal of Applied Finance and Banking. 2(3), 295–309.
   Google Scholar
• Ali, M., Nishat, M., & Anwar, T. (2010). Do foreign inflows benefit Pakistan poor? The Pakistan Development Review, 48(4), 715–738. https://doi.org/10.30541/v48i4IIpp.715-738
   Google Scholar
• Anand, S., & Sen, A. (2000). Human Development and Economic Sustainability. World Development, 28(12), 2029–2049. https://doi.org/10.1016/S0305-750X(00)00071-1
   Web of Science ®Google Scholar
• Arcelus, F. J., Sharma, B., & Srinivasan, G. (2005). Foreign Capital Flows and the Efficiency of the HDI Dimensions. Global Economy Journal, 5(2), 1850036. https://doi.org/10.2202/1524-5861.1058
   Google Scholar
• Azman-Saini, W. N. W., Law, S. H., & Ahmad, A. H. (2010). FDI and economic growth: New evidence on the role of financial markets. Economics Letters, 107(2), 211–213. https://doi.org/10.1016/j.econlet.2010.01.027
   Web of Science ®Google Scholar
• Baltabaev, B. (2014a). Foreign Direct Investment and Total Factor Productivity Growth: New Macro-Evidence. The World Economy, 37(2), 311–334. https://doi.org/10.1111/twec.12115
   Web of Science ®Google Scholar
• Barrel, R., & Nahhas, A. (2018). Economic Integration and Bilateral FDI Stocks: The Impacts of NAFTA and the EU; LSE Research Online Documents on Economics 90372. London School of Economics and Political Science.
   Google Scholar
• Basnet, H. C., & Pradhan, G. (2014a). Does the Inflow of FDI Stock Matter? Evidence from SAARC Countries. Economic Papers: A Journal of Applied Economics and Policy, 33(3), 305–312. https://doi.org/10.1111/1759-3441.12078
   Google Scholar
• Basnet, H. C., & Pradhan, G. (2014b). Does the Inflow of FDI Stock Matter? Evidence from SAARC Countries. Economic Papers: A Journal of Applied Economics and Policy, 33(3), 305–312.
   Google Scholar
• Beugelsdijk, S., Smeets, R., & Zwinkels, R. (2008a). The impact of horizontal and vertical FDI on host’s country economic growth. International Business Review, 17(4), 452–472. https://doi.org/10.1016/j.ibusrev.2008.02.004
   Web of Science ®Google Scholar
• Beugelsdijk, S., Smeets, R., & Zwinkels, R. (2008b). The impact of horizontal and vertical FDI on host’s country economic growth. International Business Review, 17(4), 452–472.
   Web of Science ®Google Scholar
• Bruno, M., Ravallion, M., & Squire, L. (1996a). Equity and growth in developing countries: Old and new perspectives on the policy issues. The World Bank.
   Google Scholar
• Bruno, M., Ravallion, M., & Squire, L. (1996b). Equity and growth in developing countries: Old and new perspectives on the policy issues. The World Bank.
   Google Scholar
• Dong, K., Jiang, H., Sun, R., & Dong, X. (2019a). Driving forces and mitigation potential of global CO2. https://doi.org/10.1016/j.scitotenv.2018.08.326
   Google Scholar
• Dong, K., Jiang, H., Sun, R., & Dong, X. (2019b). through 2030: Evidence from countries with different income levels. The Science of the Total Environment, 649, 335–343. https://doi.org/10.1016/j.scitotenv.2018.08.326
   PubMed Web of Science ®Google Scholar
• Escobar, A. (2000). Beyond the Search for a Paradigm? Post-Development and beyond. Development, 43(4), 11–14. https://doi.org/10.1057/palgrave.development.1110188
   Google Scholar
• Feils, D. J., & Rahman, M. (2011). The Impact of Regional Integration on Insider and Outsider FDI. Management International Review, 51(1), 41–63. https://doi.org/10.1007/s11575-010-0062-z
   Web of Science ®Google Scholar
• Fowowe, B., & Shuaibu, M. (2014). Is foreign direct investment good for the poor? New evidence from African countries. Economic Change and Restructuring, 47(4), 321–339. https://doi.org/10.1007/s10644-014-9152-4
   Google Scholar
• Fowowe, B., & Shuaibu, M. I. (2014). Is foreign direct investment good for the poor? New evidence from African Countries. Economic Change and Restructuring, 47(4), 321–339. https://doi.org/10.1007/s10644-014-9152-4
   Google Scholar
• Ganic, M. (2019). Does Foreign Direct Investment (FDI) contribute to poverty reduction? empirical evidence from central european and western Balkan Countries. Scientific Annals of Economics and Business, 66(1), 15–27. https://doi.org/10.2478/saeb-2019-0003
   Web of Science ®Google Scholar
• Gohou, G., & Soumare, I. (2012). Does foreign direct investment reduce poverty in Africa and are there regional differences. World Development, 40(1), 75–95. https://doi.org/10.1016/j.worlddev.2011.05.014
   Web of Science ®Google Scholar
• Hansen, H., & Rand, J. (2006b). On the Causal Links Between FDI and Growth in Developing Countries. The World Economy, 29(1), 21–41.
   Web of Science ®Google Scholar
• Herzer, D. (2012). How Does Foreign Direct Investment Really Affect Developing Countries’ Growth? Review of International Economics, 20(2), 396–414. https://doi.org/10.1111/j.1467-9396.2012.01029.x
   Web of Science ®Google Scholar
• Herzer, D., Klasen, S., & Nowak-Lehmann D, F. (2008). In search of FDI-led growth in developing countries: The way forward. Economic Modelling, 25(5), 793–810. https://doi.org/10.1016/j.econmod.2007.11.005
   Web of Science ®Google Scholar
• Herzer, D., & Nagel, K. (2015). The long-run and short-run effects of health aid on life expectancy. Applied Economics Letters, 22(17), 1430–1434. https://doi.org/10.1080/13504851.2015.1037431
   Web of Science ®Google Scholar
• Huang, Y. (2016). Understanding China’s Belt & Road Initiative: Motivation, framework and assessment. China Economic Review, 40, 314–321. https://doi.org/10.1016/j.chieco.2016.07.007
   Web of Science ®Google Scholar
• Huang, R. D., & Shiu, C. Y. (2009). Local Effects of Foreign Ownership in an Emerging Financial Market: Evidence from Qualified Foreign Institutional Investors in Taiwan. Financial Management, 38(3), 567–602. https://doi.org/10.1111/j.1755-053X.2009.01048.x
   Web of Science ®Google Scholar
• Huang, C., Teng, K., & Tsai, P. (2010). Inward and outward foreign direct investment and poverty reduction: East Asia versus Latin America. Review of World Economics, 146(4), 763–779. https://doi.org/10.1007/s10290-010-0069-3
   Web of Science ®Google Scholar
• Hung, T. T. Impacts of Foreign Direct Investment on Poverty Reduction in Vietnam; Discussion Paper; National Graduate Institute for Policy Studies: Tokyo, Japan
   Google Scholar
• Hussain, M. N., Li, Z., Sattar, A., & Ilyas, M. (2022a). Dynamic Linkage between Tourism, Corruption and CO2 Emission on Economic Growth in BRI Countries. Leisure Sciences. 1–19. https://doi.org/10.1080/01490400.2022.2126909
   Google Scholar
• Hussain, M. N., Li, Z., Sattar, A., & Ilyas, M. (2022b). “Evaluating the impact of energy and environment on economic growth in BRI countries.” Energy & Environment: 0958305X211073805. Energy & Environment 0958305X2110738 https://doi.org/10.1177/0958305X211073805
   Google Scholar
• Iamsiraroj, S., & Ulubaşoğlu, M. A. (2015). Foreign direct investment and economic growth: A real relationship or wishful thinking? Economic Modelling, 51, 200–213. https://doi.org/10.1016/j.econmod.2015.08.009
   Web of Science ®Google Scholar
• Iwasaki, I., & Tokunaga, M. (2014). Macroeconomic Impacts of FDI in Transition Economies: A Meta-Analysis. World Development, 61(C), 53–69. https://doi.org/10.1016/j.worlddev.2014.03.022
   Google Scholar
• Jude, C., & Levieuge, G. (2017). Growth Effect of Foreign Direct Investment in Developing Economies: The Role of Institutional Quality. The World Economy, 40(4), 715–742. https://doi.org/10.1111/twec.12402
   Web of Science ®Google Scholar
• Kemeny, T. (2010). Does Foreign Direct Investment Drive Technological Upgrading? World Development, 38(11), 1543–1554. https://doi.org/10.1016/j.worlddev.2010.03.001
   Web of Science ®Google Scholar
• Koenker, R. W., & Bassett, G. (1978). Regression Quantiles. Econometrica, 46(1), 33–50. https://doi.org/10.2307/1913643
   Web of Science ®Google Scholar
• Krugman, P. R. (1995). Peddling prosperity: Economic sense and nonsense in the age of diminished expectatons. WW Norton & Company.
   Google Scholar
• Lee, -C.-C., & Chang, C.-P. (2009). FDI, Financial Development, and Economic Growth: International Evidence. Journal of Applied Economics, XII(2), 249–271. https://doi.org/10.1016/S1514-0326(09)60015-5
   Google Scholar
• Levin, A., Lin, C.-F., & James Chu, C.-S. (2002). Unit root tests in panel data: Asymptotic and finite-sample properties. Journal of Econometrics, 108(1), 1–24. https://doi.org/10.1016/S0304-4076(01)00098-7
   Web of Science ®Google Scholar
• Liao, H., Chi, Y., & Zhang, J. (2020). Impact of international development aid on FDI along the Belt and Road. China Economic Review, 61, 101448. https://doi.org/10.1016/j.chieco.2020.101448
   Web of Science ®Google Scholar
• Mansi, E., Hysa, E., Panait, M., & Voica, M. C. (2020). Poverty—A Challenge for Economic Development?Evidences from Western Balkan Countries and the European Union. Sustainability, 12(18). https://doi.org/10.3390/su12187754
   Google Scholar
• Mirza, H., & Giroud, A. (2004). Regionalization, foreign direct investment and poverty reduction: Lessons from Vietnam in ASEAN. Journal of the Asia Pacific Economy, 9(2), 223–248. https://doi.org/10.1080/1354786042000207353
   Google Scholar
• Newell, P., & Frynas, J. G. (2007). Beyond csr? Business, poverty and social justice: An introduction. Third World Quarterly, 28(4), 669–681. https://doi.org/10.1080/01436590701336507
   Web of Science ®Google Scholar
• Olawumi, T. O. (2018). A scientometric review of global research on sustainability and sustainable development. Journal of Cleaner Production, 183, 231–250–2018 v.2183. https://doi.org/10.1016/j.jclepro.2018.02.162
   Web of Science ®Google Scholar
• Omri, A., Nguyen, D. K., & Rault, C. (2014). Causal interactions between CO2 emissions, FDI, and economic growth: Evidence from dynamic simultaneous-equation models. Economic Modelling, 42(C), 382–389. https://doi.org/10.1016/j.econmod.2014.07.026
   Google Scholar
• Pedroni, P. (2004). Panel cointegration: Asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis: New results (65). Cambridge University Press.
   Google Scholar
• Pegkas, P. (2015). The impact of FDI on economic growth in Eurozone countries. The Journal of Economic Asymmetries, 12(2), 124–132. https://doi.org/10.1016/j.jeca.2015.05.001
   Google Scholar
• Perera, L. D. H., & Lee, G. H. Y. (2013). Have economic growth and institutional quality contributed to poverty and inequality reduction in Asia? Journal of Asian Economics, 27, 71–86. https://doi.org/10.1016/j.asieco.2013.06.002
   Google Scholar
• Pesaran, M. H., (2004). General diagnostic tests for cross section dependence in panels ( CESifo Working Paper Series 1229). CESifo.
   Google Scholar
• Phillips, P. C. B., & Hansen, B. E. (1990). Statistical Inference in Instrumental Variables Regression with I(1) Processes. Review of Economic Studies, 57(1), 99–125. https://doi.org/10.2307/2297545
   Web of Science ®Google Scholar
• Pyatt, G. (1987a). Measuring Welfare, Poverty and Inequality. The Economic Journal, 97(386), 459–467.
   Web of Science ®Google Scholar
• Ranis, G., Stewart, F., & Ramirez, A. (2000). Economic Growth and Human Development. World Development, 28(2), 197–219. https://doi.org/10.1016/S0305-750X(99)00131-X
   Web of Science ®Google Scholar
• Rauf, A., Liu, X., Amin, W., Ozturk, I., Rehman, O. U., & Hafeez, M. (2018). Testing EKC hypothesis with energy and sustainable development challenges: A fresh evidence from belt and road initiative economies. Environmental Science and Pollution Research, 25(32), 32066–32080. https://doi.org/10.1007/s11356-018-3052-5
   PubMed Web of Science ®Google Scholar
• Sattar, A., Hussain, M. N., & Ilyas, M. (2022). An Impact Evaluation of Belt and Road Initiative (BRI) on Environmental Degradation. SAGE Open, 12(1), 21582440221078836. https://doi.org/10.1177/21582440221078836
   Web of Science ®Google Scholar
• Sattar, A., Tolassa, T. H., Hussain, M. N., & Ilyas, M. (2022). Environmental Effects of China’s Overseas Direct Investment in South Asia. SAGE Open, 12(1), 21582440221078301. https://doi.org/10.1177/21582440221078301
   Web of Science ®Google Scholar
• Sen, A. (1998). Mortality as an Indicator of Economic Success and Failure. Economic Journal, 108(446), 1–25. https://doi.org/10.1111/1468-0297.00270
   Web of Science ®Google Scholar
• Shamim, A., Azeem, P., & Naqvi, M. A. (2014). Impact of foreign direct investment on poverty reduction in Pakistan. International Journal of Academic Research in Business and Social Sciences, 4(10), 465–490. https://doi.org/10.6007/IJARBSS/v4-i10/1244
   Google Scholar
• Shamim, A., Azeem, P., & Naqvi, S. M. M. A. (2014). Impact of Foreign Direct Investment on Poverty Reduction in Pakistan. International Journal of Academic Research in Business and Social Sciences, 4(10), 465–490. https://doi.org/10.6007/IJARBSS/v4-i10/1244
   Google Scholar
• Sharma, B., & Gani, A. (2007). The Effects of Foreign Direct Investment on Human Development. Global Economy Journal, 4, 9.
   Google Scholar
• Solow, R. (1956a). A Contribution to the Theory of Economic Growth. The Quarterly Journal of Economics, 70(1), 65–94.
   Web of Science ®Google Scholar
• Solow, R. (1956b). A Contribution to the Theory of Economic Growth. The Quarterly Journal of Economics, 70(1), 65–94. https://doi.org/10.2307/1884513
   Web of Science ®Google Scholar
• Soumare, I. (2015). Does Foreign Direct Investment Improve Welfare in North Africa? Africa Development Bank.
   Google Scholar
• Stglitz, J. E. (2006). Making globalizaton work. W.W. Norton and Company.
   Google Scholar
• Streeten, P. (1999). Components of a future development strategy. Finance & Development, 36(4), 30–33.
   Google Scholar
• Sumner, A. (2005). Is foreign direct investment good for the poor? A review and stocktake. Development in Practice, 15(3–4), 269–285. https://doi.org/10.1080/09614520500076183
   Google Scholar
• Sun, M., & He, Q. (2014). Does Foreign Direct Investment Promote Human Capital Accumulation? The Role of Gradual Financial Liberalization. Emerging Markets Finance and Trade, 50(4), 163–175. https://doi.org/10.2753/REE1540-496X500410
   Web of Science ®Google Scholar
• Tambunan, T. The impact of Foreign Direct Investment on poverty reduction: A survey of literature and a temporary finding from Indonesia. In Consultative Meeting on “Foreign Direct Investment and Policy Changes: Areas for New Research”; United Nations Conference Center: Bangkok, Thailand, 2005
   Google Scholar
• Tsai, P., & Huang, C. (2007). Openness, growth and poverty: The case of Taiwan. World Development, 35(11), 1858–1871. https://doi.org/10.1016/j.worlddev.2006.11.013
   Web of Science ®Google Scholar
• Tsai, P.-L., & Huang, C.-H. (2007). Openness, Growth and Poverty: The Case of Taiwan. World Development, 35(11), 1858–1871. https://doi.org/10.1016/j.worlddev.2006.11.013
   Web of Science ®Google Scholar
• Ucal, M. S. (2014). Panel data analysis of foreign direct investment and poverty from the perspective of developing countries. Procedia - Social and Behavioral Sciences, 109, 1101–1105. https://doi.org/10.1016/j.sbspro.2013.12.594
   Google Scholar
• UNCTAD. Investor Nationality: Policy Challenges; The United Nations Conference on Trade and Development: 2016. https://unctad.org/en/PublicationsLibrary/wir2016_en.pdf
   Google Scholar
• UNCTAD. FDI Statistics Database; The United Nations Conference on Trade. and Development: 2012. https://unctad.org/en/Pages/DIAE/World%20Investment%20Report/Regional-Factsheets.aspx
   Google Scholar
• United Nations General Assembly. Transforming Our World: The 2030 Agenda for Sustainable Development. https://sustainabledevelopment.un.org/post2015/transformingourworld
   Google Scholar
• Vo, H. D., Nguyen, V. P., Nguyen, M. H., Vo, T. A., & Nguyen, C. T. (2019). Derivatives Market and Economic Growth Nexus: Policy Implications for Emerging Markets. N. Am. J. EcoN. Financ. Forthcom. https://doi.org/10.1016/j.najef.2018.10.014
   Google Scholar
• Wagner, M., & Hong, S. H. (2015). Cointegrating Polynomial Regressions: Fully Modified OLS Estimation and Inference. Econometric Theory, 32(5), 1289–1315. https://doi.org/10.1017/S0266466615000213
   Web of Science ®Google Scholar
• Wang, Y. (2016). Offensive for defensive: The belt and road initiative and China’s new grand strategy. The Pacific Review, 29(3), 455–463. https://doi.org/10.1080/09512748.2016.1154690
   Web of Science ®Google Scholar
• World Bank. (2016). Development Goals in an Era of Demographic Change.
   Google Scholar
• Zhao, S. (2010). The China Model: Can it replace the Western model of modernization? Journal of Contemporary China, 19(65), 419–436. https://doi.org/10.1080/10670561003666061
   Web of Science ®Google Scholar