IDEAS home Printed from https://ideas.repec.org/a/ibn/ijefaa/v11y2019i2p56-67.html
   My bibliography  Save this article

The Economic Determinants of Post-Soviet Belarus: The Role of FDI in Economic Development

Author

Listed:
  • Hong Zhong Fan
  • Tatsiana Dziavochka
  • Mathious Willie
  • Mirza Nouman Ali

Abstract

Adding to the vast literature readings, this study investigates the role of major determinants of economic development in Belarus from the period of 1992-2017. We employed the simple OLS regression and ARDL Bound testing approach to determine the economic indicators of Belarus. Our findings exhibit that imports and exports have been remained as major determinant whereas, FDI has not been a significant part since last three decades. Belonging to the pool of developing world, FDI has not been a determinant in Belarus while its main emphasis is on exports and imports. This study also implicates the Belarus’ initiative with other developing countries to increase FDI and reduce State-owned Influence. While ensuring the differences with other economies, government must attract the economically suitable FDI avoiding any possible negative effects of FDI on GDP.

Suggested Citation

  • Hong Zhong Fan & Tatsiana Dziavochka & Mathious Willie & Mirza Nouman Ali, 2019. "The Economic Determinants of Post-Soviet Belarus: The Role of FDI in Economic Development," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 11(2), pages 56-67, February.
    • Handle: RePEc:ibn:ijefaa:v:11:y:2019:i:2:p:56-67
    as

    Download full text from publisher

    File URL: http://www.ccsenet.org/journal/index.php/ijef/article/download/0/0/38144/38636
    Download Restriction: no
    File URL: http://www.ccsenet.org/journal/index.php/ijef/article/view/0/38144
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. A.M. Tamilselvan & S. Manikandan, 2015. "A Study on Impact of Foreign Direct Investment on Gross Domestic Production in India," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 5(10), pages 224-232, October.
    2. Mohammed Ershad Hussain & Mahfuzul Haque, 2016. "Foreign Direct Investment, Trade, and Economic Growth: An Empirical Analysis of Bangladesh," Economies, MDPI, vol. 4(2), pages 1-14, April.
    3. Myriam Blin & Bazoumana Ouattara, 2009. "Foreign Direct Investment and Economic Growth in Mauritius: Evidence from Bounds Test Cointegration," Economie Internationale, CEPII research center, issue 117, pages 47-61.
    4. Tamilselvan, M. & Manikandan, S., 2015. "A Study on Impact of Foreign Direct Investment on Gross Domestic Production in India," MPRA Paper 73349, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bakari, Sayef, 2017. "Why is South Africa Still a Developing Country?," MPRA Paper 80763, University Library of Munich, Germany.
    2. Sakib, Mohammad Nazmus & pande, Saikat & kumar, Rimon & Arif, Dr. Kazi mostafa, 2021. "Chinese Foreign Direct Investment and Economic Growth of Bangladesh: A VECM Analysis," MPRA Paper 109654, University Library of Munich, Germany.
    3. Veundjua Muruko-Jaezuruka & Prashant Gupta, 2020. "Assessing Foreign Direct Investment Long-Run Contribution to Financial Development: Evidence from Namibia," Economics Bulletin, AccessEcon, vol. 40(4), pages 3111-3123.
    4. Niaz Morshed & Mohammad Razib Hossain, 2022. "Causality analysis of the determinants of FDI in Bangladesh: fresh evidence from VAR, VECM and Granger causality approach," SN Business & Economics, Springer, vol. 2(7), pages 1-28, July.
    5. N. R. Bhanumurthy & Lokendra Kumawat, 2020. "Financial Globalization and Economic Growth in South Asia," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 21(1), pages 31-57, March.
    6. Islam, Mohammad Mohidul, 2022. "The dynamics of Foreign Direct Investment (FDI) inflows in developing economies: Evidence from Bangladesh," OSF Preprints tehuf, Center for Open Science.
    7. Bibhuti Sarker & Farid Khan, 2020. "Nexus between foreign direct investment and economic growth in Bangladesh: an augmented autoregressive distributed lag bounds testing approach," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 6(1), pages 1-18, December.
    8. Gameli Adika, 2022. "Sustaining Economic Growth in COMESA: Challenges and Prospects," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(1), pages 301-311, January.
    9. Sheereen Fauzel & Boopen Seetanah & R.V. Sannassee, 2017. "Analysing the impact of tourism foreign direct investment on economic growth," Tourism Economics, , vol. 23(5), pages 1042-1055, August.
    10. Muhammad Salah Uddin & Zobayer Ahmed, 2021. "Privatization policy, entrepreneurship, and economic development: the dynamics in Bangladesh economy," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 11(1), pages 329-336, December.
    11. Shan-Li Wang & Feng-Wen Chen & Bing Liao & Cuiju Zhang, 2020. "Foreign Trade, FDI and the Upgrading of Regional Industrial Structure in China: Based on Spatial Econometric Model," Sustainability, MDPI, vol. 12(3), pages 1-16, January.
    12. Nadia Ben Yedder & Malek El Weriemmi & Sayef Bakari, 2023. "The Impact of Domestic Investment and Trade on Economic Growth in North Africa Countries: New Evidence from Panel CS-ARDL Model," EuroEconomica, Danubius University of Galati, issue 2(42), pages 22-41, November.
    13. Mohammad Mushfiqul Haque MUKIT & Assim Ibrahim ABDEL-RAZZAQ & Mohammad Safiqul ISLAM, 2020. "Relationship between Unemployment and Macroeconomics Aggregates: Evidence from Bangladesh," Journal of Economics and Financial Analysis, Tripal Publishing House, vol. 4(2), pages 45-61.
    14. Boateng, Elliot & Agbola, Frank W. & Mahmood, Amir, 2021. "Foreign aid volatility and economic growth in Sub-Saharan Africa: Does institutional quality matter?," Economic Modelling, Elsevier, vol. 96(C), pages 111-127.
    15. Yixing Yang & Md. Qamruzzaman & Mohd Ziaur Rehman & Salma Karim, 2021. "Do Tourism and Institutional Quality Asymmetrically Effects on FDI Sustainability in BIMSTEC Countries: An Application of ARDL, CS-ARDL, NARDL, and Asymmetric Causality Test," Sustainability, MDPI, vol. 13(17), pages 1-29, September.
    16. Milin Ioana Anda & Bușan Gabriela & Ecobici Nicolae & Abdul Rehman, 2023. "Economic Growth Drivers in Romania: Evidence from a NARDL Analysis," Sustainability, MDPI, vol. 15(7), pages 1-19, March.
    17. Amir Fejzić, 2017. "Sectorial Composition Of Foreign Direct Investment And Growth: The Case Of The See-5," Ekonomske ideje i praksa, Faculty of Economics and Business, University of Belgrade, issue 24, pages 87-116, March.
    18. Md Kamrul Hasan & Nurun Nahar Nishi, 2019. "An Analysis of the Impact of GDP, Trade openness, Inflation rate and Market size in Attracting Inward FDI in Bangladesh Based on Empirical Analysis," International Journal of Science and Business, IJSAB International, vol. 3(3), pages 278-291.
    19. James Temitope Dada & Ezekiel Olamide Abanikanda, 2022. "The moderating effect of institutions in foreign direct investment led growth hypothesis in Nigeria," Economic Change and Restructuring, Springer, vol. 55(2), pages 903-929, May.
    20. Thomas Galih Pramudita & Setyabudi Indartono & Maimun Sholeh, 2019. "The Antecedent of Domestic Investment in Indonesia: Auto Regressive Distributed Lag Approach," International Journal of Economics and Financial Issues, Econjournals, vol. 9(2), pages 138-144.

    More about this item

    Keywords

    foreign direct investment; gross domestic product; bounds testing; BRI; cointegration;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ibn:ijefaa:v:11:y:2019:i:2:p:56-67. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Canadian Center of Science and Education (email available below). General contact details of provider: https://edirc.repec.org/data/cepflch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.