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Determinants of FDI and its Impact on BRICS Countries

Author

Listed:
  • Nawal Kishor

    (Former Director, School of Management Studies, Indira Gandhi National Open University)

  • Raman Preet Singh

    (School of Business Studies, Vivekananda Institute of Professional Studies)

Abstract

This paper examines the impact of factors determining Foreign Direct Investment (FDI) inflows of BRICS countries using annual dataset from the period 1994-2014. The paper proposes to compare the overall trends and factors impact on the FDI in the BRICS countries. The study employs Panel Data analysis and examines the selected variables like Index of Industrial Production (IIP), Gross Domestic Product (GDP), Foreign Exchange Rate (FOREX), Stock Market Capitalization, Infrastructure Index, and Stock Market Turnover ratio. The empirical results are robust in general for alternative variables determining FDI flows. The policy implication of this study is that increasing interest of economic integration around the globe and interdependence of FDI between member¡¦s countries is an important feature for maintaining sustainability of growth.

Suggested Citation

  • Nawal Kishor & Raman Preet Singh, 2015. "Determinants of FDI and its Impact on BRICS Countries," Transnational Corporations Review, Ottawa United Learning Academy, vol. 7(3), pages 269-278, September.
    • Handle: RePEc:oul:tncr09:v:7:y:2015:i:3:p:269-278
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    Citations

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    Cited by:

    1. 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.
    2. Biyase Mduduzi & Rooderick September, 2018. "Determinants of FDI in BRICS Countries: Panel Data Approach," Studia Universitatis Babeș-Bolyai Oeconomica, Sciendo, vol. 63(2), pages 35-48, August.
    3. Sushil K. Rai & Akhilesh K. Sharma, 2020. "Causal Nexus Between FDI Inflows and Its Determinants in SAARC Countries," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 21(2), pages 193-215, September.
    4. Nusrat Jahan & Sujan Chandra Paul, 2021. "Determinants of FDI inflows to Next 11 countries: A panel data analysis," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 10(6), pages 159-165, September.
    5. Polyxeni Kechagia & Theodore Metaxas, 2022. "FDI and Institutions in BRIC and CIVETS Countries: An Empirical Investigation," Economies, MDPI, vol. 10(4), pages 1-23, March.
    6. Imtiaz Arif & Lubna Khan & Sundus Waqar, 2023. "Does Corruption Sand or Grease the Wheels? A Case of BRICS Countries," Global Business Review, International Management Institute, vol. 24(6), pages 1468-1481, December.
    7. Vissa, Siva Kameswari & Thenmozhi, M., 2022. "What determines mergers and acquisitions in BRICS countries: Liquidity, exchange rate or innovation?," Research in International Business and Finance, Elsevier, vol. 61(C).

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