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Journals / Bogazici Journal: Review of Social, Economic and Administrative Studies / 2012 / Cilt: 26 - Sayı: 2

Sermaye Girişi ve Ekonomik Büyüme: Hindistan Örneği

Capital Inflows and Economic Growth: An Indian Perspective

Sharad Nath BHATTACHARYA
Mousumi BHATTACHARYA
Pages
93–114
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

Unidirectional causality is observed from foreign portfolio investment (FPI) and other capital to economic growth, and from economic growth to NRI (Non- Resident Indians) deposit.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The paper investigates the possible cointegration and the direction of causality between various components of capital inflows and economic growth in India.
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Key Findings & Data:A cointegration test is performed in a vector autoregression (VAR) framework followed by an applica- tion of a Vector-Error Correction Model (VECM), Granger Causality test and Impulse response analysis.
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Conclusion & Impact:Unidirectional causality is observed from foreign portfolio investment (FPI) and other capital to economic growth, and from economic growth to NRI (Non- Resident Indians) deposit.
🔬Design:Modeling & Simulation
📍Scope:Comprehensive Sample
⚙️Variables:Domain Parameters

Abstract

The paper investigates the possible cointegration and the direction of causality between various components of capital inflows and economic growth in India. A cointegration test is performed in a vector autoregression (VAR) framework followed by an applica- tion of a Vector-Error Correction Model (VECM), Granger Causality test and Impulse response analysis. Bi-directional causality is observed between foreign direct invest- ment (FDI) and economic growth, external assistance and economic growth, external assistance and other capital. Unidirectional causality is observed from foreign portfolio investment (FPI) and other capital to economic growth, and from economic growth to NRI (Non- Resident Indians) deposit.

Özet

Bu çalışma, Hindistan’daki sermaye girişinin çeşitli bileşenleri ile ülkedeki ekonomik büyüme arasındaki olası eş-bütünleşmeyi ve nedenselliğin yönünü incelemektedir. Bu doğrultuda vektör otoregresyon (VAR) modeli çerçevesinde eş-bütünleşme testi ile Vektör Hata Düzeltme Modeli (VECM), Granger nedensellik testi ve etki-tepki analizi uygulanmıştır. Analizler sonucunda, doğrudan yabancı yatırımlar (FDI) ile ekonomik büyüme; dış yardım ile ekonomik büyüme ve dış yardım ile diğer sermaye girişleri arasında çift yönlü nedensellik ilişkileri bulunmuştur. Bunların dışında, yabancı port- folyo yatırımları (FPI) ve diğer sermaye girişlerinden ekonomik büyümeye ve ekonomik büyümeden yerleşik olmayan yatırımcıların mevduatları büyüklüğüne doğru tek yönlü nedensellik ilişkileri gözlemlenmiştir.

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Cite This Article

BHATTACHARYA, S. N., BHATTACHARYA, M. (2012). Sermaye Girişi ve Ekonomik Büyüme: Hindistan Örneği. Bogazici Journal: Review of Social, Economic and Administrative Studies, Cilt: 26 - Sayı: 2, 93–114. https://ajindex.com/articles/143788

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