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Author: Durairaj Kumarasamy Publisher: ISBN: Category : Languages : en Pages : 17
Book Description
The present article attempts to identify the causal nexus among real exchange rate (RER), its volatility and foreign direct investment (FDI) inflows in India using quarterly data from 1990:II to 2008:I. Generalized Auto Regressive Conditional Heteroscedasticity (GARCH) model is employed to obtain conditional variance of RER data series. Besides, Johansen's cointegration technique followed by the vector error correction model (VECM) is employed to examine the objective. The analysis reveals a long run relationship among FDI, RER and the GARCH measure of exchange rate volatility, and also a short run causality flow from RER and its volatility to FDI. However, we find no discernible link from FDI to RER and its volatility in the short run. Thus, the study concludes that depreciation in exchange rate level leads to increase in inflow of FDI, and an increase in FDI is due to decreases in exchange rate uncertainty in the short run.
Author: Durairaj Kumarasamy Publisher: ISBN: Category : Languages : en Pages : 17
Book Description
The present article attempts to identify the causal nexus among real exchange rate (RER), its volatility and foreign direct investment (FDI) inflows in India using quarterly data from 1990:II to 2008:I. Generalized Auto Regressive Conditional Heteroscedasticity (GARCH) model is employed to obtain conditional variance of RER data series. Besides, Johansen's cointegration technique followed by the vector error correction model (VECM) is employed to examine the objective. The analysis reveals a long run relationship among FDI, RER and the GARCH measure of exchange rate volatility, and also a short run causality flow from RER and its volatility to FDI. However, we find no discernible link from FDI to RER and its volatility in the short run. Thus, the study concludes that depreciation in exchange rate level leads to increase in inflow of FDI, and an increase in FDI is due to decreases in exchange rate uncertainty in the short run.
Author: Durairaj Kumarasamy Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
This paper investigates the impact of exchange rate levels and its volatility on Foreign Direct Investment in India using quarterly data for the period 1996:2 to 2010:1. The study employed autoregressive distributed lag (ARDL) bounds testing approach to examine the long-run and short-run relationship. Both conditional variance and other measures of volatility have been used to generate exchange rate volatility. The study also considered factors that motivate the foreign investors' decision to invest in India. The results indicated that exchange rate volatility deters FDI in India, suggesting that flexible but stable exchange rate system may be needed to successfully attract FDI inflows in India.
Author: Chanchal Chopra Publisher: ISBN: Category : Business & Economics Languages : en Pages : 448
Book Description
In a world of intensifying competition and technological change, the complementary and catalytic role of foreign capital is very valuable. This book presents an emerging scenario in India with regard to different types foreign capital inflows. It examines the trends and patterns of foreign investment in India in the pre and post liberalization periods vis-a-vis the major policy changes during these periods, The book sheds light on significance of foreign investment, emerging markets. It aptly describes how foreign direct investment helps in the economic development of host country by increasing financial resources, providing technology and enhancing professional skills and deliberates on theoretical underpinnings. The statistical profile and analysis provided in the study is revealing. Chapter on Non-resident India's investment in India is thought provoking and provides the policy variables to attract NRI investments. The book also discusses the role of Foreign Institutional Investors (Fll) in the stock market development and analyses how Euro issues phenomenon has emerged after liberalisation. Tax-related issues in respect of foreign investment are discussed to show how the tax incentives to FDI make the investment competitive against domestic companies. Models of foreign direct investment and portfolio investment are given and the determinants of two types of investments are discussed. Since the Vv7O regime is to be fully operational in coming two years, the book analyses the flow of investment in the context of TRIMS, GATS, TRIPs and highlights the implications of proposed agreements on FDI. The book also suggests a strategy to be followed while analyzing the impact of emerging WTO regime on the inflow of foreign investment. This book deals with all aspects of foreign investments and would be of use to all interested in the study of Foreign Investment in India and to policy-makers and students of management, commerce and economics. In a world of intensifying competition and technological change, the complementary and catalytic role of foreign capital is very valuable. This book presents an emerging scenario in India with regard to different types foreign capital inflows. It examines the trends and patterns of foreign investment in India in the pre and post liberalization periods vis-a-vis the major policy changes during these periods, The book sheds light on significance of foreign investment, emerging markets. It aptly describes how foreign direct investment helps in the economic development of host country by increasing financial resources, providing technology and enhancing professional skills and deliberates on theoretical underpinnings. The statistical profile and analysis provided in the study is revealing. Chapter on Non-resident India's investment in India is thought provoking and provides the policy variables to attract NRI investments. The book also discusses the role of Foreign Institutional Investors (Fll) in the stock market development and analyses how Euro issues phenomenon has emerged after liberalisation. Tax-related issues in respect of foreign investment are discussed to show how the tax incentives to FDI make the investment competitive against domestic companies. Models of foreign direct investment and portfolio investment are given and the determinants of two types of investments are discussed. Since the Vv7O regime is to be fully operational in coming two years, the book analyses the flow of investment in the context of TRIMS, GATS, TRIPs and highlights the implications of proposed agreements on FDI. The book also suggests a strategy to be followed while analyzing the impact of emerging WTO regime on the inflow of foreign investment. This book deals with all aspects of foreign investments and would be of use to all interested in the study of Foreign Investment in India and to policy-makers and students of management, commerce and economics.
Author: Khee Giap Tan Publisher: World Scientific ISBN: 9813272325 Category : Business & Economics Languages : en Pages : 221
Book Description
This book entitled 2017 Annual Competitiveness Analysis and Impact of Exchange Rates on Foreign Direct Investment Inflows to Sub-National Economies of India is the fifth edition of the Asia Competitiveness Institute's flagship analysis of competitiveness covering the sub-national economies of India. The research in this study comes from an effort to recognise the heterogeneity of India and how the variations in the dynamics of competitiveness pan out at the sub-national level.Based on rigorous methodological foundations, the competitiveness study possesses several distinguishing features. First, the competitiveness index is constructed from a holistic set of 75 indicators spanning four different dimensions encompassing (1) macroeconomic stability, (2) government and institutional setting, (3) financial, business and manpower conditions, and (4) quality of life and infrastructure development, which carry equal weights. Second, the Shapley Values approach is used to construct alternative weights for the competitiveness index. Such approach measures the marginal contribution of a particular indicator used in the analysis and is embedded in solid mathematical and theoretical foundations. This serves as a robustness check to the Equal Weights approach. Third, the analysis includes a What-if competitiveness simulation exercise to identify the specific policy areas that each sub-national economy must focus on to improve its rankings.Intrinsically tied to the notion of competitiveness is the issue of maintaining a competitive exchange rate. Using real effective exchange rates as a proxy for competitiveness, this book also undertakes an empirical investigation of the impact of real exchange rates on foreign direct investment inflows at the sub-national level in India.This edition is recommended for academics, undergraduate and graduate students, and professionals interested in India's economic development.
Author: Ramkishen S Rajan Publisher: Routledge ISBN: 1136590927 Category : Business & Economics Languages : en Pages : 306
Book Description
With the rapid growth of China and India and the resurgence of Southeast Asia post-1997–8, emerging Asia has once again become one of the most dynamic regions in the world. This dynamism has in turn been fuelled largely by a carefully calibrated embracement of economic openness to international trade, investments and capital flows. While much has been written about international trade, there has been somewhat less work on the issue of capital flows, macroeconomic management and foreign direct investment (FDI) to and from the region, a gap that this book attempts to fill. The book is divided into two parts. The first part deals with selected issues pertaining to macroeconomic management in small and open economies, with particular focus on exchange rates. The second part of the book deals with the trends and determinants of FDI in emerging Asia, its importance as a source of finance, its impact on growth and development, and the nexus between FDI and foreign portfolio flows (FPI). Overall, the chapters in this book tackle important policy issues of contemporary relevance, but are informed by analytical frameworks, data and empirics. While each of the topic areas chosen in individual chapters is intentionally narrow, the book as a whole covers a number of areas and countries/regions within Asia (i.e. East, Southeast and South Asia). While the chapters have been written in a manner that can stand up to academic scrutiny, they are also meant to be accessible to policy makers, researchers and others who might be interested in FDI and related issues in Asia.
Author: Pravakar Sahoo Publisher: Springer Science & Business Media ISBN: 8132215362 Category : Business & Economics Languages : en Pages : 378
Book Description
During the 1990s, the governments of South Asian countries acted as ‘facilitators’ to attract FDI. As a result, the inflow of FDI increased. However, to become an attractive FDI destination as China, Singapore, or Brazil, South Asia has to improve the local conditions of doing business. This book, based on research that blends theory, empirical evidence, and policy, asks and attempts to answer a few core questions relevant to FDI policy in South Asian countries: Which major reforms have succeeded? What are the factors that influence FDI inflows? What has been the impact of FDI on macroeconomic performance? Which policy priorities/reforms needed to boost FDI are pending? These questions and answers should interest policy makers, academics, and all those interested in FDI in the South Asian region and in India, Pakistan, Bangladesh, Sri Lanka and Pakistan.
Author: Ila Patnaik Publisher: International Monetary Fund ISBN: 1455211850 Category : Business & Economics Languages : en Pages : 26
Book Description
India embarked on reintegration with the world economy in the early 1990s. At first, a certain limited opening took place emphasising equity flows by certain kinds of foreign investors. This opening has had myriad interesting implications in terms of both microeconomics and macroeconomics. A dynamic process of change in the economy and in economic policy then came about, with a co-evolution between the system of capital controls, macroeconomic policy, and the internationalisation of firms including the emergence of Indian multinationals.Through this process, de facto openness has risen sharply. De facto openness has implied a loss of monetary policy autonomy when exchange rate pegging was attempted. The exchange rate regime has evolved towards greater flexibility.
Author: K. Sauvant Publisher: Springer ISBN: 023011475X Category : Business & Economics Languages : en Pages : 302
Book Description
The contributors explore the rapid growth of Indian multinationals and provide valuable insights into the patterns and trends of their outward investments and the factors that led to their emergence in the global FDI market. They also look at their continuously evolving strategies in the global economy.
Author: Durairaj Kumarasamy
Author: Durairaj Kumarasamy
Author: Durairaj Kumarasamy
Author: Chanchal Chopra
Author: Khee Giap Tan
Author: 
Author: Ramkishen S Rajan
Author: Pravakar Sahoo
Author: Purbaya Yudhi Sadewa
Author: Ila Patnaik
Author: K. Sauvant