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Causal nexus between sustainable economic growth and economic and institutional determinants: an advanced panel data estimation for BRICS countries

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  • Priya Gupta

Abstract

The objective of this study is to find the causal nexus between sustainable economic growth and its determinants (both economic and institutional) in the context of the five most emerging countries of the world i.e., BRICS for a period of 17 years (2002-2018). In the presence of unit root problem and cross-sectional dependence, Kao (1999) cointegration test followed by Dumitrescu and Hurlin (2012) Granger non-causality test with the bootstrap procedure has been applied to examine the direction of causality. Additionally, FMOLS and DOLS techniques have been executed to examine the impact of all the determinants on sustainable economic growth in the long run. Lastly, the study also discusses the augmented mean group estimates (Eberhardt and Teal, 2010) to analyse the significant determinants impacting sustainable economic growth country wise. The results of the study are consistent with the available empirical literature for all the countries.

Suggested Citation

  • Priya Gupta, 2021. "Causal nexus between sustainable economic growth and economic and institutional determinants: an advanced panel data estimation for BRICS countries," International Journal of Economic Policy in Emerging Economies, Inderscience Enterprises Ltd, vol. 14(5/6), pages 596-625.
    • Handle: RePEc:ids:ijepee:v:14:y:2021:i:5/6:p:596-625
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