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Does Economic Freedom Influence the FDI–Growth Nexus in ASEAN Economies?

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  • Md. Gyasuddin Ansari
  • Rudra Sensarma

Abstract

Authors examine the role of economic freedom in explaining the spillover of foreign direct investment (FDI) on economic growth in Association of Southeast Asian Nations (ASEAN) countries. Authors extend the analysis to the roles of human capital and financial institutions in the FDI–growth nexus. Authors employ two-stage least squares regression to analyse a panel data set of ASEAN countries over 26 years. They find that the positive relationship between FDI and economic growth can be explained by higher economic freedom along with improvements in the quality of human capital and financial institutions. They also provide the policy implications of our findings. JEL Classification: F20; F21; O40

Suggested Citation

  • Md. Gyasuddin Ansari & Rudra Sensarma, 2022. "Does Economic Freedom Influence the FDI–Growth Nexus in ASEAN Economies?," Journal of Asian Economic Integration, , vol. 4(2), pages 144-159, September.
    • Handle: RePEc:sae:jfasei:v:4:y:2022:i:2:p:144-159
    DOI: 10.1177/26316846221112228
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    More about this item

    Keywords

    Foreign direct investment; economic freedom; economic growth; ASEAN;
    All these keywords.

    JEL classification:

    • F20 - International Economics - - International Factor Movements and International Business - - - General
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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