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Bureaucratic Quality and FDI Inflows Nexus: A South Asian Perspective

Author

Listed:
  • Adeel Ahmad DAR

    (Department of Economics, GCU, Lahore, Pakistan.)

  • Taj MUHAMMAD

    (Department of Economics, GCU, Lahore, Pakistan.)

  • M. Wasif SIDDIQI

    (Department of Economics, GCU, Lahore, Pakistan.)

Abstract
The traditional factors are important for decision making process of multinationals to invest in host countries, but in developing countries transaction costs result in coordination failures. In this regard, an efficient bureaucracy is pivotal for reducing transaction costs and, thus, for promoting human interactions. For this purpose, this study has examined the relationship between bureaucratic quality and FDI inflows for selected South Asian countries (Pakistan, India, Sri Lanka and Bangladesh) during the time period 1995-2015 by controlling domestic investment, economic development, human capital, exchange rate, financial development and inflation. Using Driscoll and Kraay robust standard errors approach, the results are consistent with the economic theory of bureaucracy and FDI inflows. The study concludes that bureaucratic quality plays an important role in attracting FDI inflows to South Asia. On the basis of these estimates, this study recommends strong and efficient bureaucratic structure that imposes strong enforcement mechanism (without interrupting government policies) which may overcome the domestic coordination failures and promote new economic activities which attract multinational companies to South Asia.

Suggested Citation

  • Adeel Ahmad DAR & Taj MUHAMMAD & M. Wasif SIDDIQI, 2020. "Bureaucratic Quality and FDI Inflows Nexus: A South Asian Perspective," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 149-168, September.
  • Handle: RePEc:rjr:romjef:v::y:2020:i:3:p:149-168
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    More about this item

    Keywords

    bureaucratic quality; foreign direct investment; economic development; human capital and panel data model;
    All these keywords.

    JEL classification:

    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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