Home country impact on Outward FDI from India |
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| Affiliation: | 1. CeRP-Collegio Carlo Alberto and Ufficio Studi Compagnia, San Paolo, Italy;2. University of Turin, Dep. of Economics and Statistics, Turin, Italy;3. University of Insubria, Dep. of Economics, Varese, Italy;4. ISER University of Essex, United Kingdom, CeRP-Collegio Carlo Alberto, Turin, Italy and Dondena-University Bocconi, Milan, Italy;1. Université Paris-Est, IRG (EA 2354), UPEC, UPEM, Pôle du Bois de l''Étang, 5 Bd Descartes, Bureau C241A, F-77454 Marne-la-Vallée, France;2. EM Normandie Business School, Métis Lab, Paris, France;3. Institut de Recherche en Gestion (EA 2354), Université Paris Est, Créteil, France;4. College of Business Administration, King Saud University, Saudi Arabia;1. 805, Hilife Magnifique, Varthur Panathur Road, Balagere, Bangalore 560087, India;2. Xavier School of Management (XLRI), CH Area (East), Jamshedpur 831001, India;1. CIRAD, UMR MOISA, F-34398 Montpellier, France;2. MOISA, MUSE Univ Montpellier, CIRAD, Montpellier, France;3. CIRAD, ICARDA, Station Exp. INRA-Quich, Rue Hafiane Cherkaoui. Agdal, B.P. 6299 Rabat, Morocco;4. SELMET, MUSE Univ Montpellier, CIRAD, Montpellier, France;5. CIRAD, Departement Environments & Societies, TA C DIR/B Campus International de Baillarguet, F-34398 Montpellier, France;6. CIRAD, MUSE Univ Montpellier, Montpellier, France;7. CIRAD, UMR SELMET, F-34398 Montpellier, France;8. SELMET, Univ Montpellier, CIRAD, Montpellier, France;9. Department of Veterinary Services, Ministry of Fisheries and Livestock, P.O. Box 50060, Lusaka, Zambia;10. World Bank, Washington, United States |
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| Abstract: | The altering policy environment in emerging markets and the surge in their outward foreign direct investment (OFDI) calls for an empirical investigation. Accordingly, this paper examines the effect of home country macroeconomic conditions and Government policies on the OFDI flows from India during the period 1984 to 2015. Incorporating the structural breaks in the empirical model, results indicate the existence of a long-run relationship between OFDI flows and home country macroeconomic and Government policies. Government policies relating to foreign trade and investment and financial sector development are found to be significant determinants. The results also suggest the need for the Government to enhance its effort on the development of knowledge infrastructure in order to support the OFDI from India's manufacturing sector and thereby contribute to the success of “Make in India” programme. Policy implications are discussed. |
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| Keywords: | Foreign direct investment India Policy Make in India |
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