The paper explores the long run equilibrium nexus between financial deepening, foreign direct investment (FDI) and economic growth in India during 1970-2007. Using Johansen¡¯s cointegration technique, the paper finds that financial deepening; foreign direct investment and economic growth are...

The paper investigates the random walk properties of foreign trade. The data used in the empirical test correspond to monthly exports and imports of India in the globalization era of 1990s. The test of random walk employed in this study is the variance ratio test, developed by Lo and Mackinlay....