Indian FDI has been rapidly growing into developed region. As a result, developed region emerged as the largest host to Indian investment during 2000-07. An increasing number of firms from a wide range of economic activities are now undertaking FDI projects into developed countries. Considering...

The authors employ panel Vector Error Correction Models (VECM) and cointegration framework to identify the existence and direction of the causal association between foreign direct investment (FDI) in financial services and financial development for 26 emerging economies for the period 2003-2015....