Choi, Yoon Jung; Baek, Jungho - In: Economies : open access journal 5 (2017) 2, pp. 1-9
direct investment (FDI), controlling for trade, in the framework of the cointegrated vector autoregression (CVAR). For this … purpose, using the Solow residual approach the aggregate total factor productivity (TFP) in India is estimated to measure FDI …-induced spillovers. The results show that the inflow of FDI to India indeed improves TFP growth through positive spillover effects. We …