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IMPACT OF FOREIGN DIRECT INVESTMENT OFFICIAL DEVELOPMENT ASSISTANCE AND FINANCIAL DEVELOPMENT ON ECONOMIC GROWTH AN EMPIRICAL ANALYSIS IN SELECTED ASIAN COUNTRIES

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11 Pages : 116-123

http://dx.doi.org/10.31703/gssr.2023(VIII-I).11      10.31703/gssr.2023(VIII-I).11      Published : Mar 2023

Impact of Foreign Direct Investment, Official Development Assistance, and Financial Development on Economic Growth: An Empirical Analysis in Selected Asian Countries

Abstract

    This research analyses the role of foreign direct investment (FDI) and official development assistance with financial   development in determining the economic growth (EG) of selected Asian countries by using data from 2003 to 2018. In this research, we investigate the important role of official development assistance (ODA) and foreign direct investment along with other variables affecting GDP in selected Asian countries. By using panel data, a random effect technique is used to highlight the impact of ODA and FDI on GDP in selected Asian countries. The study results showed that official development assistance, urban population growth, and financial development have increased GDP in these countries. Findings suggest that a stable economic and political environment must be provided for further foreign aid and foreign direct investment. More credit facilities must be provided to the general public for more investment and economic growth.

    (1) Hassan Shakeel Shah
    Associate Professor, University of Management and Technology, Lahore, Punjab, Pakistan.
    (2) Asghar Kamal
    PhD Scholar, Department of Banking and Finance, University of Management and Technology, Lahore, Punjab, Pakistan.
    (3) Muhammad Tayyab
    BS, Department of Economics, International Islamic University, Islamabad, Pakistan
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Cite this article

APA

    APA : Shah, H. S., Kamal, A., & Tayyab, M. (2023). Impact of Foreign Direct Investment, Official Development Assistance, and Financial Development on Economic Growth: An Empirical Analysis in Selected Asian Countries. Global Social Sciences Review, VIII(I), 116-123. https://doi.org/10.31703/gssr.2023(VIII-I).11

CHICAGO

    CHICAGO : Shah, Hassan Shakeel, Asghar Kamal, and Muhammad Tayyab. 2023. "Impact of Foreign Direct Investment, Official Development Assistance, and Financial Development on Economic Growth: An Empirical Analysis in Selected Asian Countries." Global Social Sciences Review, VIII (I): 116-123 doi: 10.31703/gssr.2023(VIII-I).11

HARVARD

    HARVARD : SHAH, H. S., KAMAL, A. & TAYYAB, M. 2023. Impact of Foreign Direct Investment, Official Development Assistance, and Financial Development on Economic Growth: An Empirical Analysis in Selected Asian Countries. Global Social Sciences Review, VIII, 116-123.

MHRA

    MHRA : Shah, Hassan Shakeel, Asghar Kamal, and Muhammad Tayyab. 2023. "Impact of Foreign Direct Investment, Official Development Assistance, and Financial Development on Economic Growth: An Empirical Analysis in Selected Asian Countries." Global Social Sciences Review, VIII: 116-123

MLA

    MLA : Shah, Hassan Shakeel, Asghar Kamal, and Muhammad Tayyab. "Impact of Foreign Direct Investment, Official Development Assistance, and Financial Development on Economic Growth: An Empirical Analysis in Selected Asian Countries." Global Social Sciences Review, VIII.I (2023): 116-123 Print.

OXFORD

    OXFORD : Shah, Hassan Shakeel, Kamal, Asghar, and Tayyab, Muhammad (2023), "Impact of Foreign Direct Investment, Official Development Assistance, and Financial Development on Economic Growth: An Empirical Analysis in Selected Asian Countries", Global Social Sciences Review, VIII (I), 116-123

TURABIAN

    TURABIAN : Shah, Hassan Shakeel, Asghar Kamal, and Muhammad Tayyab. "Impact of Foreign Direct Investment, Official Development Assistance, and Financial Development on Economic Growth: An Empirical Analysis in Selected Asian Countries." Global Social Sciences Review VIII, no. I (2023): 116-123. https://doi.org/10.31703/gssr.2023(VIII-I).11