In this paper we analyze the determinants of outward FDI (OFDI) with reference to Indian manufacturing firms. Mainly we examine the impact of firm-specific characteristics such as productivity, exports, imports of technology, and research and development (R&D) intensity on the OFDI of firms for the period from 1998 to 2009. We use dynamic random-effects Probit and Tobit models to examine the determinants of OFDI. The results support the theoretical argument that more highly productive firms undertake OFDI as a mode of internationalization. The study reveals a complementary relationship between OFDI and exports by Indian firms. R&D investment and imports of technology in the form of capital goods play important roles in both the probability of undertaking OFDI and the share of OFDI.
This study attempts to investigate the factors determining COVID-19 deaths during the pandemic across countries by employing a rich dataset sourced from 94 countries updated till 6 February, 2022. For empirical analysis, the study makes use of cross-sectional linear regression technique in the first part and after required diagnostic tests use 2SLS regression technique for correcting possible endogeneity bias in the second part. Findings from the study indicate that factors like total reported cases, population size, population over 70 years of age, extreme poverty, and human development index play significant role in determining COVID-19-related death. Further, to check the robustness of the findings the present study employed LASSO regression. Findings from the study highlight the possibility of government intervention to devise appropriate policies to control COVID-related incidence and death.
This study attempts to empirically examine the importance of market share reallocation and average productivity improvements in driving aggregate productivity growth. By using Olley and Pakes, Econometrica, 1996, 64(6), 1263-1297 decomposition method, we show that aggregate productivity growth has mainly been driven by improvements in average productivity (with-in firm productivity improvement) and not reallocation during the post liberalization phase (1999-2010) for the manufacturing sector in India. We also show that for many industries (sub-sectors of manufacturing) the reallocation effect is negative and was driving the aggregate productivity down, compared to average productivity, which has driven the aggregate productivity up. The findings from the study confirms the important role of with-in firm productivity improvement in aggregate productivity growth. Hence, the study emphasizes the need for positive policy interventions by the government that could enhance with-in firm productivity growth through internal restructuring.
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