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Economic Reforms, Foreign Direct Investment and its Economic Effects in India
The authors assess the growth implications of FDI in India by subjecting industry-specific FDI and output data to Granger causality tests within a panel cointegration framework. Results reveal that the growth effects of FDI vary widely across sectors.
Link
http://www.uni-kiel.de/ifw/pub/kap/2006/kap1272.pdf