Department of Finance, School of Economics & Management, Beihang University (BUAA), 37 Xueyuan Road, Haidian District, Beijing, P.R. 100191, China.
Department of Management Sciences, The Superior College Lahore Pakistan , Lahore, Pakistan.
Environ Sci Pollut Res Int. 2019 Sep;26(26):27128-27137. doi: 10.1007/s11356-019-05903-7. Epub 2019 Jul 17.
The purpose of this study is to explore the empirical relationship between foreign direct investment (FDI), population, energy production, and water resources in South Asia. The newly developed approach dynamic common correlated effects (DCCE) by Chudik and Pesaran (Journal of Econometrics 188:393-420, 2015a) for measuring co-integration has been applied in the present study. This procedure provides significant robust outcomes in the presence of cross-sectional dependence among the cross-sectional units. The findings confirmed that earlier models, such as mean group (MG), pooled mean group (PMG), and augmented mean group (AMG), which have been used in the literature for long data, provide misleading results in the presence of cross-sectional dependence among the cross-sectional units. A statistically significant and negative result has been observed between FDI, population, energy production, and water resources in South Asia. The governments of South Asian economies must encourage green FDI initiatives for water management, ensuring water security, securing natural resources for enhancing the sustainable development of regional economies.
本研究旨在探讨南亚地区外国直接投资（FDI）、人口、能源生产和水资源之间的实证关系。本研究应用了 Chudik 和 Pesaran（2015a，《计量经济学杂志》第 188 卷：393-420）提出的新的动态共同相关效应（DCCE）方法来衡量协整。该方法在横截面单位之间存在横截面相关性的情况下提供了显著稳健的结果。研究结果证实，早期模型，如均值组（MG）、混合均值组（PMG）和扩充均值组（AMG），在文献中被长期用于长数据，在横截面单位之间存在横截面相关性的情况下会产生误导性结果。南亚地区 FDI、人口、能源生产和水资源之间存在显著的负相关关系。南亚经济体的政府必须鼓励绿色 FDI 倡议，用于水资源管理，确保水安全，保护自然资源，以促进区域经济的可持续发展。
