Environmental Assessment and Technology for Hazardous Waste Management Research Center, Faculty of Environmental Management, Prince of Songkla University, Songkhla, Thailand.
Faculty of Management Sciences, Hamdard University, Islamabad, Pakistan.
PLoS One. 2023 Mar 9;18(3):e0282498. doi: 10.1371/journal.pone.0282498. eCollection 2023.
The idea behind the spillover effect of FDI on economic growth is based on the idea that multinational companies can bring technological innovation and rich knowledge to host countries. Therefore, FDI plays a vital role in technological innovations. This study aims to investigate the impact of foreign direct investment (FDI) on the technological innovation of BRICS countries from 2000 to 2020. This study uses the latest econometric techniques, such as the cross-sectional dependence (CD) test, second-generation unit root tests, panel cointegration tests and the Dumitrescu-Hurlin causality test. For long-run run estimation, this study uses the augmented mean group (AMG) panel estimator and the common correlated effects mean group (CCEMG) estimator for empirical analysis. The findings of the study show that foreign direct investment (FDI), trade openness, economic growth, and research & development expenditure positively impact technological innovation in BRICS countries. Also, the model's long-term causality and lagged error correction term (ECT) are significantly negative. Suggested policy measures will be helpful for BRICS economies in boosting technology innovation through FDI.
FDI 对经济增长的溢出效应背后的理念是基于这样一种观点，即跨国公司可以为东道国带来技术创新和丰富的知识。因此，FDI 在技术创新中起着至关重要的作用。本研究旨在调查 2000 年至 2020 年期间外国直接投资（FDI）对金砖国家技术创新的影响。本研究使用了最新的计量经济学技术，如横截面相关性（CD）检验、第二代单位根检验、面板协整检验和 Dumitrescu-Hurlin 因果检验。对于长期估计，本研究使用了扩展均值组（AMG）面板估计器和共同相关效应均值组（CCEMG）估计器进行实证分析。研究结果表明，外国直接投资（FDI）、贸易开放度、经济增长和研发支出对金砖国家的技术创新有正向影响。此外，模型的长期因果关系和滞后误差修正项（ECT）显著为负。建议的政策措施将有助于金砖国家经济体通过 FDI 促进技术创新。
