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Title: Foreign Aid and its Macroeconomic Effect in India and Sri Lanka: An Empirical Investigation
Authors: Bhujabal, Padmaja
Sethi, Narayan
Das, Aurolipsa
Sucharita, Sanhita
Keywords: Foreign Aid
Economic Growth
Issue Date: Jan-2019
Citation: 55th Annual Conference of The Indian Econometric Society (TIES 2019), Mumbai, India, 8-10 January 2019
Abstract: This paper examines the relationship between foreign aid (ODA) and economic growth for India and Sri Lanka, using the annual time series data for the period 1960-61 to 2014-15. We have employed Johansen and Juselius (JJ) to test and VECM-Granger Causality test to find the short run dynamic and long run equilibrium relationship among the variables. We find that there exists short and long run equilibrium relationship between ODA, economic growth and other macroeconomic variables. However, the direction of relationship between ODA and economic growth counters in India and Sri Lanka, both in short run and long run.
Description: Copyright of this document belongs to proceedings publisher.
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