In this paper, author tried to find relation of foreign direct investment inflows with its determinants like growth rate, interest rate, exchange rate, inflation rate, fiscal deficit, openness in India during 1971-2015 through causality, co-integration and vector error correction models. In this paper, it was attempted to explain clearly that how foreign direct investment inflows and outflows have changed during several financial crises in different regions of the world since 1970s in support with a historical analysis over global financial crises. The paper concludes that FDI inflows in India has been catapulting at the rate of 21.56% per year during 1971-2015 and exponentially at the rate of 0.6044% per year significantly. It has four upward structural breaks in 1985, 1994, 2000 and 2006 respectively during the specified period. FDI inflows in India has causal relation uni-directionally with fiscal deficit, and bi-directionally with inflation, exchange rate, interest rate and growth rate during 1971-2015.Johansen co-integration test confirmed that Trace Statistic contains four co-integrating equations and Max Eigen Statistic has three co-integrating equations. VECM is stable, non-stationary and not good fit for four estimated equations and error corrections for the equations of change of interest rate and inflation rate showed significant with speeds of 23% and 103% per year. The paper also concludes that FDI does not cause Granger financial crises, but financial crises do cause Granger FDI. IntroductionForeign Direct Investment has several dimensions. It affects host countries' balance of payments and development process. It has long run effects on economic growth and sustainable development which depend on the character of FDI. However, the nexus between growth and FDI is indeterminate since it varies from region to region, country to country and from period to period although the globalization, liberalization and privatization drives accelerated the speed of the nexus towards positive direction irrespective of the distribution of income. Historically, FDI changes from merchants' capital to multinational investments, from imperialistic attitude to trade domination through economic integration (via financial integration) in international trade and finance.FDI does not cause crises directly, but it has indirect causes of bubbles and busts. Debt finance through FDI may stimulate debt burden under recession. Financial and banking crises may emerge if FDI in banking sector find losses and shut downs. Yet we cannot avoid the fact that FDI does not Granger cause of financial crises but financial crises do Granger cause FDI changes which were observed in all the financial crises in the world.Since the Baring crisis in 1870, India's FDI was dominated by British imperialism through East India Company whose chief competitors were Dutch East India Company, Danish East India Company, Portuguese East India Company, French East India Company and Swedish East India Company respectively. In 1913, India's foreign in...

The paper summarizes the principal notions of Kuznets hypothesis and Environmental Kuznets Curve as well as their implications in Nordic countries as examined by eminent scholars.The survey of huge literatures on this issue indicated that the absolute and relative decoupling of CO2 emissions were quite relevant for those countries who have been playing leading role in combating emissions to fulfill Paris Agreement. The main purpose of the research is to test empirically the decoupling CO2 emissions per capita from the GDP per capita in the Nordic countries from the World Bank data during 1970-2016 through panel data analysis which can detect the feasibility of environmental Kuznets curve hypothesis. This verification might be relevant to achieve higher GDP per capita that could force CO2 emission per capita to decline after a threshold point. The paper applied simple semi-log linear trend model to compute growth rate of GDP per capita and CO2 emission per capita. Fixed effect panel regression model was used after verifying Hausman test (1978) to find out decoupling theory. Bai-Perron model (2003) was applied for structural breaks of CO2 emission per capita. Fisher (1932) and Johansen model (1988, 1991) were used to find panel cointegration and vector error correction. The Wald test (1943) was done to confirm short run causality of the variables. The Cointegrating equations were justified to sort out long run causalities. Unit circle and impulse response functions showed stability and non-stationary of the model. The empirical findings of the time series data from 1970-2016 proved that Denmark and Norway satisfied the decoupling hypothesis significantly but Finland, Greenland, Iceland, Sweden showed insignificant decoupling. Denmark, Iceland and Sweden have downward structural breaks of CO2 emissions per capita and Norway showed upward structural breaks. On the other hand fixed effect panel regression analysis verified that there is no decoupling from per capita GDP , but there is absolute decoupling from square of the per capita GDP and there is relative decoupling from cube of the per capita GDP of the Nordic Countries from 1970 to 2016.Cointegration test suggest that both CO2 emission per capita and GDP per capita are cointegrated and VECM and the Wald test confirmed that there is short run and long run causalities from GDP per capita to CO2 emission per capita.The empirical research verified that environment Kuznets curve hypothesis is feasible in the Nordic countries during 1970-2016 and its shape is inverse U shaped. The results of the research can be useful to formulate policies on targeting GDP growth rate to reduce CO2 emissions within a specified period in the Nordic region.

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The paper endeavours to analyse the cyclical fluctuation, seasonal movement and trends of Indian GDP growth rate by applying both Hodrick-Prescott filter and Hamilton filter models taking St.Louisfred quarterly data from 2011Q4 to 2019Q4.The paper concludes that the seasonal adjustment and actual GDP growth rate of India have been merged with each other and they are identical in both the models. But the cyclical trend in H.P.Filter showed one upward humped but Hamilton filter showed cyclical fluctuations with two peaks and troughs and the seasonal variations are v shaped and highly volatile. Hamilton seasonal variations have been verified by applying residual test of correlogram which explained that autocorrelation and partial autocorrelation functions moved around both the sides significantly. Hamilton regression filter model is extended to forecasting ARIMA (1,0,0) model for 2030 which confirmed stationarity and stability. Even, the final trend cycle of GDP growth rate of India converges towards stationary process for 2025. Countercyclical fiscal and monetary policy including financial management strategies have been incorporated.

The paper basically explains the nature and trends of FDI inflows in agriculture and subsectors of agriculture in India under two broad ways. In the first case, the linear trend was examined utilising linear semi-log regression model. In the second case, the nature of cycle and the cyclical trend were found out by applying H.P. Filter model. The linear trend, cycle and cyclical trend of FDI inflows in India in agriculture during 2000-01-2017-18, agricultural services during 2001-02-2021-22, agricultural machinery, tea and coffee, food processing, sugar and fertilisers respectively during 2005-2018 have been computed. Yet, the paper included the nature of global FDI inflows in agriculture very briefly. The paper observed that the linear trends in FDI in agriculture, agriculture service, food processing have been increasing significantly in which their cycle and cyclical trends are significantly meaningful. On the other hand, the linear trends of FDI in tea and coffee and agricultural machinery have been declining insignificantly in which their cycles and cyclical trends are significant in H.P. Filter model. However, the linear FDI trends in sugar and fertilisers sectors have been stepping up insignificantly. Their cycles and cyclical trends revealed insignificant. In the second part, the paper examined the nexus between the gross value added in agriculture and FDI inflows in agriculture from 2000-01-2017-18 and agricultural service during 2001-02-2021-22 using double-log regression model and found out that there is positive relation between them which indicated a stable model. The paper included some important policy measures for India.