This study examines the influence of green field investment, energy consumption, economic growth and urbanization on the environmental performance of nine selected Asian developing countries over 2003–2014 period. It uses Environmental Performance Index (EPI), developed by the Yale University as proxy for environment. By applying the fixed and random effect estimators and robust least squares technique, the empirical findings show that green field investment has adverse effect on the environmental performance of the nine selected Asian developing countries. However, economic growth is found to have positive influence on the environmental performance. The results suggest that strict environmental regulations should be introduced to mitigate the detrimental effects of foreign capital in these countries and there should not be compromise on the quality of foreign capital. In addition, adequate policies should be formulated to enhance economic growth to ensure sustainable environment in these regions. © 2017 American Institute of Chemical Engineers Environ Prog, 37: 1085–1092, 2018

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The main objective of this study is to empirically investigate the relationship between exports, Foreign Direct Investment (FDI) and the economic growth in Malaysia. Records of annual time series data from the year 1971 till 2013 have been utilized for this purpose. Upon testing the data for stationarity, the Auto Regressive Distributed Lag (ARDL) model has been applied for the purpose of empirical investigation. The empirical results indicate that the productivity factor and externality effect of exports on the non-export sector are found to be statistically, positively significant, with the exports also having a positive impact on the economic growth and FDI of the country. The results support Exports Led Growth (ELG) and FDI-Led economic Growth (FLG) in Malaysia. The finding further suggests that Malaysia should continuous pursue exports promotion and a liberal investment economic policy in order to maintain and bolster overall economic growth.

Purpose The purpose of this paper is to empirically examine the effects of financial liberalization and trade openness on the economic growth of two countries, namely, Pakistan and India for the period 1985-2014. Design/methodology/approach This study uses the autoregressive distributed lag technique, which allows mixed order of integration. In addition, it uses the principal component method to create an index for financial liberalization to examine how it affects the economic growth of the selected countries. Findings The findings reveal that in the short and long run, trade openness has positive effect on the Pakistan’s economic growth while the financial liberalization has positive impact only in the long run. In the case of India, both financial liberalization and trade openness positively and significantly influence the economic growth in the short and long run. Practical implications By comparing the results of both countries, trade openness and financial liberalization increase the economic growth of India more than that of Pakistan. These results suggest that Pakistan should consider appropriate positive policies regarding financial liberalization and trade openness to achieve high and stable economic growth in the future. Originality/value This study creates financial liberalization index by using the principal component analysis method to explain the role of financial liberalization in the economic growth of Pakistan and India. In addition, it makes comparison of the results based on which country benefits most from the liberalization of trade and financial sectors. Only very few studies have examined these countries, yet their results have remained inconclusive as well.

The broad objective of the present study is to examine whether a long run relationship between defense expenditure and economic growth of Pakistan exist. For empirical investigation, an annual time series data over the period from 1980-2013, and ARDL was used. The empirical results support the existence of long run negative relationship between defense expenditure and economic growth. The results for long run negative relationship between defense expenditure and economic growth was suggested just in case Pakistan MKH does not hold during the period under study. The findings further suggested that the policy makers need to formulate appropriate policy to encourage and not to discourage the economic growth and development of Pakistan.