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A Panel Data Analysis of G7 Nations With Emphasis on ICT Service Export and Sustainable Development
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Author(s): Rajesh Kumar (National Institute of Technology, Agartala, India), Debasis Neogi (National Institute of Technology, Agartala, India)and Anand Jaiswal (New Delhi Institute of Management, India)
Copyright: 2024
Pages: 18
Source title:
Utilizing Technology for Sustainable Resource Management Solutions
Source Author(s)/Editor(s): Kuldeep Singh (School of Management, Gati Shakti Vishwavidyalaya, Vadodara, India), Richa Singh Dubey (Motilal Nehru National Institute of Technology Allahabad (MNNIT) Allahabad, India), Douglas W.S. Renwick (Nottingham Business School, Nottingham Trent University, UK)and Rohan Crichton (David D. Reh School of Business, Clarkson University, USA)
DOI: 10.4018/979-8-3693-2346-5.ch010
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Abstract
This study explores the complex ties among ICT, foreign investment, and economic growth in the G7 nations. Using robust tests and regression analysis, it examines how these factors interplay and affect GDP swings. Surprisingly, FDI seems less impactful, hinting at other drivers for economic shifts. Notably, trade openness (ICT exports) inversely relates to GDP, suggesting a balance between international trade and local production. Moreover, GDP strongly correlates with reserves and sustainable development, underscoring their role in fostering growth. The research validates a random effects model, showcasing unobserved effects tied to the analysis. Overall, it offers vital insights into G7 economies from 1995 to 2019, emphasizing the need to consider multiple economic forces. Its implications are invaluable for discussions and policies shaping international trade and cooperation among these influential nations.
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