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IoT, FDI, and Trade Openness Unlocking Economic Growth in BIMSTEC Nations
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Author(s): Rajesh Kumar (Institute of Management Studies, Ghaziabad, lndia & National Institute of Technology Agartala, India)and Debasis Neogi (National Institute of Technology Agartala, India)
Copyright: 2026
Pages: 20
Source title:
Technology, Geopolitics, and the Transformation of International Political Economy
Source Author(s)/Editor(s): Kittisak Wongmahesak (North Bangkok University, Thailand), Thanaporn Sriyakul (North Bangkok University, Thailand), Uday Kumar Ghosh (Lincoln University, USA)and Ismail Suardi Wekke (Institut Agama Islam Negeri Sorong, Indonesia)
DOI: 10.4018/979-8-3373-1727-4.ch014
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Abstract
The regional cooperation institution, BIMSTEC, helps economic development and integration among its seven South and Southeast Asian member countries. The article compares the ratio of GDP per capita with the indicators viz Trade Openness, CPI, FDI, Internet Users and Information and Communication Technology. INT and ICT as proxy of the Internet of Things shows how digital infrastructure will be crucial for economic success. For panel data between 1999 and 2019, Fixed and Random Effects models verified by Hausman specification test for heterogeneity and time-invariant characteristics across member states are applied. The data, provided by reputable sources like the World Bank, IMF, UNCTAD and so on, guarantee validity and reliability. The results offer policymakers and stakeholders practical takeaway that emphasises how digital transformation, foreign investment and trade liberalisation contribute to economic growth. Additionally, the study argues for stability in macroeconomic policies and sustainable development measures to promote economic resilience and regional stability.
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