DOES FDI PROMOTE ENERGY EFFICIENT TECHNOLOGY IN INDIAN INDUSTRY?
Keywords:
Energy intensity, FDI, Industry, Services, Technology, FMOLS.Abstract
The paper analyzes the specific and co-effects of FDI inflows on energy intensity (EI) in India using data for 1986-2017 and employing fully modified ordinary least square (FMOLS) co-integration. The paper finds that FDI inflows, share of industry and services are co-integrated with energy intensity. The results indicate that the impact of FDI inflows on energy intensity in India does not conform to the theory of heterogeneity of firms in international trade. The specific effect of FDI and its co-effects with industry do not lower energy intensity in India. The co-effects of FDI and services sector are found to be marginal. As FDI inflows do not promote transfer of energy-efficient technologies, there is a need to incorporate EI as a parameter in FDI policy and strengthen its linkages with National Mission for Enhancement of Energy Efficiency.
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