Acknowledgement

Used Codes in Stata

reg gdpgrowth externaldebt debtservice fdi tradeopenness laborparticipation
sum gdpgrowth externaldebt debtservice fdi tradeopenness laborparticipation
vif
hettest
rvfplot, yline(0)
predict residual, resid
predict e, residuals
kdensity e, normal name (kdens,replace)
gen t=_n
tsset t
dwstat
prais gdpgrowth externaldebt debtservice fdi tradeopenness laborparticipation
reg gdpgrowth externaldebt debtservice fdi tradeopenness laborparticipation
ovtest
correlate gdpgrowth externaldebt debtservice fdi tradeopenness laborparticipation residual, covariance

References

Bilan, I. (2016). Overview of the Main Theories on the Economic Effects of Public Indebtedness. European Integration-Realities and Perspectives Proceedings, 356-362

Cunningham, R. T. (1993). The effects of debt burden on economic growth in heavily indebted developing nations. Journal of economic development, 18(1), 115-126.

Krugman, P. 1988. Financing vs. Forgiving a Debt Overhang, Journal of Development Economics, 29: 253-268 https://www.sciencedirect.com/science/article/pii/0304387888900442

Keynes, J. M. (2018). The general theory of employment, interest, and money. Springer

Krugman, P. (1988). Financing vs. forgiving a debt overhang, Journal of Development Economics, 29(3): 253-268.

Serven, L. (2007). Fiscal Rules, Public Investment, and Growth, World Bank Policy Research Working Paper 4382.

Diamond, P. (1965). National debt in a neoclassical growth model. American Economic Review, 55(5): 1126-1150.

United Nations (2005 Vol 1) Transnational Corporations and the Internationalization of R&D (World Investment Report 2005). UNCTAD, United Nations New york and Geneva

Carkovic M. Levine R. (2002) ‘‘Does foreign direct investment accelerate economic growth?’’ University of Minnesota Department of finance ‘working paper’ Online www.ssrn.com

Caves R.E (1996) Multinational enterprise and economic analysis Cambridge University press. New York

Lipsey R.E. (1999) ‘’ The United States and Europe as Suppliers and Recipients of FDI ‘’. National Bureau of Economic Research, City University of New York (Pavia Conference)

Denton, F. T., Spencer, B. G., (1997). Population, labour force and long-term economic growth. Hamilton, Ont.: Research Institute for Quantitative Studies in Economics and Population, McMaster University. Ejaz, M. (2007). Determinants of Female Labor Force Participation in Pakistan An Empirical Analysis of PSLM (2004-05) Micro Data. Lahore Journal of Economics.

Duval, R., Eris, M., & Furceri, D. (2010). Labour Force Participation Hysteresis in Industrial Countries: Evidence and Causes.