Sustainability through economic diversity: Examining the role of trade diversification, productive population, and foreign direct investment in selected Asian countries

Abstract

This study explore the pertinent role of sustainability, trade direction diversification, productive population, and foreign direct investment across selected countries of Asia is viewed of leveraging on a battery of estimators i.e. Augmented Mean Group (AMG), Fully Modified Ordinary Least Squares (FMOLS), Dynamic Ordinary Least Squares, and Standard Errors by Driscoll and Kraay methods for robust estimates and accounting for endogeneity and cross-sectional dependence for the selected bloc. Empirical results that foreign direct investment (FDI) exerts a negative effect on sustainability. Thus, implying that FDI growth in the study area dampens economic sustainability while productive population and trade engenders sustainability in the selected Asian blocs. These outcomes have inherent polices implications which highlights the need for robust trade and productive population strategies and policies which will trigger increased sustainability. More insights are renders in the concluding section.

Affiliated Institutions

• The Federal Polytechnic, Ado-Ekiti NG
• Air University PK
• Azerbaijan State University of Economics AZ
• Northwestern Polytechnical University CN

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