International Trade, Foreign Direct Investment, Financial Development and Renewable Energy Supply: Panel Data Evidence from Newly Industrialized Countries

In many newly industrializing countries (NICs), increased international trade activities are often triggered by several advancements, including attracting foreign direct investment (FDI), financial development, and technological changes. Recently, abundant diversified renewable energy sources used in production have also started to take their place among these advancements. Although the relationship between FDI, developments, for NICs has been analyzed studies, incorporating supply’s impact this linkage relatively narrow. This paper aims fill gap literature investigating effects of supply on industrialized using panel causality cointegration analyses 1990 2019. Our findings indicate (i) uni-directional running from (ii) (iii) bi-directional development FDI. The result analysis showed that there is no long-term variables.