Aneesh K Anirudh

Jawaharlal Nehru University, CESP, School of Social Sciences, Doctoral Student

Universität Leipzig, Global and European Studies Institute, Erasmus Scholar

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Assistant Professor, Department of Economics, School of Social Sciences, Bannerghatta Road Campus, CHRIST (Deemed to be University), Bangalore, Karnataka, India.
Former Doctoral student at the Centre for Economic Studies and Planning (CESP), Jawaharlal Nehru University (JNU), New Delhi, India
Former Erasmus Mundus Scholar (EMJMD) at the Global and European Studies Institute (GESI), University of Leipzig, Germany
Interested in the teaching and research areas of Public Economics and Policy, Macroeconomics and Topics in Development Economics.
Supervisors: Prof. Arun Kumar, Malcom Adisheshia Chair Professor, Institute of Social Sciences (ISS), New Delhi, Former Sukhamoy Chakravarthy Chair Professor, Centre for Economic Studies and Planning, JNU, New Delhi, India and Prof. Shakti Kumar, Chairperson, CESP, JNU, New Delhi, India

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Impact of Economic Freedom and Foreign Direct Investment on Economic Development: A Study of G-5 Economies

by Aneesh K Anirudh and ANKITA DHYANI 21223619

IOSR Journal Of Humanities And Social Science (IOSR-JHSS), 2023

A desire for upliftment, well-being, freedom, and prosperity is an innate human tendency. More of... more A desire for upliftment, well-being, freedom, and prosperity is an innate human tendency. More often than not, humans tend to equate this freedom with their entire identities. Freedom is defined as either having the capacity to act or change without restriction or having the strength and resources to pursue one's goals without interference. But at times, interference in question is the requirement of the situation, making freedom biased and subjective. People have been relegated to poverty and degradation for a large portion of human history because they lacked economic freedom, i.e., the right to be in charge of their labour and property and, in turn, opportunities. Economic freedom is one of the variables that have an association with the development of the economy. With newfound ideologies like "minimum government, maximum governance" in India or global waves of start-ups, the rise of the gig economy, an engineer turned stand-up comedian movements; we are expanding the freedom boundaries further & further. This puts the government in a difficult position and makes it crucial for us to study the impacts of the same on different facets. This study also uses Foreign direct investment as another critical variable, which helps in knowing the international situation of the G-5 economies. Using panel data analysis and regression models such as pooled OLS, fixed effect model, and random effect model, this paper investigates the impact of these variables on the economic development indicator Human Development Index. An attempt was made to determine if both variables positively affect economic development indicators. As emerging and rapidly developing economies, more macroeconomic variables influence these countries' economic development.

Aneesh K Anirudh

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