FDI Spillovers in Emerging Markets: Does Economic Policy Uncertainty and Geopolitical Risk Matter?
Journal: Organizations and Markets in Emerging Economies
Year: 2025

This study investigates the influence of economic policy uncertainty (EPU) and geopolitical risk (GPR) on the spillovers of foreign direct investment (FDI) within emerging markets, represented by the BRICS (Brazil, Russia, India, China, and South Africa) nations. Using a Time-Varying Parameter Vector Autoregressive (TVP-VAR) model and a dynamic Diebold and Yilmaz (DY) (2012) spillover index, the research assesses the interconnectedness and spillover effects of FDI flows among the BRICS countries