Abstract

Adding to the vast literature readings, this study investigates the role of major determinants of economic development in Belarus from the period of 1992-2017. We employed the simple OLS regression and ARDL Bound testing approach to determine the economic indicators of Belarus. Our findings exhibit that imports and exports have been remained as major determinant whereas, FDI has not been a significant part since last three decades. Belonging to the pool of developing world, FDI has not been a determinant in Belarus while its main emphasis is on exports and imports. This study also implicates the Belarus’ initiative with other developing countries to increase FDI and reduce State-owned Influence. While ensuring the differences with other economies, government must attract the economically suitable FDI avoiding any possible negative effects of FDI on GDP.

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