Social scientists have long queried the socio-structural determinants of fertility rates. Drawing on the insights of dependency theory, this research investigates the impact of trade openness, exports to high-income countries, foreign direct investment, and debt dependence on fertility rates in developing countries. Results from generalized least squares (GLS) random effects (RE) panel regression models suggest that trade openness has a null effect, while exports to high-income countries is positively associated with fertility. Foreign direct investment is inversely associated with fertility, while debt dependence is positively associated with fertility. This study calls attention to the global–economic processes shaping national-level demographic outcomes.
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