Export-Growth Linkages In Selected Asian Developing Countries: Evidence From Panel Data Analysis
AbstractThis study examines the export-growth linkages for selected Asian developingcountries for the period of 1975-2008. To test the causal relationship between exportsand growth, this study employs panel unit root tests (IPS, LLC and Hadri), Larsson etal. (2001) likelihood-based panel co-integration technique, FMOLS by Pedroni (2001)and Hurlin and Venet (2001) panel causality test. The result of panel co-integrationrank test confirms the existence of unique co integration relation between economicgrowth and exports in selected Asian developing countries. The estimated results ofFMOLS shows that during a long period of time to export more, higher growth isrequired. The results based on panel homogenous causality hypothesis shows thesignificant effect of economic growth on export in selected panel. While the results onpanel non-homogenous causality hypothesis show the existence of bi-directionalcausality between economic growth and exports. However, the empirical results onheterogeneous causality hypothesis show that the causality is found running fromeconomic growth to exports in case of Pakistan, Sri Lanka and Indonesia and fromexports to economic growth in Malaysia and Thailand. Bidirectional causality alsoexists in case of India, Sri Lanka and Indonesia while neutral hypothesis is found incase of Bangladesh.
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Bibliographic InfoArticle provided by Asian Economic and Social Society in its journal Asian Journal of Empirical Research.
Volume (Year): 1 (2011)
Issue (Month): 1 (September)
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Export-growth Linkages; Panel Cointegration; Hurlin and Venet Causality Test;
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- Muhammad, Shahbaz & Mohammad, Mafizur Rahman & Abdul, Farooq, 2012. "Financial Development, International Trade and Economic Growth in Australia:New Evidence from Multivariate Framework Analysis," MPRA Paper 42023, University Library of Munich, Germany, revised 17 Oct 2012.
- Mohamed Arouri & Gazi Salah Uddin & Kishwar Nawaz & Muhammad Shahbaz & FrÃ©dÃ©ric Teulon, 2013. "Causal Linkages between Financial Development, Trade Openness and Economic Growth: Fresh Evidence from Innovative Accounting Approach in Case of Bangladesh," Working Papers 37, Department of Research, Ipag Business School.
- Greenwell Collins Matchaya & Pius Chilonda & Sibusiso Nhelengethwa, 2013. "International Trade and Income in Malawi: A Co-integration and Causality Approach," International Journal of Economic Sciences and Applied Research (IJESAR), Technological Educational Institute (TEI) of Kavala, Greece, vol. 6(2), pages 125-147, September.
- Shahbaz, Muhammad & Tiwari, Aviral Kumar & Tahir, Mohammad Iqbal, 2013. "Analyzing Time-Frequency Relationship between Oil Price and Exchange Rate in Pakistan through Wavelets," MPRA Paper 48086, University Library of Munich, Germany, revised 05 Jul 2013.
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