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Recent evidence of the validity of the export-led growth hypothesis for Thailand

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  • Komain Jiranyakul

    ()
    (National Institute of Development Administration)

Abstract

Numerous empirical studies have devoted to analyze the role of exports in the growth process. This paper examines the relationship between real exports and real GDP in Thailand using quarterly data from 1993 to 2008. The results from the bounds testing for cointegration in a multivariate framework show that there is evidence of the validity of the export-led growth hypothesis, even though some previous studies that used Thailand data reject it. There exists the long-run causation running from exports to GDP. The policy implication of the results from this study is that deliberate policy measures that can stimulate production for exports will be growth enhancing for Thailand.

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File URL: http://www.accessecon.com/Pubs/EB/2010/Volume30/EB-10-V30-I3-P199.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 30 (2010)
Issue (Month): 3 ()
Pages: 2151-2159

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Handle: RePEc:ebl:ecbull:eb-10-00478

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  1. Awokuse, Titus O., 2002. "Is The Export-Lead Growth Hypothesis Valid For Canada?," Staff Papers 15823, University of Delaware, Department of Food and Resource Economics.
  2. Michaely, Michael, 1977. "Exports and growth : An empirical investigation," Journal of Development Economics, Elsevier, vol. 4(1), pages 49-53, February.
  3. Love, Jim & Chandra, Ramesh, 2005. "Testing export-led growth in Bangladesh in a multivarate VAR framework," Journal of Asian Economics, Elsevier, vol. 15(6), pages 1155-1168, January.
  4. Logan Rangasamy, 2009. "Exports and economic growth: The case of South Africa," Journal of International Development, John Wiley & Sons, Ltd., vol. 21(5), pages 603-617.
  5. Ahmad, Jaleel & Harnhirun, Somchai, 1995. "Unit roots and cointegration in estimating causality between exports and economic growth: Empirical evidence from the ASEAN countries," Economics Letters, Elsevier, vol. 49(3), pages 329-334, September.
  6. Urvashi Dhawan & Bagala Biswal, 1999. "Re-examining export-led growth hypothesis: a multivariate cointegration analysis for India," Applied Economics, Taylor & Francis Journals, vol. 31(4), pages 525-530.
  7. Chow, Peter C. Y., 1987. "Causality between export growth and industrial development : Empirial evidence from the NICs," Journal of Development Economics, Elsevier, vol. 26(1), pages 55-63, June.
  8. Balassa, Bela, 1978. "Exports and economic growth : Further evidence," Journal of Development Economics, Elsevier, vol. 5(2), pages 181-189, June.
  9. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
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Cited by:
  1. Jiranyakul, Komain, 2011. "Are Thai Manufacturing Exports and Imports of Capital Goods Related?," MPRA Paper 45654, University Library of Munich, Germany.
  2. Qazi Muhammad Adnan Hye & Houda Ben Haj Boubaker, 2011. "Exports, Imports and Economic Growth: An Empirical Analysis of Tunisia," The IUP Journal of Monetary Economics, IUP Publications, vol. 0(1), pages 6-21, February.

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