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An Empirical Note on the Export-Led Growth Hypothesis: The Case of Malaysia

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  • Ibrahim, Mansor H.

    (Department of Economics, International Islamic University Malaysia)

Abstract

The present empirical note re-examines the export-led growth hypothesis for the case of Malaysia. Using standard procedures of unit root testing, cointegration and error correction modelling, we find evidence for bi-directional causality between exports and real output per capita. Addressing the issue of exogeneity, we test for weak exogeneity and super exogeneity of exports within the error correction framework. We find evidence that exports are not weakly exogenous and subsequently, are not super exogenous. This result weakens the case for the export-led growth hypothesis. In the Malaysian context, the Lucas critique applies, namely, that the relationship between exports and real output per capita is not invariant to policy changes or regime shifts.

Suggested Citation

  • Ibrahim, Mansor H., 2002. "An Empirical Note on the Export-Led Growth Hypothesis: The Case of Malaysia," Economic Analysis and Policy, Elsevier, vol. 32(2), pages 221-232, June Spec.
    • Handle: RePEc:eee:ecanpo:v:32:y:2002:i:2:p:221-232
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    Cited by:

    1. Lean, Hooi Hooi & Smyth, Russell, 2010. "Multivariate Granger causality between electricity generation, exports, prices and GDP in Malaysia," Energy, Elsevier, vol. 35(9), pages 3640-3648.
    2. Amjad, Y. & Naseeem, N.A.M & Azman-Saini, W.N.W. & Masron, tajul & Kriskkumar, K., 2018. "Export-led Growth Hypothesis in Malaysia: New Evidence Using Disaggregated Data of Exports," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 52(3), pages 167-179.
    3. Tang, Chor Foon & Abosedra, Salah, 2019. "Logistics performance, exports, and growth: Evidence from Asian economies," Research in Transportation Economics, Elsevier, vol. 78(C).
    4. Asmawi Hashim & Norimah Rambeli & Norasibah Abdul Jalil & Normala Zulkifli & Emilda Hashim & Noor Al-Huda Abdul Karim, 2019. "Does Export Led Growth Hypothesis Hold Under World Crisis Recovery Regime in Malaysia?," Research in World Economy, Research in World Economy, Sciedu Press, vol. 10(5), pages 9-19, December.

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