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Structural change and economic growth in selected emerging economies

Author

Listed:
  • Muhamed Zulkhibri
  • Ismaeel Naiya
  • Reza Ghazal

Abstract

Purpose - – This paper aims to investigate the relationship between structural change and economic growth for a panel of four developing countries, namely, Malaysia, Nigeria, Turkey and Indonesia over 1960-2010. Design/methodology/approach - – The study extent the growth equation by incorporating degree of openness, labour and investment and construct structural change indices – modified Lilien index and the norm of absolute values. It utilizes the recently developed panel cointegration techniques to test and estimate the long-run equilibrium of the growth equation. Findings - – The results confirm that structural change and economic growth are cointegrated at the panel level, indicating the presence of long-run equilibrium relationship. However, the impact of structural change on economic growth seems to be small and evolve slowly. Originality/value - – The findings indicate the need for policymakers to identify the binding constraints that impede growth and the importance of institutionalize policy to encourage investment in productive sectors.

Suggested Citation

  • Muhamed Zulkhibri & Ismaeel Naiya & Reza Ghazal, 2015. "Structural change and economic growth in selected emerging economies," International Journal of Development Issues, Emerald Group Publishing Limited, vol. 14(2), pages 98-116, July.
    • Handle: RePEc:eme:ijdipp:v:14:y:2015:i:2:p:98-116
    DOI: 10.1108/IJDI-09-2014-0064
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    Citations

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    Cited by:

    1. Onoja, Anthony, 2021. "Trends and Determinants of Cereal Productivity Growth in Southern Africa Region: A DEA and Cointegration Approach," 2021 Conference, August 17-31, 2021, Virtual 315915, International Association of Agricultural Economists.

    More about this item

    Keywords

    Economic growth; Panel cointegration; Structural change; C12; C23;
    All these keywords.

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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