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Common and Uncommon Sources of Growth in Asia Pacific

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  • Enzo Weber

Abstract

This paper embarks to analyse the role of exports and investment supposed to be major sources of economic growth in Asia Pacific. Therefore at first, the cointegration properties of exports, capital formation and GDP are examined in vector error correction models (VECMs). The results confirm the crucial role of exports and investment in the Asian growth dynamics. In a second stage, the structural shocks are identified by short- and long-run restrictions. These shocks, as well as the corresponding dynamic responses, are then correlated across all sample countries to provide insight into the depth of regional coherence. At last, the identified trends are explained by various macroeconomic variables.

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Bibliographic Info

Paper provided by Sonderforschungsbereich 649, Humboldt University, Berlin, Germany in its series SFB 649 Discussion Papers with number SFB649DP2006-064.

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Length: 29 pages
Date of creation: Sep 2006
Date of revision:
Handle: RePEc:hum:wpaper:sfb649dp2006-064

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Keywords: Economic Growth; Structural VECM; Export; Investment; Asia Pacific;

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Cited by:
  1. Nagayasu, Jun, 2010. "Macroeconomic Interdependence in East Asia," MPRA Paper 27129, University Library of Munich, Germany.
  2. Hideaki Hirata & Keisuke Otsu, 2011. "Accounting for the economic relationship between Japan and the Asian Tigers," Studies in Economics, Department of Economics, University of Kent 1120, Department of Economics, University of Kent.

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