Export-Total Factor Productivity Growth Nexus in East Asian Economies
AbstractDespite increasing interest in the relationship between trade and macroeconomic performance in development economics, very limited studies have been conducted on the causal links between exports and productivity growth in Asian economies. This paper examines empirically the interplay between exports and productivity growth for eight East Asian economies in a multivariate framework by applying bound tests and modified Wald tests. The results indicate that causality is bi-directional in the case of Korea, Singapore and Taiwan, while unidirectional from productivity to exports for Mainland China, Hong Kong, Indonesia, Malaysia and the Philippines. These findings provide little support for the conventional export-led growth hypothesis.
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Bibliographic InfoPaper provided by Department of Economics, Loughborough University in its series Discussion Paper Series with number 2007_23.
Date of creation: Nov 2007
Date of revision: Nov 2007
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TFP; exports; bound tests; lag-augmented VAR; East Asian economies;
Other versions of this item:
- Hailin Liao & Xiaohui Liu, 2009. "Export-total factor productivity growth nexus in East Asian economies," Applied Economics, Taylor & Francis Journals, vol. 41(13), pages 1663-1675.
- NEP-ALL-2007-11-17 (All new papers)
- NEP-CNA-2007-11-17 (China)
- NEP-EFF-2007-11-17 (Efficiency & Productivity)
- NEP-INT-2007-11-17 (International Trade)
- NEP-SEA-2007-11-17 (South East Asia)
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