A Panel Data Approach to the Contribution of Trade to the Growth of Selected East Asian Countries
AbstractPanel data methods are used to estimate the contribution of openness of trade to the long term or the steady state rate of growth of output (SSGR) of selected East Asia countries viz., Singapore, Malaysia, Thailand, Hong Kong, Korea and the Philippines. Since SSGR is unobservable, its estimates are derived by estimating modified production functions and by imposing the equilibrium conditions of the Solow (1956) growth model. Panel cointegration tests showed that there is a well defined long run relation between output, trade ratio and capital. Growth accounting exercise showed that factor accumulation is the dominant contributor to the SSGR of this region. Openness of trade, however, has made a significant contribution to SSGR by 1999-2003.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 10663.
Date of creation: 20 Sep 2008
Date of revision:
Panel unit root and cointegration tests; Trade Openness; Total Factor Productivity and East Asian Countries;
Find related papers by JEL classification:
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East
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