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Common and uncommon sources of growth in Asia Pacific

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  • Weber, Enzo

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 University Library of Munich, Germany in its series MPRA Paper with number 3715.

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Date of creation: Sep 2006
Date of revision: Jun 2007
Handle: RePEc:pra:mprapa:3715

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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," Japan and the World Economy, Elsevier, vol. 22(4), pages 219-227, December.
  2. Hideaki Hirata & Keisuke Otsu, 2011. "Accounting for the economic relationship between Japan and the Asian Tigers," Working Paper 164496, Harvard University OpenScholar.

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