New Evidence on the Export-led Growth Nexus: A Case Study of Malaysia
This paper revisits the highly debated export-led growth hypothesis in a number of different ways using Malaysia as a case study. First, the hypothesis is tested in terms of labour and total factor productivity growth as a potential channel via which exports can affect or be affected by GDP growth. Considering the impact of imports on GDP and productivity growth serves a similar purpose. In addition, GDP is trade-adjusted to avoid the double-counting problem arising from the national income identity. Second, the relationships are examined using the relatively recent Toda and Yamamoto (1995 ) causality tests. These results have major implications and are necessary to reassess the effectiveness of trade policy as a strategy for economic development. Copyright 2007 The Author Journal compilation 2007 Blackwell Publishing Ltd .
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Volume (Year): 30 (2007)
Issue (Month): 7 (07)
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