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Trade In Goods And Services And Its Effect On Economic Growth –The Case Of Jordan

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  • SANDRI, Serena
  • ALSHYAB, Nooh
  • GHAZO, Abdullah

Abstract

International trade is steadily increasing and one of its recent trends is the increase in the volume of trade in services. Nevertheless, the growth effects of trade in services have been insufficiently explored. Therefore, the aim of this study is to investigate empirically the specific growth contribution of the trade in goods and services in Jordan for the period 1980-2014. The model is estimated using the Fully Modified Ordinary Least Squares approach, which corrects for endogeneity of data and serial correlation. The results of the estimated regression are in tune with the economic theory. In particular, it emerges that trade in goods has a negative effect on GDP in Jordan, whereas trade in services positively affects economic performance.

Suggested Citation

  • SANDRI, Serena & ALSHYAB, Nooh & GHAZO, Abdullah, 2016. "Trade In Goods And Services And Its Effect On Economic Growth –The Case Of Jordan," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 16(2), pages 113-128.
    • Handle: RePEc:eaa:aeinde:v:16:y:2016:i:2_9
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    References listed on IDEAS

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    1. Hosoe, Nobuhiro, 2001. "A general equilibrium analysis of Jordan's trade liberalization," Journal of Policy Modeling, Elsevier, vol. 23(6), pages 595-600, August.
    2. GUISAN, Maria-Carmen, 2015. "Selected Readings On Econometrics Methodology, 2001-2010: Causality, Measure Of Variables, Dynamic Models And Economic Approaches To Growth And Development," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 15(2), pages 213-220.
    3. Hong, Seung Hyun & Wagner, Martin, 2011. "Cointegrating Polynomial Regressions," Economics Series 264, Institute for Advanced Studies.
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    2. Michel Lioussis & Mònica Serrano, 2022. "Services trade contribution on global income generation (2000 - 2014) Abstract: This paper investigates the contribution of services trade to the variation of global income generation for the period o," UB School of Economics Working Papers 2022/423, University of Barcelona School of Economics.
    3. Muhammad Afzal & Sheikh Shoaib Ahmed & Muhammad Waseem Shahzad, 2019. "Impact of Merchandize and Services Trade on Economic Growth of Pakistan," Journal of Contemporary Research in Business, Economics and Finance, Michael Laurence, vol. 1(2), pages 30-36.
    4. Maite CANCELO & Emilia VAZQUEZ-ROZAS, 2020. "Las Exportaciones Como Fuente De Crecimiento Económico: Un Modelo Econométrico Para Galicia 2002-2019," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 20(1), pages 111-124.
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    6. Saqib Amin & Nawaz Ahmad & Asim Iqbal & Ghulam Mustafa, 2021. "Asymmetric analysis of environment, ethnic diversity, and international trade nexus: empirical evidence from Pakistan," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(8), pages 12527-12549, August.

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    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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