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Revisited Export-Led Growth Hypothesis For Selected European Countries: A Panel Hidden Cointegration Approach

Author

Listed:
  • Fatma Zeren

    () (Inonu University)

  • Burcu Kilinc Savrul

    () (Canakkale Onsekiz Mart University)

Abstract

This paper examines the export-led growth hypothesis in a panel of selected European countries from 1970 to 2011. For this purpose, a panel hidden cointegration test is used. Initially, cumulative negative and positive changes are constructed for each panel variable. Then the potential panel cointegration is examined. Our empirical results support that there is hidden cointegration in panel, thus we assert that there exists a long-term relationship between economic growth and exports.

Suggested Citation

  • Fatma Zeren & Burcu Kilinc Savrul, 2013. "Revisited Export-Led Growth Hypothesis For Selected European Countries: A Panel Hidden Cointegration Approach," Istanbul University Econometrics and Statistics e-Journal, Department of Econometrics, Faculty of Economics, Istanbul University, vol. 18(1), pages 134-151, May.
  • Handle: RePEc:ist:ancoec:v:18:y:2013:i:1:p:134-151
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    References listed on IDEAS

    as
    1. Furuoka, Fumitaka, 2009. "Econometric Analysis of the Export-led Growth Hypothesis: Evidence for BIMP-EAGA Countries," Philippine Journal of Development PJD 2007 Vol. XXXIV No. 2, Philippine Institute for Development Studies.
    2. Epaminondas Panas & George Vamvoukas, 2002. "Further evidence on the Export-Led Growth Hypothesis," Applied Economics Letters, Taylor & Francis Journals, vol. 9(11), pages 731-735.
    3. Purna Chandra Parida & Pravakar Sahoo, 2007. "Export-led Growth in South Asia: A Panel Cointegration Analysis," International Economic Journal, Taylor & Francis Journals, vol. 21(2), pages 155-175.
    4. Chee-Keong Choong & Siong-Hook Law & Zulkornain Yusop & Soo Siew Choo, 2005. "Export-led Growth Hypothesis in Malaysia: A Revisit," The IUP Journal of Monetary Economics, IUP Publications, vol. 0(4), pages 26-42, November.
    5. Tsangyao Chang & Beatrice D. Simo-Kengne & Rangan Gupta, 2013. "The Causal Relationship between House Prices and Economic Growth in the Nine Provinces of South Africa: Evidence from Panel-Granger Causality Tests," Working Papers 201317, University of Pretoria, Department of Economics.
    6. Kao, Chihwa, 1999. "Spurious regression and residual-based tests for cointegration in panel data," Journal of Econometrics, Elsevier, vol. 90(1), pages 1-44, May.
    7. Konya, Laszlo, 2006. "Exports and growth: Granger causality analysis on OECD countries with a panel data approach," Economic Modelling, Elsevier, vol. 23(6), pages 978-992, December.
    8. Galimberti, Jaqueson K., 2009. "Conditioned Export-Led Growth Hypothesis: A Panel Threshold Regressions Approach," MPRA Paper 13417, University Library of Munich, Germany.
    9. Bilgin, Cevat & Sahbaz, Ahmet, 2009. "Türkiye’de Büyüme ve İhracat Arasındaki Nedensellik İlişkileri
      [Causality Relations between Growth and Export in Turkey]
      ," MPRA Paper 21985, University Library of Munich, Germany, revised 2009.
    10. Titus Awokuse, 2006. "Export-led growth and the Japanese economy: evidence from VAR and directed acyclic graphs," Applied Economics, Taylor & Francis Journals, vol. 38(5), pages 593-602.
    11. Abdulnasser, Hatemi-J, 2011. "Hidden panel cointegration," MPRA Paper 31604, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Exports; Economic Growth; Panel Data; Hidden Cointegration;

    JEL classification:

    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration

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