The Relationship Between Exports And Economic Growth In East Asian Countries: A Multivariate Threshold Autoregressive Approach
During the process of economic development, different economic policies are adopted in accordance with particular circumstances. Therefore, conventional methods of time-series analysis may give misleading results if the problems associated with regime switches are not considered. The relationship between export growth and output growth is explored using a multivariate threshold model with regimes defined by the export-import ratio. In the cases of five countries that are recognized as being outward-oriented, we find that, except for Hong Kong, the relationship whereby exports lead output prevails in at least one regime for each of four of the countries being studied. The regime-based threshold autoregressive model thus appears to possess certain advantages over the more conventional linear autoregressive model.
Volume (Year): 27 (2002)
Issue (Month): 2 (December)
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- Michaely, Michael, 1977. "Exports and growth : An empirical investigation," Journal of Development Economics, Elsevier, vol. 4(1), pages 49-53, February.
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