Export-Output Causality and the Role of Exports in Irish Growth: 1950-1997
Sources of Irish growth are examined using a recently developed Granger causality procedure with particular focus on the role of Irish exports. As augmented production function is employed where the inclusion of variables in addition to exports ensures that different impacts on exports and output are controlled for and thus, a more accurate testing of the export-led-growth hypothesis is possible. The most important sources of Irish growth are identified as the terms of trade and demand in industrial countries i.e. external sources. Bi-directional causality is found for exports and output implying a virtuous circle of growth and exports. [F1,F4]
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Volume (Year): 15 (2001)
Issue (Month): 3 ()
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