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Export-led Growth in South Asia: A Panel Cointegration Analysis

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  • Purna Chandra Parida
  • Pravakar Sahoo

Abstract

In this paper, we attempt to examine the export-led and manufacturing export-led growth hypothesis for four South Asian Countries; namely, India, Pakistan, Bangladesh and Sri Lanka, using Pedroni's panel cointegration technique for the period 1980-2002. In this context we estimate growth accounting equations to investigate the impact of exports, manufacturing exports and other important physical and human capital variables on both total GDP and non-export GDP. The study finds long-run equilibrium relationship between GDP (and non-export GDP) and exports along with other variables supporting export-led growth hypothesis. The results also substantiate the existence of manufacturing export-led growth hypothesis. Further, we find that export, fixed capital formation, public expenditure on health and education have statistically significant coefficients re-emphasizing the importance of these variables for higher economic growth.

Suggested Citation

  • 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.
  • Handle: RePEc:taf:intecj:v:21:y:2007:i:2:p:155-175
    DOI: 10.1080/10168730701345414
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    References listed on IDEAS

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    1. Paul Krugman, 1986. "Strategic Trade Policy and the New International Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262610450, January.
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    Cited by:

    1. repec:gam:jecomi:v:6:y:2018:i:2:p:22-:d:139116 is not listed on IDEAS
    2. Christian Dreger & Dierk Herzer, 2013. "A further examination of the export-led growth hypothesis," Empirical Economics, Springer, vol. 45(1), pages 39-60, August.
    3. elmakki, asma & Bakari, Sayef & MABROUKI, Mohamed, 2017. "The Nexus between Industrial Exports and Economic Growth in Tunisia: Empirical Analysis," MPRA Paper 79360, University Library of Munich, Germany.
    4. repec:blg:reveco:v:69:y:2017:i:4:p:53-67 is not listed on IDEAS
    5. Shafiullah, Muhammad & Selvanathan, Saroja & Naranpanawa, Athula, 2017. "The role of export composition in export-led growth in Australia and its regions," Economic Analysis and Policy, Elsevier, vol. 53(C), pages 62-76.
    6. Emirmahmutoglu, Furkan & Kose, Nezir, 2011. "Testing for Granger causality in heterogeneous mixed panels," Economic Modelling, Elsevier, vol. 28(3), pages 870-876, May.
    7. repec:dug:actaec:y:2016:i:5:p:266-278 is not listed on IDEAS
    8. Bildirici, Melike E. & Kayıkçı, Fazıl, 2012. "Economic growth and electricity consumption in former Soviet Republics," Energy Economics, Elsevier, vol. 34(3), pages 747-753.
    9. 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.
    10. Keshab Raj BHATTARAI, "undated". "Trade and Poverty in South Asia," EcoMod2010 259600027, EcoMod.
    11. Neena MALHOTRA & Deepika KUMARI, 2016. "Revisiting Export-Led Growth Hypothesis: An Empirical Study On South Asia," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 16(2), pages 157-168.
    12. Emine KILAVUZ & Betül ALTAY TOPCU, 2012. "Export and Economic Growth in the Case of the Manufacturing Industry: Panel Data Analysis of Developing Countries," International Journal of Economics and Financial Issues, Econjournals, vol. 2(2), pages 201-215.
    13. Jayanti Bhattacharjee & Sushil Kr. Haldar, 2015. "Economic Growth of Selected South Asian Countries: Does Institution Matter?," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(2), pages 356-370, February.
    14. repec:mir:mirbus:v:7:y:2017:i:12:p:1-9 is not listed on IDEAS

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