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Common and Uncommon Sources of Growth in Asia Pacific

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  • Enzo Weber

Abstract

This paper embarks to analyse the role of exports and investment supposed to be major sources of economic growth in Asia Pacific. Therefore at first, the cointegration properties of exports, capital formation and GDP are examined in vector error correction models (VECMs). The results confirm the crucial role of exports and investment in the Asian growth dynamics. In a second stage, the structural shocks are identified by short- and long-run restrictions. These shocks, as well as the corresponding dynamic responses, are then correlated across all sample countries to provide insight into the depth of regional coherence. At last, the identified trends are explained by various macroeconomic variables.

Suggested Citation

  • Enzo Weber, 2006. "Common and Uncommon Sources of Growth in Asia Pacific," SFB 649 Discussion Papers SFB649DP2006-064, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
  • Handle: RePEc:hum:wpaper:sfb649dp2006-064
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    References listed on IDEAS

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    Cited by:

    1. Manuk Ghazanchyan & Janet Gale Stotsky & Qianqian Zhang, 2015. "A New Look at the Determinants of Growth in Asian Countries," IMF Working Papers 15/195, International Monetary Fund.
    2. Nagayasu, Jun, 2010. "Macroeconomic interdependence in East Asia," Japan and the World Economy, Elsevier, vol. 22(4), pages 219-227, December.
    3. Nordmeier, Daniela & Schmerer, Hans-Jörg & Weber, Enzo, 2016. "Trade and labor market dynamics: What do we learn from the data?," Economics Letters, Elsevier, vol. 145(C), pages 206-209.
    4. Hirata, Hideaki & Otsu, Keisuke, 2016. "Accounting for the economic relationship between Japan and the Asian Tigers," Journal of the Japanese and International Economies, Elsevier, pages 57-68.
    5. Weber, Enzo, 2011. "Foreign and domestic growth drivers in Eastern Europe," Economic Systems, Elsevier, vol. 35(4), pages 512-522.

    More about this item

    Keywords

    Economic Growth; Structural VECM; Export; Investment; Asia Pacific;

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • F15 - International Economics - - Trade - - - Economic Integration
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

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