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Panel data analysis of “Export-led” Growth Hypothesis in BIMP-EAGA Countries

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  • pazim, Khairul Hanim

Abstract

This paper uses panel data analysis to test the validity of the “export-led hypothesis” in three BIMP-EAGA countries (i.e. Indonesia, Malaysia, and the Philippines) by using panel data analysis. One-way random effects model leads to a conclusion that, there is no significant relationship between the size of national income and the amount of export for these countries. On the other hand, panel unit root tests imply that there is strong evidence of stationary process for both GDP and EX at the first differences. However, the panel co-integration test indicates there is no co-integrating relationship between export and development for these countries. As a conclusion, the export could be not seen as the “engine” of growth in these BIMP-EAGA. In other word, the empirical findings did not provide sufficient evident to support the “export-led hypothesis” in the area.

Suggested Citation

  • pazim, Khairul Hanim, 2009. "Panel data analysis of “Export-led” Growth Hypothesis in BIMP-EAGA Countries," MPRA Paper 13264, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:13264
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    File URL: https://mpra.ub.uni-muenchen.de/13264/1/MPRA_paper_13264.pdf
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    References listed on IDEAS

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    1. repec:ebl:ecbull:v:6:y:2007:i:38:p:1-14 is not listed on IDEAS
    2. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July.
    3. Hausmann, Ricardo & Rodrik, Dani, 2003. "Economic development as self-discovery," Journal of Development Economics, Elsevier, vol. 72(2), pages 603-633, December.
    4. Fumitaka Furuoka, 2007. "Do exports act as “engine” of growth? Evidence from Malaysia," Economics Bulletin, AccessEcon, vol. 6(38), pages 1-14.
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    Cited by:

    1. Ahdi N. Ajmi & Goodness C. Aye & Mehmet Balcilar & Rangan Gupta, 2015. "Causality between exports and economic growth in South Africa: evidence from linear and nonlinear tests," Journal of Developing Areas, Tennessee State University, College of Business, vol. 49(2), pages 163-181, April-Jun.
    2. Shahbaz, Muhammad & Rahman, Mizanur, 2011. "Impact of economic growth and financial development on exports: Cointegration and causality analysis in Pakistan," MPRA Paper 28563, University Library of Munich, Germany.
    3. repec:rss:jnljee:v4i1p6 is not listed on IDEAS
    4. P. K. Mishra, 2011. "The Dynamics of Relationship between exports and economic growth in India," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Eastern Macedonia and Thrace Institute of Technology (EMATTECH), Kavala, Greece, vol. 4(2), pages 53-70, August.
    5. Shahbaz, Muhammad & Mohammad, Mafizur Rahman, 2014. "The Dynamics of Exports, Financial Development and Economic Growth in Pakistan: New Extensions from Cointegration and Causality Analysis," MPRA Paper 53225, University Library of Munich, Germany, revised 19 Jan 2014.
    6. Shahzad, Syed Jawad Hussain & Rehman, Mobeen Ur & Abbasi, Faiza & Zakaria, Muhammad, 2014. "Relationship between Remittance, Export, Foreign Direct Investment and Growth: A Panel Cointegration and Causal Analysis in South Asia," MPRA Paper 60290, University Library of Munich, Germany.

    More about this item

    Keywords

    Export-led Growth hypothesis; BIMP-EAGA;

    JEL classification:

    • F10 - International Economics - - Trade - - - General

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