Export-Led growth hypothesis: Evidence from Cote d’Ivoire
This paper re-examine the export-led growth hypothesis for Cote d’Ivoire using the Bounds test analysis: unrestricted error correction model (UECM) for the period 1980-2007. Based on the model, exports, labor force and economic liberalization policies have stimulated economic growth, whereas, imports and exchange rate negatively impacted on economic growth. The results indicate that there exists a long-term relationship between economic growth and its determinants in our model. In addition, the VAR Granger/Block-exogeneity Wald tests reveal an evidence of bi-directional causality between exports and economic growth. Thus findings have important messages for policy makers given that export sector dominance in Cote d’Ivoire economy.
|Date of creation:||29 May 2010|
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- Kwiatkowski, D. & Phillips, P.C.B. & Schmidt, P., 1990.
"Testing the Null Hypothesis of Stationarity Against the Alternative of Unit Root : How Sure are we that Economic Time Series have a Unit Root?,"
8905, Michigan State - Econometrics and Economic Theory.
- Kwiatkowski, Denis & Phillips, Peter C. B. & Schmidt, Peter & Shin, Yongcheol, 1992. "Testing the null hypothesis of stationarity against the alternative of a unit root : How sure are we that economic time series have a unit root?," Journal of Econometrics, Elsevier, vol. 54(1-3), pages 159-178.
- Denis Kwiatkowski & Peter C.B. Phillips & Peter Schmidt, 1991. "Testing the Null Hypothesis of Stationarity Against the Alternative of a Unit Root: How Sure Are We That Economic Time Series Have a Unit Root?," Cowles Foundation Discussion Papers 979, Cowles Foundation for Research in Economics, Yale University.
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