390
Views
9
CrossRef citations to date
0
Altmetric
Original Articles

Exports and economic growth in Sub-Saharan Africa: New insights from innovative econometric methods

Pages 830-855 | Received 02 Apr 2017, Accepted 19 Mar 2018, Published online: 04 Apr 2018

References

  • Ahmad, J. , and S. Harnhirun . 1996. “Cointegration and Causality Between Exports and Economic Growth: Evidence from the ASEAN Countries.” Canadian Journal of Economics 29: S413–S416.
  • Akaike, H. 1974. “A New Look at the Statistical Model Identification.” IEEE Transactions on Automatic Control 19 (6): 716–723.
  • Awokuse, T. O. 2003. “Is the Export-Led Growth Hypothesis Valid for Canada?” Canadian Journal of Economics 36: 126–136.
  • Awokuse, T. O. , and D. K. Christopoulos . 2009. “Nonlinear Dynamics and the Exports–Output Growth Nexus.” Economic Modelling 26: 184–190.
  • Bahmani-Oskooee, M. , and J. Alse . 1993. “Export Growth and Economic Growth: An Application of Cointegration and Error-Correction Modelling.” Journal of Developing Areas 27: 535–542.
  • Bahmani-Oskooee, M. , C. Economidou , and G. G. Goswami . 2005. “Export Led Growth Hypothesis Revisited: A Panel Cointegration Approach.” Scientific Journal of Administrative Development 3: 40–55.
  • Bai, J. , and P. Perron . 1998. “Estimating and Testing Linear Models with Multiple Structural Changes.” Econometrica : Journal of the Econometric Society 66: 47–78.
  • Balassa, B. 1978. “Exports and Economic Growth: Further Evidence.” Journal of Development Economics 5: 181–189.
  • Ball, L. , D. Leigh , and P. Loungani . 2017. “Okun's Law: Fit at 50?” Journal of Money, Credit and Banking 49 (7): 1413–1441.
  • Banerjee, A. , R. L. Lumsdaine , and J. H. Stock . 1992. “Recursive and Sequential Tests of the Unit-Root and Trend-Break Hypotheses: Theory and International Evidence.” Journal of Business and Economic Statistics 10: 271–287.
  • Bartlett, M. S. 1955. An Introduction to Stochastic Processes with Special Reference to Methods and Applications . Cambridge: Cambridge University Press.
  • Belloumi, M. 2014. “The Relationship Between Trade, FDI and Economic Growth in Tunisia: An Application of the Autoregressive Distributed Lag Model.” Economic Systems 38: 269–287.
  • Bianchi, M. 1998. “Granger Causality in the Presence of Structural Break.” Bank of England Working Paper No 33.
  • Dickey, D. A. , and W. A. Fuller . 1979. “Distribution of the Estimators for Autoregressive Time Series with a Unit Root.” Journal of the American Statistical Association 74: 427–431.
  • Doan, T. 2015. “GRANGERBOOTSTRAP.RPF—Bootstrap for Granger Causality Test.” Accessed 16 March 2017. https://estima.com/forum/viewtopic.php?f=8&t=2323
  • Dodaro, S. 1993. “Exports and Growth: A Reconsideration of Causality.” Journal of Developing Areas 27: 227–244.
  • Doraisami, A. 1996. “Export Growth and Economic Growth: A Re-Examination of Some Time-Series Evidence of the Malaysian Experience.” Journal of Developing Areas 30: 223–230.
  • Dreger, C. , and D. Herzer . 2013. “A Further Examination of the Export-Led Growth Hypothesis.” Empirical Economics 45: 39–60.
  • Ekanayake, E. M. 1999. “Exports and Economic Growth in Asian Developing Countries: Cointegration and Error-Correction Models.” Journal of Economic Development 24: 43–56.
  • El-Sakka, M. I. , and N. H. Al-Mutairi . 2000. “Exports and Economic Growth: The Arab Experience.” Pakistan Development Review 39: 153–169.
  • Enders, W. , and J. Lee . 2012. “The Flexible Fourier Form and Dickey–Fuller Type Unit Root Tests.” Economics Letters 117: 196–199.
  • Fosu, A. K. 1990. “Exports and Economic Growth: The African Case.” World Development 18: 831–835.
  • Furuoka, F. 2016. “A New Approach to Testing Unemployment Hysteresis.” Empirical Economics doi:10.1007/s00181-016-1164-7.
  • Geweke, J. , R. Meese , and W. Dent . 1982. “Comparing Alternative Tests of Causality in Temporal Systems: Analytic Results and Experimental Evidence.” Journal of Econometrics 21: 161–194.
  • Giles, J. A. , and C. L. Williams . 2000a. “Export Led Growth: A Survey of the Empirical Literature and Some Non-Causality Results. Part 1.” Journal of International Trade & Economic Development 9: 261–337.
  • Giles, J. A. , and C. L. Williams . 2000b. “Export Led Growth: A Survey of the Empirical Literature and Some Non-Causality Results. Part 2.” Journal of International Trade & Economic Development 9: 445–470.
  • Gómez-Puig, M. , and S. Sosvilla-Rivero . 2013. “Granger-Causality in Peripheral EMU Public Debt Markets: A Dynamic Approach.” Journal of Banking and Finance 37: 4627–4649.
  • Granger, С . 1969. “Investigating Causal Relationship by Econometric Models and Cross-Spectral Methods.” Econometrica : Journal of the Econometric Society 37: 424–438.
  • Harvey A. C. 1981. The Econometric Analysis of Time Series . Oxford: Philip Allen.
  • Heller, P. S. , and R. C. Porter . 1978. “Exports and Growth: An Empirical Re-Investigation.” Journal of Development Economics 5: 191–193.
  • Hiemstra, C. , and J. D. Jones . 1994. “Testing for Linear and Nonlinear Granger Causality in the Stock Price–Volume Relation.” The Journal of Finance 49 (5): 1639–1664.
  • Jung, W. S. , and P. J. Marshall . 1985. “Exports, Growth and Causality in Developing Countries.” Journal of Development Economics 18: 1–12.
  • Konstantakopoulou, I. 2016. “New Evidence on the Export-Led-Growth Hypothesis in the Southern Euro-Zone Countries (1960–2014).” Economics Bulletin 36: 429–439.
  • Kwan, A. C. C. , and B. Kwok . 1995. “Exogeneity and the Export-Led Growth Hypothesis: The Case of China.” Southern Economic Journal 61: 1158–1166.
  • Lee, C. H. , and B. H. Huang . 2002. “The Relationship Between Exports and Economic Growth in East Asian Countries: A Multivariate Threshold Autoregressive Approach.” Journal of Economic Development 27: 45–68.
  • Li, Y. , and G. Shukur . 2011. “Linear and Nonlinear Causality Tests in an LSTAR Model: Wavelet Decomposition in a Nonlinear Environment.” Journal of Statistical Computation and Simulation 81 (12): 1913–1925.
  • Lim, S. Y. , and C. M. Ho . 2013. “Nonlinearity in ASEAN-5 Export-Led Growth Model: Empirical Evidence from Nonparametric Approach.” Economic Modelling 32: 136–145.
  • MacKinnon, J. G. 1996. “Numerical Distribution Functions for Unit Root and Cointegration Tests.” Journal of Applied Econometrics 11 (6): 601–618.
  • Menson, A. E. 2012. “Infrastructure, Export-Led Growth and Economic Development in Sub-Saharan Africa: An Empirical Analysis.” IUP Journal of Managerial Economics 10: 46–78.
  • Michaely, M. 1977. “Exports and Growth: An Empirical Investigation.” Journal of Development Economics 4: 49–54.
  • Naghdi, Y. , S. Kaghazian , and S. Ghavidel . 2011. “The Stability of Phillips Curve in Iran: Rolling Regression Analysis.” Australian Journal of Basic and Applied Sciences 5 (12): 1398–1401.
  • Narayan, P. K. , S. Narayan , B. S. Prasad , and A. Prasad . 2007. “Export-Led Growth Hypothesis: Evidence from Papua New Guinea and Fiji.” Journal of Economic Studies 34: 341–351.
  • Ndoricimpa, A. 2014. “Heterogeneous Panel Causality Between Exports and Growth in COMESA Countries.” Journal of Developing Areas 48: 349–361.
  • Ozturk, I. , and A. Acaravci . 2010. “Testing the Export-Led Growth Hypothesis: Empirical Evidence from Turkey.” Journal of Developing Areas 44: 245–254.
  • Perron, P. , and T. J. Vogelsang . 1992. “Non-Stationarity and Level Shifts with an Application to Purchasing Power Parity” Journal of Business and Economic Statistics 10: 301–320.
  • Rahman, M. , and M. Mustafa . 1997. “Dynamics of Real Exports and Real Economic Growths in 13 Selected Asian Countries.” Journal of Economic Development 22: 81–95.
  • Ram, R. 1985. “Exports and Economic Growth: Some Additional Evidence.” Economic Development and Cultural Change 33: 415–425.
  • Ram, R. 1987. “Exports and Economic Growth in Developing Countries: Evidence from Time-Series and Cross-Section Data.” Economic Development and Cultural Change 36: 51–72.
  • Rodrigues, P. M. M. , and A. M. R. Taylor . 2012. “The Flexible Fourier Form and Local Generalised Least Squares De-Trended Unit Root Tests.” Oxford Bulletin of Economics and Statistics 74: 736–759.
  • Salim, R. A. , and M. A. Hossain . 2011. “The Linkage Between Export and Income: Further Evidence from Bangladesh.” Singapore Economic Review 56: 79–95.
  • Schwarz, G. E. 1978. “Estimating the dimension of a model.” Annals of Statistics 6 (2): 461–464.
  • Shafiullah, M. , and R. Navaratnam . 2016. “Do Bangladesh and Sri Lanka Enjoy Export-Led Growth? A Comparison of Two Small South Asian Economies.” South Asia Economic Journal 17: 114–132.
  • Shen, C. H. , and L. R. Wang . 2001. “To Intervene or not to Intervene: Exchange Rate Responses to Capital Flows in Selected Asian Economies.” ASEAN Economic Bulletin 18 (1): 63–82.
  • Sims, C. 1972. “Money, Income and Causality.” American Economic Review 62: 540–552.
  • Smith, K. L. , J. Brocato , and J. E. Rogers . 1993. “Regularities in the Data Between Major Equity Markets: Evidence from Granger Causality Tests.” Applied Financial Economics 3: 55–60.
  • Studenmund, A. H. 2006. Using Econometrics: A Practical Guide . Singapore: Pearson International.
  • Swanson, N. R. 1998. “Money and Output Viewed Through a Rolling Window.” Journal of Monetary Economics 41: 455–473.
  • Tang, C. F. 2013. “A Revisitation of the Export-Led Growth Hypothesis in Malaysia Using the Leveraged Bootstrap Simulation and Rolling Causality Techniques.” Journal of Applied Statistics 40 (11): 2332–2340.
  • Tang, C. F. , Y. W. Lai , and I. Ozturk . 2015. “How Stable Is the Export-Led Growth Hypothesis? Evidence from Asia's Four Little Dragons.” Economic Modelling 44: 229–235.
  • Tang, K. L. 1998. “East Asian Newly Industrializing Countries: Economic Growth and Quality of Life.” Social Indicators Research 43: 69–96.
  • Tekin, R. B. 2012. “Economic Growth, Exports and Foreign Direct Investment in Least Developed Countries: A Panel Granger Causality Analysis.” Economic Modelling 29: 868–878.
  • Timmermann, A. 2008. “Elusive Return Predictability.” International Journal of Forecasting 24: 1–18.
  • Toda, H. Y. , and T. Yamamoto . 1995. “Statistical Inferences in Vector Autoregressions with Possibly Integrated Processes.” Journal of Econometrics 66: 225–250.
  • Tyler, W. G. 1981. “Growth and Export Expansion in Developing Countries.” Journal of Development Economics 9: 121–130.
  • Ukpolo, V. 1994. “Export Composition and Growth of Selected Low-Income Countries: Evidence from Time-Series Data.” Applied Economics 26: 445–449.
  • Ventosa-Santaulària, D. , and J. E. Vera-Valdés . 2008. “Granger-Causality in the Presence of Structural Breaks.” Economics Bulletin 3 (61): 1–14.
  • World Bank . 2017. “World Development Indicators.” Accessed 16 February 2017. http://databank.worldbank.org/data/reports.aspx?source=wdi-database-archives-%28beta%29
  • Zivot, E. , and D. W. K. Andrews . 1992. “Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis.” Journal of Business & Economic Statistics 10: 251–270.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.