1,050
Views
51
CrossRef citations to date
0
Altmetric
Original Articles

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

&
Pages 155-175 | Published online: 21 May 2007

References

  • Abhayaratne , A. S. P. 1996 . Foreign trade and economic growth: evidence from Sri Lanka, 1960–1992 . Applied Economic Letters , 3 : 567 – 570 .
  • Alam , M. I. 2003 . Manufactured exports, capital good imports, and economic growth: experience of Mexico and Brazil . International Economic Journal , 17 ( 4 ) : 85 – 105 .
  • Anwar , M. S. and Sampath , R. K. 2000 . Exports and economic growth . Indian Economic Journal , 47 ( 3 ) : 79 – 88 .
  • Awokuse , T. O. 2003 . Is the export-led growth hypothesis valid for Canada? . Canadian Journal of Economics , 36 ( 1 ) : 126 – 136 .
  • Bahmani-Oskooee , M. , Mohtadi , H. and Shabsign , G. 1991 . Exports, growth and causality in LDCs: a reexamination . Journal of Development Economics , 36 : 405 – 415 .
  • Balassa , B. 1978 . Exports and economic growth: further evidence . Journal of Development Economics , 5 ( 2 ) : 181 – 189 .
  • Baltagi , B. H. and Kao , C. 2000 . “ Nonstationary panels, cointegration in panels and dynamic panels: a survey ” . In Center for Policy Research , Syracuse University . Working Paper, No. 16
  • Barro , R. 1991 . Economic growth in a cross section of countries . Quarterly Journal of Economics , 106 ( 2 ) : 407 – 443 .
  • Barro , R. and Sala-i-Martin , X. 1995 . Economic Growth , New York : McGraw-Hill .
  • Bhagwati , J. N. 1978 . “ Anatomy and Consequences of Exchange Control Regimes, 1 ” . In Studies in International Economic Relations , Vol. 10 , New York : National Bureau of Economic Research .
  • Bhagawati , J. N. 1982 . Directly unproductive profit seeking (DUP) activities . Journal of Political Economy , 90 ( 5 ) : 988 – 1002 .
  • Bhagawati , J. N. 1988 . Export-promoting trade strategies: issues and evidence . The World Bank Research Observer , 3 ( 1 ) : 27 – 57 .
  • Bhat , S. K. 1995 . Export and economic growth in India . Artha Vijana , 37 ( 4 ) : 350 – 358 .
  • Dickey , D. and Fuller , W. 1981 . Likelihood ratio statistics for autoregressive time series with unit root . Econometrica , 30 : 167 – 182 .
  • Doganlar , M. 2004 . Export-led growth hypothesis in Asian countries: cointegration and causality analysis . Indian Journal of Economic , : 683 – 694 .
  • Dornbusch , R. 1992 . The case for trade liberalisation of the developing countries . Journal of Economic Literature , 31 : 1358 – 1393 .
  • Doyle , E. 1998 . Export-output causality: the Irish case, 1953–1993 . Atlantic Economic Journal , 26 ( 2 ) : 147 – 162 .
  • Edwards , S. 1998 . Openness, productivity and growth: what do we really know? . Economic Journal , 108 ( 2 ) : 383 – 398 .
  • Ekanayake , E. M. 1999 . Exports and economic growth in Asian developing countries: cointegration and error-correction models . Journal of Economic Development , 24 ( 2 ) : 43 – 56 .
  • Emery , R. 1967 . The relation of exports and economic growth . Kyklos , 20 : 470 – 484 .
  • Engle , R. F. and Granger , C. W. J. 1987 . Cointegration and error correction: representation, estimation and testing . Econometrica , 55 ( 2 ) : 251 – 276 .
  • Feder , G. 1983 . On exports and economic growth . Journal of Development Economics , 12 ( 2 ) : 59 – 73 .
  • Frank , A. G. 1969 . Latin America: underdevelopment or revolution? . New York Monthly Review Press ,
  • Ghatak , S. and Wheatley , S. P. 1997 . Export composition and economic growth: cointegration and causality evidence for India . Review of World Economics , 133 ( 3 ) : 538 – 553 .
  • Ghatak , S. , Milner , C. and Utkulu , U. 1997 . Exports, export composition and growth: coitegration and causality evidence for Malaysia . Applied Economics , 29 ( 2 ) : 213 – 223 .
  • Grossman , G. M. and Helpman , E. 1990 . Comparative advantage and long-run growth . American Economic Review , 80 : 796 – 815 .
  • Harris , D. and Inder , B. 1994 . “ A test of the null hypothesis of cointegration ” . In Non-Stationary Time Series Analysis and Cointegration , Edited by: Hargreaves , C. New York : Oxford University Press .
  • Heller , P. S. and Porter , R. C. 1978 . Exports and growth: an empirical re-investigation . Journal of Development Economics , 5 ( 2 ) : 191 – 193 .
  • Hossain , M. A. and Karunaratne , N. D. 2001 . “ On export-led growth: is manufacturing exports a new engine of growth for Bangladesh? ” . In Discussion Paper , Brisbane : The University of Queensland . No. 297
  • Im , K. S. , Pesaran , M. H. and Shin , Y. 1997 . Testing for unit roots in heterogeneous panels . University of Cambridge, Department of Applied Economics , Working Paper No. 9526
  • Islam , M. N. 1998 . Exports expansion and economic growth: testing for cointegration and causality . Applied Economics , 30 ( 3 ) : 415 – 425 .
  • Jones , L. E. and Manuelli , R. E. 1990 . A convex model of equilibrium growth: theory and policy implications . Journal of Political Economy , 98 : 1008 – 1038 .
  • Jung , W. and Marshall , P. 1985 . Exports, growth and causality in developing countries . Journal of Development Economics , 18 : 1 – 12 .
  • Karunaratne , N. D. 1994 . Growth and trade liberalisation in Australia-A VAR analysis, Rivista Internazionale Di Scienze Economiche E commercialli, XLI . : 625 – 651 .
  • Khan , A. H. and Saqib , N. 1993 . Exports and economic growth: the Pakistan experience . International Economic Journal , 7 ( 3 ) : 53 – 64 .
  • Kravis , I. B. 1970 . Trade as a hand maiden of growth: similarities between the nineteenth and twentieth centuries . Economic Journal , 80 ( 320 ) : 850 – 872 .
  • Kao , C. 1990 . Spurious regression and residual based tests for cointegration in panel data when the cross-section and time series dimensions are comparable . Journal of Econometrics , 90 : 1 – 14 .
  • Krueger , A. O. 1978 . Foreign Trade Regimes and Economic Development: Liberalization Attempts and Consequences , Cambridge, MA : Ballinger .
  • Kruger , A. O. 1975 . The Benefits and Costs of Import Substitution in India: A Microeconomic Study , Minneapolis : University of Minnesota Press .
  • Kruger , A. O. 1997 . Trade policy and economic development: how we learn . American Economic Review , 87 ( 1 ) : 1 – 22 .
  • Kruger , A. O. 1998 . Why trade liberalisation is good for growth? . The Economic Journal , 108 : 513 – 522 .
  • Krugman , P. R. 1986 . “ New thinking about trade policy ” . In Strategic Trade Policy and the New International Economics , Edited by: Krugman , P. R. 1 – 22 . Cambridge, MA : MIT Press .
  • Kwiatowski , D. , Phillips , P. C. B. , Schmidt , P. and Shin , Y. 1992 . Testing the null hypothesis of stationarity against the alternative of a unit root . Journal of Econometrics , 54 : 91 – 115 .
  • Levin , A. and Lin , C. F. 1992 . “ Unit root tests in panel data: asymptotic and finite sample properties ” . San Diego : University of California . Discussion Paper No: 92–93
  • Levin , A. and Lin , C. F. 1993 . “ Unit root tests in panel data: new results ” . San Diego : University of California . Discussion Paper No 93–56
  • Levine , R. and Renelt , D. 1992 . A sensitivity analysis of cross-country growth regressions . American Economic Review , 82 ( 4 ) : 942 – 963 .
  • Lussier , M. 1993 . Impacts of exports on economic performance: a comparative study . Journal of African Economies , 2 ( 1 ) : 106 – 127 .
  • Maddala , G. S. and Kim , I.-M. 1998 . Unit Roots, Cointegration and Structural Change , Cambridge, , UK : Cambridge University Press .
  • Maizels , A. 1968 . Exports and the Economic Growth of Developing Countries , Cambridge University Press .
  • Marin , D. 1992 . Is the export-led growth hypothesis valid for industrialised countries . Review of Economics and Statistics , 74 : 678 – 688 .
  • McCoskey , S. and Kao , C. 1998 . A residual-based test for the null of cointegration in panel data . Econometric Reviews , 17 : 57 – 84 .
  • Medina-Smith , E. J. 2001 . Is the export-led growth hypothesis valid for developing countries? A case study of Costa Rica . Policy Issues in International Trade and Commodities Study Series , : 7
  • Michaely , M. 1977 . Exports and growth: an empirical investigation . Journal of Development Economics , 4 ( 1 ) : 49 – 53 .
  • Mollik , A. T. 1996 . Export led growth and causality in Bangladesh . Asian Economic Review , 38 ( 2 ) : 297 – 307 .
  • Mutairi , N. A. 1993 . Exports and Pakistan’s economic development . Pakistan Economic and Social Review , 31 ( 2 ) : 134 – 146 .
  • Nandi , S. 1991 . Export and economic growth in India: empirical evidence . Indian Economic Journal , 38 ( 3 ) : 53 – 59 .
  • Nataraj , G. , Sahoo , P. and Kamaih , B. 2001 . Export-led growth in India: WHAT do VARs reveal? . Indian Journal of Economics , 52 ( 324 )
  • Oh , K. Y. 1996 . PPP and unit root tests using panel data . Journal of International Money & Finance , 15 ( 3 ) : 405 – 418 .
  • Pedroni , P. 1995 . Panel cointegration, asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis . Indiana University ,
  • Pedroni , P. 1997 . Panel cointegration, asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis. New results . Indiana University. ,
  • Pedroni , P. 1999 . Critical Values for cointegration tests in heterogenous panels with multiple regressors . Oxford Bulletin of Economics and Statistics , 61 : 653 – 670 .
  • Pedroni , P. 2000 . Fully modified OLS for hetrogeneous cointegration panels . Advances in Econometrics , 15 : 93 – 130 .
  • Prebisch , R. 1970 . “ Towards a new trade policy for development. Report by Secretary General UNCTAD, United Nations, 1964 ” . In Leading Issues in Economic Development: Studies in International Poverty , 2nd edn , Edited by: Meier , G. M. New York : Oxford University Press .
  • Rahman , M. and Mustafa , M. 1998 . Dynamics of real exports and real economic growth in 13 selected Asian countries . Journal of Economic Development , 22 ( 2 ) : 81 – 95 .
  • Ram , R. 1985 . Exports and economic growth: some additional evidence . Economic Development and Cultural Change , 33 ( 2 ) : 415 – 425 .
  • Rana , P. B. 1985 . Exports and economic growth in the Asian region . ADB Economic Staff Paper No. 25 ,
  • Rana , P. B. and Dowling , J. M. 1990 . Foreign capital and Asian economic growth . Asian Development Review , 8 ( 2 ) : 77 – 102 .
  • Rebelo , S. 1991 . Long-run policy analysis and long-run growth . Journal of Political Economy , 99 : 500 – 521 .
  • Reidel , J. 1993 . Vietnam: on the trail of tigers . World Economy , 16 ( 4 ) : 401 – 423 .
  • Segerstrom , P. S. , Anant , T. C. A. and Dinopoulos , E. 1990 . A Schumpeterian model of the product life cycle . American Economic Review , 80 : 1077 – 1091 .
  • Shan , J. and Sun , F. 1998 . On the export-led growth hypothesis for the little dragons: an empirical reinvestigation . Atlantic Economic Journal , 26 ( 4 ) : 353 – 371 .
  • Shin , Y. 1994 . A residual-based test of the null of cointegration against the alternative of no cointegration . Econometric Theory , 19 : 91 – 115 .
  • Srinivasan , T. N. 1985 . Neoclassical political economy, the state and economic development . Asian Development Review , 3 ( 4 ) : 38 – 58 .
  • Sung-Shen , N. , Biswas , B. and Tribedy , G. 1990 . Causality between exports and economic growth: an empirical study . Journal of Economic Development , 9 ( 1 ) : 121 – 130 .
  • Tayler , W. G. 1981 . Growth and export expansion in developing countries: some empirical evidence . Journal of Development Economics , 9 ( 1 ) : 121 – 130 .
  • Vernon , R. 1966 . International investment and international trade in the product cycle . Quarterly Journal of Economics , 80 : 290 – 307 .
  • Williamson , R. B. 1978 . The role of exports and foreign capital in Latin American economic growth . Southern Economic Journal , 45 ( 2 ) : 410 – 420 .
  • Wu , Y. 1996 . Are real exchange rates nonstationary? Evidence from a panel data test . Journal of Money, Credit and Banking , 28 ( 1 ) : 54 – 63 .
  • Xu , Z. 1996 . On the causality between export growth and GDP growth: an empirical re-investigation . Review of International Economics , 4 ( 2 ) : 172 – 184 .

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.