How stable is the export-led growth hypothesis? evidence from Asia's four little dragons
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Dosyalar
Tarih
2015
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
ELSEVIER SCIENCE BV
Erişim Hakkı
info:eu-repo/semantics/closeAccess
Özet
This study re-investigates the export-led growth hypothesis for Asia's Four Little Dragons using cointegration and rolling causality analyses. Employing both bivariate (exports and GDP) and trivariate (exports, GDP and exchange rate) models, the study finds that exports and GDP are cointegrated for all the four economies, implying that there is a long run relationship between the variables. However, the rolling regression-based MWALD test shows that export-led growth in each of the four economies is not stable over their respective period of analysis. Instead of export, policymakers should start to search for alternative catalyst of growth to continuously as well as effectively promote long-term economic growth in the Four Little Dragon economies. (C) 2014 Elsevier B.V. All rights reserved.
Açıklama
WOS: 000347741600024
Anahtar Kelimeler
Asia's Four Little Dragons, Export-led Growth, Rolling MWALD Test
Kaynak
Economıc Modellıng
WoS Q Değeri
Q2
Scopus Q Değeri
Q1
Cilt
44
