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Author: Md. Zulquar Nain
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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This paper seeks to re-examine the export-led growth hypothesis in India using the quarterly data for the period 1996 to 2009. It uses Granger causality test (Toda and Yamamoto, 1995) and forecast error variance decomposition (within VAR framework) to investigate the interrelationship among exports, imports, real effective exchange rate, and economic growth in the short run as well as long run. The results of the study do not support the export-led growth hypothesis, rather it supports the growth-led export hypothesis.
Author: Md. Zulquar Nain
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
This paper seeks to re-examine the export-led growth hypothesis in India using the quarterly data for the period 1996 to 2009. It uses Granger causality test (Toda and Yamamoto, 1995) and forecast error variance decomposition (within VAR framework) to investigate the interrelationship among exports, imports, real effective exchange rate, and economic growth in the short run as well as long run. The results of the study do not support the export-led growth hypothesis, rather it supports the growth-led export hypothesis.
Author: Jighyasu Gaur
Publisher:
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Category :
Languages : en
Pages : 0
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The export-led growth and growth-driven exports are two different views which has been a debate in literature for so long. On one hand the scholars like Michaely (1977), Feder (1982) support Export-led growth and on the other hand we have scholars like Bhagwati (1978), and Kunst & Marin (1989) who talk about growth-driven exports. Several researches have been conducted on these hypotheses taking different countries under study. This paper aims to investigate the export-led hypothesis for India the second largest economy of Asia. The study also intends to do a comparative analysis of GDP growth in pre and post liberalization era which has not been explored before. Granger's causality test has been used to test ELG hypothesis and Dummy variable regression has been used to compare whether there is any structural change exist between pre- and post-liberalization era. The Granger's causality test results show that causality runs one way from Exports to GDP which supports exports-led growth. Dummy variable regression results suggest that there exists a structural change between pre- and post-liberalization era.
Author: Ramesh Chandra
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Author: Abhijit Sharma
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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The relationship between exports and economic growth has been analysed by a number of recent empirical studies. This paper re-examines the sources of growth for the period 1971-2001 for India. It builds upon Feder's (1983) model to investigate empirically the relationship between export growth and GDP growth (the export led growth hypothesis), using recent data from the Reserve Bank of India, and by focusing on GDP growth and GDP growth net of exports. We investigate the following hypotheses: (i) whether exports, imports and GDP are cointegrated using the Johansen approach and Breitung's nonparametric cointegration test; (ii) whether export growth Granger causes GDP growth; (iii) and whether export growth Granger causes investment. Finally, a VAR is constructed and impulse response functions (IRFs) are employed to investigate the effects of macroeconomic shocks.
Author: Lilian Okpeku
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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The export-led growth hypothesis states a positive relationship between the growth of exports and long-run economic growth. This study examines the validity of the export-led growth hypothesis of services exports in 5 emerging economies, including Brazil, India, Nigeria, China, and South Africa (BINCS), for the period of 1980-2019. The study employs the panel mean group autoregressive distributed lag (ARDL) procedure to identify a causal relationship between services exports and gross domestic product (GDP) per capita. The findings show that the export-led growth hypothesis in services only has a positive effect on economic growth in the short run while other variables, including foreign direct investment (FDI), gross capital formation, and labour, increase economic growth in the long run. Hence, the emerging countries should focus more on internal investment to boost growth in the long and short run.
Author: Vijay Kumar
Publisher:
ISBN:
Category :
Languages : en
Pages : 23
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Book Description
The purpose of this research study is to shed light on the causal relationship between foreign trade and economic growth in India. This study analyzes Export-led growth (ELG) and Import-led growth (ILG) hypothesis in India. The author does so by analyzing the yearly data of Export, Import and Gross domestic product of India between 1980 and 2016. The author employed augmented Dickey-Fuller method and Phillip-Perron method to transform the all the data series into a stationary form. The author finds that all three variables i.e. Export, Import and Gross domestic product are highly positively correlated to each other. The result of Johansen co-integration test indicates cointegration and long-haul relationship among the variables. The result of the Granger causality and Toda-Yamamoto causality test shows unidirectional causal relationship between export and economic growth; the one-way causation exists between import and economic growth while economic growth causes export and import in India. The result of the impulse response function indicates that a change in the GDP is due to its own shocks whereas the impact of export shows certain effect on GDP. The analysis of the variance decomposition demonstrated that only 28.25% fluctuations in the GDP were explained due to its own shocks. Thus the outcome of the study indicates importance of export and import for economic growth is significance and foreign trade is heavily relied on economic growth of the country.
Author: Emilio J. Medina-Smith
Publisher: United Nations Conference on Trade and Development
ISBN:
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
The export-led growth hypothesis (ELGH) postulates that export growth is one of the determinants of economic growth. This study tests the hypothesis by examining the economy of Costa Rica, using data going back to 1950. It found that although exports had a positive effect on growth, their impact was relatively. It thus challenges some of the empirical literature on ELGH and expresses doubts about using exports as a comprehensive development strategy.
Author:
Publisher: Universal-Publishers
ISBN: 1612335403
Category :
Languages : en
Pages : 109
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Author: Gershon Feder
Publisher: World Bank Publications
ISBN: 9780686397656
Category : Commerce
Languages : en
Pages : 24
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Author: Geethanjali Nataraj
Publisher:
ISBN: 9788177910407
Category : Economic development
Languages : en
Pages : 20
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