Export growth and economic growth: A reexamination of some time-series evidence of the Malaysian experience

Journal of Developing Areas

Volumn 30, Issue 2, 1996, Pages 223-230

  Doraisami, Anita ^a  

^a MONASH UNIVERSITY   (Australia)

Author keywords

[No Author keywords available]

Indexed keywords

DEVELOPING COUNTRY; ECONOMIC DEVELOPMENT; EXPORT GROWTH; TIME-SERIES ANALYSIS;

MALAYSIA;

EID: 0030464455     PISSN: 0022037X     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (31)

1. Nicholas Kaldor, Strategic Factors in Economic Development (Ithaca, NY: Cornell University Press, 1967).
2. Anne O. Krueger, "Asian Trade and Growth Lessons," American Economic Review 80 (May 1990): 108-11.
3. Santo Dodaro, in "Exports and Growth: A Reconsideration of Causality," Journal of Developing Areas 27 (January 1993): 227-44, concludes (p. 238) that for the Malaysian case exports growth has a perverse effect on GDP growth;
4. while Mohsen Bahmani-Oskooee and Janardhanan Alse, in "Export Growth and Economic Growth: An Application of Co-integration and Error-Correction Modeling," Journal of Developing Areas 27 (July 1993): 535-42, find that for Malaysia export growth and economic growth are not co-integrated (p. 539).
5. Bela Balassa, "Exports and Economic Growth: Further Evidence," Journal of Development Economics 5 (June 1978): 181-89;
6. Robert F. Emery, "The Relation of Exports and Economics Growth," Kyklos 20, no. 2 (1967): 470-86;
7. Olufemi Fajana, "Trade and Growth: The Nigerian Experience," World Development 7 (January 1979): 73-78;
8. Gershon Feder, "On Exports and Economic Growth," Journal of Development Economics 12 (February/April 1982): 59-73;
9. Alfred Maizels, Exports and Economic Growth of Developing Countries (London: Cambridge University Press, 1968);
10. Michael Michaely, "Exports and Growth: An Empirical Investigation," Journal of Development Economics 4 (March 1977): 49-53;
11. William Tyler, "Growth and Export Expansion in Developing Countries: Some Empirical Evidence," Journal of Development Economics 9 (August 1981): 121-30;
12. Constantin S. Voivodas, "Exports, Foreign Capital Inflow, and Economic Growth," Journal of International Economics 3 (November 1973): 337-49;
13. and Robert B. Williamson, "The Role of Exports and Foreign Capital in Latin American Economic Growth," Southern Economic Journal 45 (October 1978): 410-20.
14. Woo S. Jung and Peyton J. Marshall, "Exports, Growth, and Causality in Developing Countries," Journal of Development Economics 18 (May June 1985): 1-12.
15. Mohsen Bahmani-Oskooee, Hamid Mohtad, and Ghiath Shabsigh, "Exports, Growth, and Causality in LDCs: A Re-examination," Journal of Development Economics 36 (October 1991): 405-15.
16. Ali Darrat, "Trade and Development: The Asian Experience," Cato Journal 6 (Fall 1986): 695-99.
17. Mei-Chu W. Hsiao, "Tests of Causality and Exogeneity between Export Growth and Economic Growth," Journal of Economic Development 12 (December 1987): 143-59.
18. Dodaro, "Exports and Growth."
19. Peter C. Y. Chow, "Causality between Exports Growth and Industrial Development," Journal of Development Economics 26 (June 1987): 55-63.
20. Bahmani-Oskooee and Alse, "Export Growth and Economic Growth."
21. Clive W. J. Granger, "Some Recent Developments in a Concept of Causality "Journal of Econometrics 39 (September October 1988): 199-211.
22. In spite of the fact that the publication is referred to as a quarterly bulletin, quarterly information was not available. It was not possible to interpolate quarterly data series from annual data owing to the lack of a credible variable for this time period.
23. Clive W. J. Granger, "Developments in the Study of Co-integrated Variables," Oxford Bulletin of Economics and Statistics 48 (August 1986): 213-28.
24. Robert F. Engle and Clive W. J. Granger, "Co-integration and Error Correction: Representation Estimation and Testing," Econometrica 55 (March 1987): 251-76.
25. The value of A: in this paper was chosen by the lowest number of lags that resulted in no autocorrelation. This was due to the importance of preserving degrees of freedom given the short period under consideration.
26. Wayne A. Fuller, Introduction to Statistical Time Series (New York: John Wiley, 1976), p. 373.
27. Engle and Granger, "Co-integration and Error Correction."
28. Granger, "Some Recent Development in a Concept of Causality."
29. Engle and Granger, "Co-integration and Error Correction," p. 269.
30. Given the limited data employed for the analysis, the evidence is suggestive rather than conclusive. Further research encompassing different sample periods and data sets would assist in establishing the robustness of the result.
31. This study implies bi-directional causality between export growth and output growth for all nine countries examined by Bahmani-Oskooee and Alse, "Export Growth and Economic Growth."