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Title: |
Export-led Growth in South Asia: A Panel Cointegration Analysis |
| Author: |
Parida, Purna Chandra; Sahoo, Pravakar |
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Affiliation: |
National Council of Applied Economic Research, New Delhi-2, India; Reserve Bank of India Unit, Delhi University, India |
| Source: |
International Economic Journal, June 2007, v. 21, no. 2, pp. 155-176 |
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Publication Date: |
June 2007 |
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Abstract: |
In this paper, we attempt to examine the export-led and manufacturing export-led growth hypothesis for four South Asian Countries; namely, India, Pakistan, Bangladesh and Sri Lanka, using Pedroni's panel cointegration technique for the period 1980-2002. In this context we estimate growth accounting equations to investigate the impact of exports, manufacturing exports and other important physical and human capital variables on both total GDP and non-export GDP. The sudy finds long-run equilibrium relationship between GDP (and non-export GDP) and exports along with other variables supporting export-led growth hypothesis. The results also substantiate the existence of manufacturing export-led growth hypothesis. Further, we find that export, fixed capital formation, public expenditure on health and education have statistically significan coefficients re-emphasizing the importance of these variables for higher economic growth. |
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