Export-Total Factor Productivity Growth Nexus in East Asian Economies

Hailin Liao () and Xiaohui Liu ()
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Xiaohui Liu: Business School, Loughborough University

Discussion Paper Series from Department of Economics, Loughborough University

Abstract: Despite increasing interest in the relationship between trade and macroeconomic performance in development economics, very limited studies have been conducted on the causal links between exports and productivity growth in Asian economies. This paper examines empirically the interplay between exports and productivity growth for eight East Asian economies in a multivariate framework by applying bound tests and modified Wald tests. The results indicate that causality is bi-directional in the case of Korea, Singapore and Taiwan, while unidirectional from productivity to exports for Mainland China, Hong Kong, Indonesia, Malaysia and the Philippines. These findings provide little support for the conventional export-led growth hypothesis.

Keywords: TFP; exports; bound tests; lag-augmented VAR; East Asian economies (search for similar items in EconPapers)
Date: 2007-11, Revised 2007-11
New Economics Papers: this item is included in nep-cna, nep-eff, nep-int and nep-sea
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