Economic Growth, Financial and Trade Globalization in the Philippines: A Vector Autoregressive Analysis

Roperto Deluna and Antiquisa Chelly

MPRA Paper from University Library of Munich, Germany

Abstract: This study was conducted to examine the relationship among Economic Growth, Financial and trade Globalization in the Philippines from 1980 to 2011. The study used the Vector Autoregressive VAR (1) model and Granger Causality test. It was found out that the current value of GDP is positively affected by the previous value of itself and trade openness. The estimation results suggested that growth in trade volumes accelerate economic growth. However, financial openness has no significant effect on the current value of GDP. This implies that the level of openness of the Philippine economy is not sufficient to obtain the potential benefits of financial globalization in enhancing economic growth.

Keywords: VAR; Globalization; Economic Growth; Development (search for similar items in EconPapers)
JEL-codes: C32 O1 O11 O4 (search for similar items in EconPapers)
Date: 2014-08
New Economics Papers: this item is included in nep-fdg, nep-gro and nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:60206

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