Export-led Growth in South Asia: A Panel Cointegration Analysis

Purna Chandra Parida and Pravakar Sahoo

International Economic Journal, 2007, vol. 21, issue 2, pages 155-175

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 study 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 significant coefficients re-emphasizing the importance of these variables for higher economic growth.

Keywords: Exports; economic growth; South-Asia; panel cointegration (search for similar items in EconPapers)
Date: 2007

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