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Relationship of Foreign Trade and Economic Growth in Eurasian Economy: Panel Data Analysis

Nazife Ozge Kilic and Murat Beser

International Journal of Economics and Finance, 2017, vol. 9, issue 9, 1-7

Abstract: In this study, relationship between foreign trade and economic growth had been examined for the countries of Eurasia Economic Union by using data in era of 1992-2015 with the help of panel data analysis. First of all, cross-sectional dependency and homogeneity test had been done in the study and it had been concluded that there is cross-sectional dependency in between the series. For this purpose, unit root and causality test considering the cross-sectional dependency had been applied. Relationship between the variables had been analyzed with the panel causality test developed by Konya (2006). It had been determined that there is bi-directional causality from growth to export and unidirectional causality from growth to import.

Keywords: import; export; panel bootstrap causality test; Eurasian Economic Union; economic growth (search for similar items in EconPapers)
JEL-codes: R00 Z0 (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:ibn:ijefaa:v:9:y:2017:i:9:p:1-7