Exports and Economic Growth in ASEAN Countries: Evidence from Panel Data Analysis

Fumitaka Furuoka

The IUP Journal of Applied Economics, 2009, vol. VIII, issue 2, 7-16

Abstract: : This study employs panel data analysis to examine the relationship between exports and economic growth in five ASEAN (Association of South East Asian Nations) countries (i.e., Malaysia, Indonesia, the Philippines, Singapore and Thailand). Three separate methods have been used: (1) Pooled Ordinary Least Squares (OLS), (2) One-way fixed/random effects, and (3) Two-way fixed/random effects. Empirical results show that the one-way fixed effects analysis is the best model among all the models. As the one-way fixed effects model shows, there exists a significant positive relationship between exports and economic growth in the five ASEAN nations. Panel cointegration test, however, implies that there is no cointegrating relationship between these two variables.

Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:icf:icfjae:v:08:y:2009:i:2:p:7-16

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