Export-Led Growth Hypothesis in Developing Countries

Zulkornain Yusop, Shahrun Nizam bin Abdul Aziz and Chee-Keong Choong

The IUP Journal of Financial Economics, 2007, vol. V, issue 3, 64-77

Abstract: The relationship between exports and economic growth has been fully analyzed by a large number of recent empirical papers. Nevertheless, the evidence is rather mixed. This study re-examines the Export-Led Growth hypothesis (ELG) in four developing countries, namely India, Malaysia, Nigeria and the Philippines using Johansen Multivariate cointegration approach and Vector Error Correction Model (VECM). The results suggest that the ELG hypothesis is valid for Indian and Malaysian economies in both short and long-run. Besides, our results indicate that the growth rate of imports and government expenditure have a positive impact on economic growth for both countries.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:icf:icfjfe:v:05:y:2007:i:3:p:64-77

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