AIR-TRANSPORT AND MACROECONOMIC PERFORMANCE IN ASIAN COUNTRIES: An Analysis

Bilal Mehmood, Muhammad Aleem and Nabeel Shahzad

Pakistan Journal of Applied Economics, 2015, vol. 25, issue 2, 179-192

Abstract: Factors of growth have always been the attention of development economists. This research work investigates the role of air-transport in macroeconomic performance of Asian countries from 1970 to 2014. For this, we resort to econometric techniques, such as Pesaran Cross-Sectional Dependence Test, Cross-Sectional Augmented IPS, Mean Group (MG), Common Correlated Effect Mean Group (CCEMG), Augmented Mean Group (AMG), and Panel Granger Causality. Empirical results confirm the hypothesis that air- transport has a significant role in economic growth of sample countries. Moreover, a feedback effect also exists from macroeconomic performance and air-transport. It is recommended that airtransport sector should be given formal incentive so as to augment its macroeconomic contribution to economic growth.

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Date: 2015
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