The Spillover Effect of Exports: An Analysis of Caribbean SIDs

Roger Hosein, Nirvana Satnarine-Singh and George Saridakis
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Roger Hosein: The University of the West Indies, Department of Economics, St. Augustine, Trinidad and Tobago
Nirvana Satnarine-Singh: The University of the West Indies, Department of Economics, St. Augustine, Trinidad and Tobago

Economia Internazionale / International Economics, 2022, vol. 75, issue 1, 1-28

Abstract: The paper empirically examines the degree to which exports are productivity enhancing in fourteen Caribbean Community (CARICOM) states. To do so, exports are included in a modified production function and a panel autoregressive distributed lag (ARDL) model is specified and estimated using a Common Correlated Effects (CCE) estimator to determine the spillover effect of the export sector to the non-export sectors in these economies. The results indicate that there is a crowding out effect, such that as exports increases, non-export Gross Domestic Product (GDP) decreases. L'effetto spillover delle esportazioni: studio del caso Caraibi Questo articolo esamina in quale misura le esportazioni stimolano la produttività in quattordici stati della comunità caraibica (CARICOM). A questo fine le esportazioni sono incluse in una funzione di produzione modificata ed in un modello ARDL ad intervallo autoregressivo distribuito. Per determinare l’effetto spillover delle esportazioni sugli altri settori viene utilizzato un metodo Common Correlated Effects (CCE). I risultati indicano che c’è un effetto spiazzamento per cui quando l’export aumenta la quota di PIL generata dagli altri settori diminuisce.

Keywords: Exports; Productivity; CARICOM States; Caribbean; ARDL (search for similar items in EconPapers)
JEL-codes: C01 C13 F14 O11 O40 (search for similar items in EconPapers)
Date: 2022
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