Exports and Italy’s economic development: a long-run perspective (1863-2004)

Barbara Pistoresi and Alberto Rinaldi

Department of Economics from University of Modena and Reggio E., Faculty of Economics "Marco Biagi"

Abstract: This paper investigates the relationship between real export and real GDP in Italy from 1863 to 2004 by using cointegration analysis and causality tests. The outcome suggests that these variables comove in the long run but the direction of causality depends on the level of economic development: in the period prior to WW1 the growth of the Italian economy led that of exports, while in the post-WW2 period the causal relationship was reversed with the expansion of exports that determined the growth of the Italian economy

Keywords: Export led growth hypothesis; unit root tests; cointegration analysis; Granger – causality (search for similar items in EconPapers)
JEL-codes: F43 N1 N7 O11 (search for similar items in EconPapers)
Pages: pages 25
Date: 2011-05
New Economics Papers: this item is included in nep-fdg and nep-his
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Citations: View citations in EconPapers (2)

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Working Paper: Exports and Italy’s economic development: a long-run perspective (1863-2004) (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:mod:depeco:0655

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