An Analysis of Exports and Growth in India: Some Empirical Evidence (1971-2001)

Abhijit Sharma () and Theodore Panagiotidis

No 2003004, Working Papers from The University of Sheffield, Department of Economics

Abstract: The relationship between exports and economic growth has been analysed by a number of recent empirical studies. This paper re-examines the sources of growth for the period 1971-2001 for India. It builds upon Feder´s model to investigate empirically the relationship between export growth and GDP growth (the export led growth hypothesis), using recent data from the Reserve Bank of India, and by focusing on GDP growth and GDP growth net of exports. We investigate the following hypotheses: i) whether exports and GDP are cointegrated using both the Engle-Granger and the Johansen approach, ii) whether export growth Granger causes GDP growth, iii) and whether export growth Granger causes investment. Finally, a VAR is constructed and impulse response functions (IRFs) are employed to investigate the effects of macroeconomic shocks.

Keywords: India; trade; growth; cointegration; Granger causality; impulse response functions (search for similar items in EconPapers)
JEL-codes: F17 F21 O53 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2003-11, Revised 2003-11
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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