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Reppas, Panayiotis A.; Christopoulos, Dimitris K.
Journal of policy modeling, 11/2005, Letnik: 27, Številka: 8Journal Article
This study investigates the relationship between exports and output growth for a sample of 22 less developed Asian and African countries over the period 1969–1999. Our study goes beyond previous studies by using modern time series techniques organized around panel unit roots and panel cointegration tests to draw sharper conclusions from the short time series that are typically available in economics. In addition, the structural relationship between output growth and exports is estimated by fully modified OLS techniques appropriate for heterogeneous panel. The empirical findings suggest that output growth causes exports and not the reverse.
