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Recent evidence of the validity of the export-led growth hypothesis for Thailand

Author

Listed:
  • Komain Jiranyakul

    (National Institute of Development Administration)

Abstract

Numerous empirical studies have devoted to analyze the role of exports in the growth process. This paper examines the relationship between real exports and real GDP in Thailand using quarterly data from 1993 to 2008. The results from the bounds testing for cointegration in a multivariate framework show that there is evidence of the validity of the export-led growth hypothesis, even though some previous studies that used Thailand data reject it. There exists the long-run causation running from exports to GDP. The policy implication of the results from this study is that deliberate policy measures that can stimulate production for exports will be growth enhancing for Thailand.

Suggested Citation

  • Komain Jiranyakul, 2010. "Recent evidence of the validity of the export-led growth hypothesis for Thailand," Economics Bulletin, AccessEcon, vol. 30(3), pages 2151-2159.
    • Handle: RePEc:ebl:ecbull:eb-10-00478
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    File URL: http://www.accessecon.com/Pubs/EB/2010/Volume30/EB-10-V30-I3-P199.pdf
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    References listed on IDEAS

    as
    1. Logan Rangasamy, 2009. "Exports and economic growth: The case of South Africa," Journal of International Development, John Wiley & Sons, Ltd., vol. 21(5), pages 603-617.
    2. Balassa, Bela, 1978. "Exports and economic growth : Further evidence," Journal of Development Economics, Elsevier, vol. 5(2), pages 181-189, June.
    3. Michaely, Michael, 1977. "Exports and growth : An empirical investigation," Journal of Development Economics, Elsevier, vol. 4(1), pages 49-53, February.
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    6. Urvashi Dhawan & Bagala Biswal, 1999. "Re-examining export-led growth hypothesis: a multivariate cointegration analysis for India," Applied Economics, Taylor & Francis Journals, vol. 31(4), pages 525-530.
    7. Emilio J. Medina-Smith, 2000. "Is The Export-Led Growth Hypothesis Valid For Developing Countries? A Case Study Of Costa Rica," UNCTAD Blue Series Papers 7, United Nations Conference on Trade and Development.
    8. Chow, Peter C. Y., 1987. "Causality between export growth and industrial development : Empirial evidence from the NICs," Journal of Development Economics, Elsevier, vol. 26(1), pages 55-63, June.
    9. Love, Jim & Chandra, Ramesh, 2005. "Testing export-led growth in Bangladesh in a multivarate VAR framework," Journal of Asian Economics, Elsevier, vol. 15(6), pages 1155-1168, January.
    10. Ahmad, Jaleel & Harnhirun, Somchai, 1995. "Unit roots and cointegration in estimating causality between exports and economic growth: Empirical evidence from the ASEAN countries," Economics Letters, Elsevier, vol. 49(3), pages 329-334, September.
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    Cited by:

    1. Elsadig Musa Ahmed, 2016. "ASEAN4 prospective of export-led economic growth," E3 Journal of Business Management and Economics., E3 Journals, vol. 7(1), pages 001-012.
    2. Qazi Muhammad Adnan Hye & Houda Ben Haj Boubaker, 2011. "Exports, Imports and Economic Growth: An Empirical Analysis of Tunisia," The IUP Journal of Monetary Economics, IUP Publications, vol. 0(1), pages 6-21, February.
    3. Jiranyakul, Komain, 2011. "Are Thai Manufacturing Exports and Imports of Capital Goods Related?," MPRA Paper 45654, University Library of Munich, Germany.

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    More about this item

    JEL classification:

    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General

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