IDEAS home Printed from https://ideas.repec.org/a/ibn/ijefaa/v9y2017i9p1-7.html
   My bibliography  Save this article

Relationship of Foreign Trade and Economic Growth in Eurasian Economy: Panel Data Analysis

Author

Listed:
  • Nazife Ozge Kilic
  • Murat Beser

Abstract

In this study, relationship between foreign trade and economic growth had been examined for the countries of Eurasia Economic Union by using data in era of 1992-2015 with the help of panel data analysis. First of all, cross-sectional dependency and homogeneity test had been done in the study and it had been concluded that there is cross-sectional dependency in between the series. For this purpose, unit root and causality test considering the cross-sectional dependency had been applied. Relationship between the variables had been analyzed with the panel causality test developed by Konya (2006). It had been determined that there is bi-directional causality from growth to export and unidirectional causality from growth to import.

Suggested Citation

  • Nazife Ozge Kilic & Murat Beser, 2017. "Relationship of Foreign Trade and Economic Growth in Eurasian Economy: Panel Data Analysis," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(9), pages 1-7, September.
    • Handle: RePEc:ibn:ijefaa:v:9:y:2017:i:9:p:1-7
    as

    Download full text from publisher

    File URL: http://ccsenet.org/journal/index.php/ijef/article/view/68967/37842
    Download Restriction: no
    File URL: http://ccsenet.org/journal/index.php/ijef/article/view/68967
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Wenyu Zang & Mark Baimbridge, 2012. "Exports, imports and economic growth in South Korea and Japan: a tale of two economies," Applied Economics, Taylor & Francis Journals, vol. 44(3), pages 361-372, January.
    2. Yousif Khalifa Al-Yousif, 1997. "Exports and economic growth:some empirical evidence from the Arab Gulf countries," Applied Economics, Taylor & Francis Journals, vol. 29(6), pages 693-697.
    3. T. S. Breusch & A. R. Pagan, 1980. "The Lagrange Multiplier Test and its Applications to Model Specification in Econometrics," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 47(1), pages 239-253.
    4. Ahdi N. Ajmi & Goodness C. Aye & Mehmet Balcilar & Rangan Gupta, 2015. "Causality between exports and economic growth in South Africa: evidence from linear and nonlinear tests," Journal of Developing Areas, Tennessee State University, College of Business, vol. 49(2), pages 163-181, April-Jun.
    5. M. Hashem Pesaran, 2021. "General diagnostic tests for cross-sectional dependence in panels," Empirical Economics, Springer, vol. 60(1), pages 13-50, January.
    6. Hashem Pesaran, M. & Yamagata, Takashi, 2008. "Testing slope homogeneity in large panels," Journal of Econometrics, Elsevier, vol. 142(1), pages 50-93, January.
    7. Abid Hameed & Muhammad Ali Chaudhary & Kiran Younas Khan, 2005. "The Growth Impact of Exports in South Asian Countries," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 44(4), pages 901-9190-.
    8. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July.
    9. L. Vanessa Smith & Stephen Leybourne & Tae-Hwan Kim & Paul Newbold, 2004. "More powerful panel data unit root tests with an application to mean reversion in real exchange rates," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 19(2), pages 147-170.
    10. Konya, Laszlo, 2006. "Exports and growth: Granger causality analysis on OECD countries with a panel data approach," Economic Modelling, Elsevier, vol. 23(6), pages 978-992, December.
    11. Abdulnasser Hatemi-J & Manuchehr Irandoust, 2001. "Time-series evidence for Balassa's export-led growth hypothesis," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 9(3), pages 355-365.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sayef Bakari, 2017. "The Three-Way Linkages Between Export, Import And Economic Growth: New Evidence From Tunisia," Journal of Smart Economic Growth, , vol. 2(3), pages 13-53, December.
    2. Effat Ara Easmin Lucky & Md. Mahadi Hasan Sany & Mumenunnesa Keya & Md. Moshiur Rahaman & Umme Habiba Happy & Sharun Akter Khushbu & Md. Arid Hasan, 2022. "Simulating Using Deep Learning The World Trade Forecasting of Export-Import Exchange Rate Convergence Factor During COVID-19," Papers 2201.12291, arXiv.org.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Schneider, Nicolas & Strielkowski, Wadim, 2023. "Modelling the unit root properties of electricity data—A general note on time-domain applications," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 618(C).
    2. Alper Yılmaz, 2023. "Carbon emissions effect of trade openness and energy consumption in Sub-Saharan Africa," SN Business & Economics, Springer, vol. 3(2), pages 1-28, February.
    3. Ozcan, Burcu, 2013. "The nexus between carbon emissions, energy consumption and economic growth in Middle East countries: A panel data analysis," Energy Policy, Elsevier, vol. 62(C), pages 1138-1147.
    4. Fateh Belaïd & Maha Harbaoui Zrelli, 2016. "Renewable and Non-Renewable Electricity Consumption, Carbon Emissions and GDP: Evidence From Mediterranean Countries," Working Papers 1037, Economic Research Forum, revised Aug 2016.
    5. Belaïd, Fateh & Zrelli, Maha Harbaoui, 2019. "Renewable and non-renewable electricity consumption, environmental degradation and economic development: Evidence from Mediterranean countries," Energy Policy, Elsevier, vol. 133(C).
    6. Günay ÖZCAN, 2020. "Financial development and income inequality: An empirical analysis on the emerging market economies," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(3(624), A), pages 85-96, Autumn.
    7. Francisco García-Lillo & Eduardo Sánchez-García & Bartolomé Marco-Lajara & Pedro Seva-Larrosa, 2023. "Renewable Energies and Sustainable Development: A Bibliometric Overview," Energies, MDPI, vol. 16(3), pages 1-22, January.
    8. Yilmaz Bayar & Marius Dan Gavriletea, 2018. "Foreign Direct Investment Inflows and Financial Development in Central and Eastern European Union Countries: A Panel Cointegration and Causality," IJFS, MDPI, vol. 6(2), pages 1-13, May.
    9. Yugang He & Ziqian Zhang, 2022. "Energy and Economic Effects of the COVID-19 Pandemic: Evidence from OECD Countries," Sustainability, MDPI, vol. 14(19), pages 1-13, September.
    10. Jin, Taeyoung, 2022. "Impact of heat and electricity consumption on energy intensity: A panel data analysis," Energy, Elsevier, vol. 239(PA).
    11. Huang, Lingyun & Zou, Yanjun, 2020. "How to promote energy transition in China: From the perspectives of interregional relocation and environmental regulation," Energy Economics, Elsevier, vol. 92(C).
    12. Irandoust, Manuchehr, 2019. "On the relation between exchange rates and tourism demand: A nonlinear and asymmetric analysis," The Journal of Economic Asymmetries, Elsevier, vol. 20(C).
    13. Breitung, Jörg & Pesaran, Mohammad Hashem, 2005. "Unit roots and cointegration in panels," Discussion Paper Series 1: Economic Studies 2005,42, Deutsche Bundesbank.
    14. Olatunji A. Shobande & Simplice A. Asongu, 2021. "Financial Development, Human Capital Development and Climate Change in East and Southern Africa," Working Papers 21/042, European Xtramile Centre of African Studies (EXCAS).
    15. Le, Thai-Ha & Chang, Youngho & Park, Donghyun, 2016. "Trade openness and environmental quality: International evidence," Energy Policy, Elsevier, vol. 92(C), pages 45-55.
    16. Mehmet Balcilar & Rangan Gupta & Chien-Chiang Lee & Godwin Olasehinde-Williams, 2020. "Insurance-growth nexus in Africa," The Geneva Papers on Risk and Insurance - Issues and Practice, Palgrave Macmillan;The Geneva Association, vol. 45(2), pages 335-360, April.
    17. Boubtane, Ekrame & Coulibaly, Dramane & Rault, Christophe, 2013. "Immigration, unemployment and GDP in the host country: Bootstrap panel Granger causality analysis on OECD countries," Economic Modelling, Elsevier, vol. 33(C), pages 261-269.
    18. Chi, Meiqing & Muhammad, Sulaman & Khan, Zeeshan & Ali, Shahid & Li, Rita Yi Man, 2021. "Is centralization killing innovation? The success story of technological innovation in fiscally decentralized countries," Technological Forecasting and Social Change, Elsevier, vol. 168(C).
    19. Haoran Zhao & Sen Guo & Huiru Zhao, 2018. "Impacts of GDP, Fossil Fuel Energy Consumption, Energy Consumption Intensity, and Economic Structure on SO 2 Emissions: A Multi-Variate Panel Data Model Analysis on Selected Chinese Provinces," Sustainability, MDPI, vol. 10(3), pages 1-20, March.
    20. Godwin Olasehinde-Williams & Mehmet Balcilar, 2018. "The Long-run Effect of Geopolitical Risks on Insurance Premiums," Working Papers 15-44, Eastern Mediterranean University, Department of Economics.

    More about this item

    Keywords

    import; export; panel bootstrap causality test; Eurasian Economic Union; economic growth;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ibn:ijefaa:v:9:y:2017:i:9:p:1-7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Canadian Center of Science and Education (email available below). General contact details of provider: https://edirc.repec.org/data/cepflch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.