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The Role of Imports on the Convergence of the Jordanian Economy towards a Competitive Economy

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  • Wisam A. Samarah

    (Faculty of Administrative & Economic Sciences, Al-Quds Open University)

Abstract

The Jordanian economy is a small and opened economy, where imports occupy a considerable amount of the balance of payments’ current account. The Jordanian government continuously tried to reduce imports and increase exports; however, its efforts did not achieve the targeted goals. The purpose of this paper is to examine the effect of imports on economic growth in Jordan; i.e., we will determine whether imports have a positive or negative effect on the economic growth in Jordan. We will use a time series analysis to investigate the effect of total imports as a percentage of GDP on the Jordanian GDP per capita. The data covered the period from 1992 to 2017. The importance of this paper lies in evaluating the effect of imports on the Jordanian economy’s path towards a competitive economy. The time series analysis indicated that there is no cause-and-effect relationship between imports and economic growth, with the exception of imports from India having an elasticity of less than one.

Suggested Citation

  • Wisam A. Samarah, 2024. "The Role of Imports on the Convergence of the Jordanian Economy towards a Competitive Economy," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 2062-2072, March.
    • Handle: RePEc:spr:jknowl:v:15:y:2024:i:1:d:10.1007_s13132-023-01141-y
    DOI: 10.1007/s13132-023-01141-y
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    References listed on IDEAS

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    1. David F. Hendry & Katarina Juselius, 2001. "Explaining Cointegration Analysis: Part II," The Energy Journal, International Association for Energy Economics, vol. 0(Number 1), pages 75-120.
    2. Marc J. Melitz, 2003. "The Impact of Trade on Intra-Industry Reallocations and Aggregate Industry Productivity," Econometrica, Econometric Society, vol. 71(6), pages 1695-1725, November.
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