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Export-led Growth in South Asia: A Panel Cointegration Analysis

Author

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  • Purna Chandra Parida
  • Pravakar Sahoo

Abstract

In this paper, we attempt to examine the export-led and manufacturing export-led growth hypothesis for four South Asian Countries; namely, India, Pakistan, Bangladesh and Sri Lanka, using Pedroni's panel cointegration technique for the period 1980-2002. In this context we estimate growth accounting equations to investigate the impact of exports, manufacturing exports and other important physical and human capital variables on both total GDP and non-export GDP. The study finds long-run equilibrium relationship between GDP (and non-export GDP) and exports along with other variables supporting export-led growth hypothesis. The results also substantiate the existence of manufacturing export-led growth hypothesis. Further, we find that export, fixed capital formation, public expenditure on health and education have statistically significant coefficients re-emphasizing the importance of these variables for higher economic growth.

Suggested Citation

  • Purna Chandra Parida & Pravakar Sahoo, 2007. "Export-led Growth in South Asia: A Panel Cointegration Analysis," International Economic Journal, Taylor & Francis Journals, vol. 21(2), pages 155-175.
    • Handle: RePEc:taf:intecj:v:21:y:2007:i:2:p:155-175
    DOI: 10.1080/10168730701345414
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    References listed on IDEAS

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    1. Paul Krugman, 1986. "Strategic Trade Policy and the New International Economics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262610450, April.
    2. Anne O. Krueger, 1978. "Foreign Trade Regimes and Economic Development: Liberalization Attempts and Consequences," NBER Books, National Bureau of Economic Research, Inc, number krue78-1.
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