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Export-Led and Import-Led Growth Hypotheses: Empirical Evidence from Greece

In: Applied Economic Research and Trends

Author

Listed:
  • Melina Dritsaki

    (University of Western Macedonia)

  • Chaido Dritsaki

    (University of Western Macedonia)

Abstract

This chapter examines the impact of exports and imports on economic growth in Greece alongside empirical analysis of the export-led growth hypothesis (ELGH), the import-led growth hypothesis (ILGH), the growth-led export hypothesis (GLEH), and the growth-led import hypothesis (GLIH), both in the short and long run. To analyze these hypotheses, we used Johansen’s approach to examine whether there is a long-run equilibrium relationship between the variables, the vector error correction model (VECM) to discover how variables behave in the long and short run, and the Granger causality test for the direction of the behavior of variables. The results of this study show that there is a long-run relationship between the variables. The results of the controls show evidence to favor the case for export-led growth in the long run and import-led growth in the short run but not in the long run.

Suggested Citation

  • Melina Dritsaki & Chaido Dritsaki, 2024. "Export-Led and Import-Led Growth Hypotheses: Empirical Evidence from Greece," Springer Proceedings in Business and Economics, in: Nicholas Tsounis & Aspasia Vlachvei (ed.), Applied Economic Research and Trends, chapter 0, pages 159-185, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-49105-4_10
    DOI: 10.1007/978-3-031-49105-4_10
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    More about this item

    Keywords

    Export; Economic growth; Imports; Foreign direct investment; Government expenditure; Co-integration; Granger causality; Variance decomposition (VDC; Impulse response function (IRF); Greece;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • J38 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Public Policy

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