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Export Instability, Investment and Economic Growth in Asian Countries: A Time Series Analysis

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  • Sinha, Dipendra

Abstract

In this study, we look at the relationship between export stability, investment and economic growth in nine Asian countries using time series data. The few previous time series studies in this area have not paid any attention to stationarity and cointegration issues. We find that in most cases, the variables are non-stationary in their levels and not cointegrated. These results raise serious doubts about the results of these studies. The results are not uniform across countries casting doubts about the validity of the numerous cross-section studies. For Japan, Malaysia, Philippines and Sri Lanka, we find a negative relationship between export instability and economic growth. For (South) Korea, Myanmar, Pakistan and Thailand, we find a positive relationship between the two variables. For India, we get mixed results. In most cases, economic growth is found to be positively associated with domestic investment.

Suggested Citation

  • Sinha, Dipendra, 1999. "Export Instability, Investment and Economic Growth in Asian Countries: A Time Series Analysis," Center Discussion Papers 28466, Yale University, Economic Growth Center.
    • Handle: RePEc:ags:yaleeg:28466
    DOI: 10.22004/ag.econ.28466
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    Cited by:

    1. repec:aer:wpaper:322 is not listed on IDEAS
    2. Thomas Chataghalala Munthali, 2012. "Interaction of public and private investment in Southern Africa: a dynamic panel analysis," International Review of Applied Economics, Taylor & Francis Journals, vol. 26(5), pages 597-622, September.
    3. Aiello, Francesco, 2002. "Financial stabilization systems, economic growth of developing countries and EU’s STABEX," MPRA Paper 38099, University Library of Munich, Germany.
    4. Zamanian Gholamreza & Pourshahabi Farshid & Shirazi Ali, 2010. "Interaction of Export Instability and Openness-Growth Nexus In East Asia and Pacific Countries (1990-2006)," American Journal of Economics and Business Administration, Science Publications, vol. 2(1), pages 39-44, March.
    5. Sarada, C. & Ravinsankar, T. & Krishnan, M. & Anandanarayanan, C., 2006. "Indian Seafood Exports: Issues of Instability, Commodity Concentration and Geographical Spread," Indian Journal of Agricultural Economics, Indian Society of Agricultural Economics, vol. 61(2), pages 1-15.
    6. Shrabanti Maity, 2013. "India’s Leather and Manufactures Export in the Scenario of WTO: An Analysis Trend and Structural Shift," Managing Global Transitions, University of Primorska, Faculty of Management Koper, vol. 11(3 (Fall)), pages 261-281.
    7. Ha, Nguyen Thi Thu & Hoa, Lam Ba, 2018. "On the Causality Relationship between Demographic Changes, Economic Growth and Domestic Savings in Vietnam," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 52(2), pages 27-38.
    8. Muhammad Aslam Chaudhary & Amjad Naveed, 2003. "Export Earnings, Capital Instability and Economic Growth in South Asia," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 8(1), pages 65-89, Jan-June.

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