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An empirical analysis of the export-led growth (ELG) hypothesis in the Philippines

Philippine Review of Economics

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Title An empirical analysis of the export-led growth (ELG) hypothesis in the Philippines
 
Creator Ballester, Richard; National Economic and Development Authority
Sinay, Joy; National Economic and Development Authority
 
Subject —
 
Description We reexamine the relationship between growth and exports of the Philippines for the period 1977–2009 using the methods of Sharma and Panagiotidis [2005] and Feder [1983]. With the shift in the current economic policy toward inclusive growth, we find it necessary to assess if indeed the export-led growth (ELG) hypothesis really worked for the country. Specifically, our research investigates the cointegration of exports, imports, and output using the Johansen cointegration test and the Breitung cointegration test; the Granger-causality between exports, investments, and output; and the impact of macroeconomic shocks by employing a vector autoregressive model. In summary, we find that the ELG hypothesis appears to be empirically unsupported for the Philippine case.JEL Classification: E20, F10, F41, O11, O24
 
Publisher Philippine Review of Economics
 
Contributor export-led growth hypothesis
Breitung cointegration test
vector autoregressive model
 
Date 2013-07-09
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.econ.upd.edu.ph/pre/index.php/pre/article/view/892
 
Source Philippine Review of Economics; Vol 50, No 1 (2013); 83-110
1655-1516
 
Language eng
 
Relation http://www.econ.upd.edu.ph/pre/index.php/pre/article/view/892/792
 
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