1,720,996 research outputs found
Export led growth in Hong Kong: empirical evidence from the components of exports
No full textUsing Granger\u27s causality approach, the hypothesis of export led growth for Hong Kong has been empirically tested via the components of total exports namely re-exports, domestic exports, and export of services. This paper contributes to the existing literature by the following ways. Firstly, this study extends Tuan and Ng\u27s (1998) work by considering the role of export of services. Secondly, better estimates of using larger sample size are granted due to the use of quarterly data. Thirdly, this study employs Autoregressive Distributed Lag (ARDL) framework which incorporates both static and dynamic components in order to examine the causation relation between exports\u27 components and economic growth. The export led growth hypothesis is supported by the finding of bi-directional causation between re-exports and real GDP, and domestic exports and real GDP. No causation relation between export of services and real GDP
The demand for imports in Japan: a review article
No full textThe aim of this paper is to review the vast existing research on import demand study as it relates to Japan, and finds that the results depend on model specification and the estimation technique. This paper also discusses the issues, which relates to the determinants of import demand for further research with reference to distinct streams of literature
Current and capital account interdependence: an empirical test
No full textThe interrelation between the current and capital accounts of the balance of payments is widely
recognised in the literature, but the nature of that interdependence is not well understood. This
tudy uses two empirical specifications to test the interdependence between the current and capital accounts of the balance of payments. The alternative specifications, derived from the balance of payments constraint and from national income accounting relationships, respectively, yield consistent support for the interdependence hypothesis. The balance of payments specification returns positive findings for nine of the ten sample countries. These are corroborated by the general equilibrium specification in three instances. The relatively weak support obtained from the general equilibrium specification may be attributable to the rudimentary nature of that specification, in particular to the failure to model the lag structure of the underlying model
Real exchange rates and real interest differenntials: the case of a transitional economy - Cambodia
No full textAn empirical investigation on the sustainability of the Japan\u27s bilateral imbalance
No full textThis study extends the work by Tang (2006) to empirically re-investigate the sustainability of Japan\u27s trade accounts by using disaggregated data - her trading regions and countries. The previous study (Tang, 2006) finds Japan\u27s trade balances are unsustainable via aggregate data. Applying the unit root tests with unknown level shifts, this study finds that Japan\u27s bilateral accounts in three of eleven regions and thirteen of twenty eight countries are sustainable
Disaggregated import demand and expenditure components in Malaysia: an empirical analysis
No full textThis study aims to investigate Malaysian import demand behaviour for consumption, investment and intermediate goods covering the period 1968 to 1998. The determinants involved comprise various final expenditure components (consumption expenditure, expenditure on investment goods, and exports) and relative price. The study adopted cointegration and error correction modeling techniques for analysis. The major findings are as follows. First, the import of consumption, investment and intermediate goods, and its determinants are cointegrated. Second, different import components behave differently with determinants both in the long and short runs. Third, the explanatory variables do jointly Granger cause volume of imports at a disaggregated level. The findings documented in this study have a relevance for policy implications
AGGREGATE IMPORT DEMAND BAHAVIOR FOR INDONESIA: EVIDENCE FROM THE BOUNDS TESTING APPROACH
No full textThis paper empirically re-estimates the long-run relationship between Indonesian aggregate import demand and its determinants; namely, real income and relative import prices. In contrast to previous studies (Reinhart, 1995; and Senhadji, 1998), the result of the bounds test (Pesaran et al., 2001) reveals that import volume, real income and relative import prices are cointegrated. This is an important finding from the viewpoint of the Indonesian economic policy. The estimated long-run elasticity of real income and relative price are 0.98 and -0.4 respectively.JEL classification: C22, F14Key words: Aggregate import demand, Bounds testing approach, Indonesi
AGGREGATE IMPORT DEMAND FUNCTION FOR EIGHTEEN OIC COUNTRIES: A COINTEGRATION ANALYSIS
No full textIslamic Economics
New Perspective On The ‘Net Errors And Omissions’ In Balance Of Payment Accounts: An Empirical Study In Australia
Full text linkThis study explores the macroeconomic determinants of the ‘net errors and omissions’
behaviour in balance of payment accounts. Two empirical equations are being estimated
as suggested by the balance of payments constraint, and income-expenditure approach,
respectively. This study fnds that GDP, interest rate, and exchange rate are the important
factors explaining the Australian ‘net errors and omissions’. Causality tests have recognized
the possible transmission channels. This study can be considered a new perspective in this
topic and reference for further research
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