Does trade openness affect long run growth? Cointegration, causality and forecast error variance decomposition tests for Pakistan
Does trade openness affect long run growth? Cointegration, causality and forecast error variance decomposition tests for Pakistan
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DOI：
10.1016/j.econmod.2012.07.015
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发表时间：
2012-11
影响因子：
4.7
通讯作者：
M. Shahbaz
中科院分区：
文献类型：
--
作者：
M. Shahbaz
该研究调查了贸易开放对经济增长的长期影响。我们使用 ARDL 边界测试方法来测试长期关系和增强生产函数，通过使用 Mankiw 等人的框架将金融发展作为经济增长的另一个决定因素。 （1992）。结果证实了系列之间的协整关系。从长远来看，贸易开放促进经济增长。 VECM 格兰杰因果关系检验证实了增长带动贸易假说。还使用创新会计方法（IAA）检查因果关系。
The study investigates the impact of trade openness on economic growth in the long run. We apply the ARDL bounds testing approach to test for a long run relationship and the augmented production function by incorporating financial development as an additional determinant of economic growth using the framework of Mankiw et al. (1992). The results confirm cointegration among the series. In the long run, trade openness promotes economic growth. The growth-led-trade hypothesis is vindicated by VECM Granger causality test. The causality is also checked by using the innovative accounting approach (IAA).