Common and uncommon sources of growth in Asia Pacific

Weber, Enzo (2006): Common and uncommon sources of growth in Asia Pacific.

Abstract

This paper embarks to analyse the role of exports and investment supposed to be major sources of economic growth in Asia Pacific. Therefore at first, the cointegration properties of exports, capital formation and GDP are examined in vector error correction models (VECMs). The results confirm the crucial role of exports and investment in the Asian growth dynamics. In a second stage, the structural shocks are identified by short- and long-run restrictions. These shocks, as well as the corresponding dynamic responses, are then correlated across all sample countries to provide insight into the depth of regional coherence. At last, the identified trends are explained by various macroeconomic variables.

• Item Type: MPRA Paper
• Institution: Sonderforschungsbereich 649, Humboldt University, Berlin, Germany
• Language: English
• Keywords: Economic Growth; Structural VECM; Export; Investment; Asia Pacific
• Subjects: C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables > C32 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes ; State Space Models; F - International Economics > F1 - Trade > F15 - Economic Integration; O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O11 - Macroeconomic Analyses of Economic Development