Publish In |
International Journal of Management and Applied Science (IJMAS)-IJMAS |
Journal Home Volume Issue |
||||||||
Issue |
Volume-4,Issue-8 ( Aug, 2018 ) | |||||||||
Paper Title |
Export Led Growth Hypothesis: The Croatian Case Revisited | |||||||||
Author Name |
Mile Bosnjak, Ivan Novak, Hrvojejosic | |||||||||
Affilition |
Faculty of Economics and Business University of Zagreb CROATIA | |||||||||
Pages |
18-22 | |||||||||
Abstract |
This paper aims to examine the non-linear adjustments between exports and GDP in Croatia. This paper analyses quarterly data since the first quarter of 1997 to the second quarter of 2016 to support for export-led growth hypothesis in the Croatian economy. Unlike previous studies, the paper takes into account the possible nonlinear asymmetric effects of exports and GDP toward their long-run equilibrium. The results reveal a threshold co-integrating relationship between the two variables with significantly different error correction adjustments in normal and extreme regimes. The research results supported export export-led growth hypothesis in Croatia during the extreme regime only pointing on the seasonal effect on growth that may arise out of tourism activity. Keywords - Time series; Nonlinearity; Threshold Vector Error Correction; Exports; Economic growth. | |||||||||
View Paper |