DOIONLINE

DOIONLINE NO - IJMAS-IRAJ-DOIONLINE-13478

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International Journal of Management and Applied Science (IJMAS)-IJMAS
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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.
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