Naslov
Export led growth hypothesis: The Croatian case revisited

Autori
Bošnjak, Mile ; Novak, Ivan ; Jošić, Hrvoje

Izvornik
International Journal of Management and Applied Science (2394-7926) 4 (2018), 8; 18-22

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
Time series ; Nonlinearity ; Threshold Vector Error Correction ; Exports ; Economic growth.

Sažetak
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.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA