EXPORT DIVERSIFICATION AND GROWTH: A BOOTSTRAP PANEL CAUSALITY ANALYSIS FOR SELECTED EMERGING MARKET ECONOMIES

Abstract

In the present study, the relationship between economic growth and export diversification was examined for 10 emerging market economies. For this purpose, the panel data analysis was performed by using the data of period between 1968 and 2014. Within the scope of this analysis, the cross-sectional dependence test and the panel bootstrap causality test developed by Konya (2006) were implemented. According to the results of empirical analyses, it was determined that there was a unidirectional causality relationship from economic growth to export diversification only in Indonesia. Moreover, it was also found that there was a unidirectional causality relationship from export diversification to economic growth in Argentina, Columbia, India, Malaysia, and Turkey. However, no causality relationship was found for other countries. These results reveal the importance of adopting the policies improving the product diversification by promoting the manufacturers in emerging market economies. 

Keywords

• Emerging Market Economies,Export Diversification,Growth

İHRACAT ÇEŞİTLENDİRMESİ VE BÜYÜME: SEÇİLMİŞ YÜKSELEN PİYASA EKONOMİLERİ İÇİN PANEL BOOSTRAP NEDENSELLİK TESTİ

Abstract

Bu çalışmada, seçilmiş 10 yükselen piyasa ekonomisi için ihracat çeşitlendirmesi ve ekonomik büyüme arasındaki ilişki incelenmiştir. Bu amaçla 1968-2014 dönemi verileri kullanılarak panel veri analizi gerçekleştirilmiştir. Analiz kapsamında, yatay kesit bağımlılığı testi ve Konya (2006) tarafından geliştirilen panel bootstrap nedensellik testi uygulanmıştır. Ampirik analiz sonuçlarına göre, sadece Endonezya’da ekonomik büyümeden ihracat çeşitliliğine doğru tek yönlü nedensellik ilişkisi olduğu görülmüştür. Ayrıca Arjantin, Kolombiya, Hindistan, Malezya ve Türkiye’de ihracat çeşitliliğinden ekonomik büyümeye doğru tek yönlü bir nedensellik ilişkisinin olduğu bulgusuna da ulaşılmıştır. Ancak diğer ülkelerde herhangi bir nedensellik ilişkisine rastlanılamamıştır. Bu sonuçlar, yükselen piyasa ekonomilerinde üreticilerin teşvik edilerek ürün çeşitliliğini artırıcı politikalarının benimsenmesinin önemini ortaya koymaktadır

Keywords

• Yükselen Pyasa Ekonomileri,İhracat Çeşitliliği,Büyüme,Panel Boostrap Nedensellik

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