Artikel
Does trade openness affect economic growth in India? Evidence from threshold cointegration with asymmetric adjustment
This paper investigates the long-run equilibrium relationship between economic growth and trade openness in India during the period 1960-2018 using the asymmetric error-correction model with threshold cointegration. To evaluate the robustness impact of trade openness on economic growth under different regimes, we divide the full sample period into two sub-periods, i.e., pre-trade reforms period 1960-1990, and post-trade reforms period 1991-2018. The study indeed confirms the evidence of asymmetric cointegration between economic growth and trade openness in India during the period under evaluation and over the different sub-periods. The estimated asymmetric error-correction model exhibits a different speed of adjustment in trade openness in response to positive and negative economic growth shocks in the short-run. More specifically, during the pre-reforms period, deviations from the long-run equilibrium due to a relative increase in economic growth have a lower speed of adjustment in comparison to deviations caused by a corresponding decrease in economic growth in India.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Cogent Economics & Finance ; ISSN: 2332-2039 ; Volume: 8 ; Year: 2020 ; Issue: 1 ; Pages: 1-26 ; Abingdon: Taylor & Francis
Klassifikation
Wirtschaft
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
Economic Impacts of Globalization: Macroeconomic Impacts
Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
Economic Impacts of Globalization: Macroeconomic Impacts
Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
Thema
economic growth
trade openness
threshold cointegration
error correctionmechanism
trade openness
threshold cointegration
error correctionmechanism
Ereignis
Geistige Schöpfung
(wer)
Mallick, Lingaraj
Ranjan Behera, Smruti
Ranjan Behera, Smruti
Ereignis
Veröffentlichung
(wer)
Taylor & Francis
(wo)
Abingdon
(wann)
2020
- DOI
-
doi:10.1080/23322039.2020.1782659
- Handle
- Letzte Aktualisierung
-
12.07.2024, 13:21 MESZ
Objekttyp
- Artikel
Beteiligte
- Mallick, Lingaraj
- Ranjan Behera, Smruti
- Taylor & Francis
Entstanden
- 2020
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