Export-Led Growth in the UAE: Multivariate Causality Between Primary Exports, Manufactured Exports and Economic Growth

Kalaitzi, Athanasia S and Cleeve, Emmanuel ORCID: https://orcid.org/0000-0001-8048-2115 (2018) Export-Led Growth in the UAE: Multivariate Causality Between Primary Exports, Manufactured Exports and Economic Growth. Eurasian Business Review, 8 (3). pp. 341-365. ISSN 1309-4297

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Official URL: https://link.springer.com/article/10.1007/s40821-0...

Abstract

The principal question that this research addresses is the validity of the Export-Led Growth hypothesis (ELG) in the United Arab Emirates (UAE) over the period 1981–2012, focusing on the causality between primary exports, manufactured exports and economic growth. Unit root tests are applied to examine the time-series properties of the variables, while the Johansen cointegration test is performed to confirm or not the existence of a long-run relationship between the variables. Moreover, the multivariate Granger causality test and a modified version of Wald test are applied to examine the direction of the short-run and long-run causality respectively. The cointegration analysis reveals that manufactured exports contribute more to economic growth than primary exports in the long-run. In addition, this research provides evidence to support a bi-directional causality between manufactured exports and economic growth in the short-run, while the Growth-Led Exports (GLE) hypothesis is valid in the long-run for UAE.

Item Type:	Article
Peer-reviewed:	Yes
Date Deposited:	15 May 2018 13:57
Publisher:	Springer
Additional Information:	This is an Open Access article published in Eurasian Business Review, published by Springer, copyright The Author(s).
Divisions:
Subject terms:	Export-led Growth Diversification Economic growth Causality UAE, Social Sciences, Business, Economics, Management, Business & Economics, Social Sciences, Business, Economics, Management, Business & Economics, Export-led Growth, Diversification, Economic growth, Causality, UAE, TIME-SERIES, EMPIRICAL-EVIDENCE, UNIT-ROOT, ERROR-CORRECTION, COINTEGRATION, HYPOTHESIS, REGRESSION, EXPANSION, COUNTRIES, CHILE, 1501 Accounting, Auditing and Accountability, 1502 Banking, Finance and Investment, 1503 Business and Management
URI:	https://e-space.mmu.ac.uk/id/eprint/620562
DOI:	https://doi.org/10.1007/s40821-017-0089-1
ISSN	1309-4297
e-ISSN	2147-4281

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