scholarly journals Determinants of Export Performance in ASEAN Region: Panel Data Analysis

2019 ◽  
Vol 12 (8) ◽  
pp. 1
Author(s):  
Thida Oo ◽  
Jerome Kueh ◽  
Daw Tin Hla
Keyword(s):  
Direct Investment ◽  
Panel Data Analysis ◽  
Export Performance ◽  
Policy Makers ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Time Period ◽  
Asean Countries ◽  
Study Panel

International trade is one of the major aspects that grow tremendously in Southeast Asia and export is regarded as main accelerators of growth in either developed or developing countries. The objective of this study is to determine the determinants of export performance for ASEAN countries. In this study, panel Autoregressive Distributed Lag (ARDL) method is adopted for time period between 2000 to 2015. Empirical findings indicate that there is a long-run relationship between determinants of export such as interest rate, economic growth and foreign direct investment with export performance of ASEAN countries. Therefore, policy makers need to strategize their policies to move towards closer cooperation among the ASEAN countries, especially promoting sustainable exportation in the region.

scholarly journals THE NEXUS BETWEEN FOREIGN DIRECT INVESTMENT (FDI) AND MANUFACTURED EXPORT PERFORMANCE IN TANZANIA: AN AUTOREGRESSIVE DISTRIBUTED LAG (ARDL) APPROACH

2018 ◽  
Author(s):  
Francis - Lwesya ◽  
Kaluse Mohammed
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Export Performance ◽  
Value Added ◽  
Real Effective Exchange Rate ◽  
Correction Coefficient ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Manufactured Exports

This paper examines the nexus between Foreign Direct Investment (FDI) and Manufactured Export Performance in Tanzania using An Autoregressive Distributed Lag (ARDL) for the period of 1980-2015. Real manufactured exports were used to proxy manufactured export performance. The findings show the existence of a positive and significant relationship between real manufactured exports and lagged FDI both in the short run and long run. The estimated error correction coefficient is negative and significant at one percent level. This confirms that all the variables (Real Manufactured Exports, FDI, Openness, and Real Effective Exchange Rate) are co-integrated and the speed of adjustment towards the long run equilibrium is at 78% annually. This suggests that FDI is one of the determinants of manufactured export performance in Tanzania. Thus, to stimulate more manufactured exports, Tanzania needs to attract FDIs that target the export sector along with increasing trade openness in a bid to build a competitive and sustainable value added manufacturing sector.

scholarly journals Asymmetrical Linkages between Foreign Exchange and Stock Markets: Empirical Evidence through Linear and Non-Linear ARDL

2018 ◽  
Vol 11 (3) ◽  
pp. 51 ◽  
Author(s):  
Rabia Luqman ◽  
Rehana Kouser
Keyword(s):  
Time Series Data ◽  
Equity Markets ◽  
Series Data ◽  
Policy Makers ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Non Linear ◽  
Short Run ◽  
Daily Time

The symmetrical relationship between currency and equity markets has gained much attention among academicians and policy makers in the recent era. Many studies conducted on this relationship have concluded that there is short-run relationship between these variables and found less evidence about a long-run relationship. Moreover, all previous studies supposed the linear or symmetrical relationship between these variables. In this study, we use daily time series data from G8+5 countries and Pakistan for 2000–2016 and apply linear and non-linear autoregressive distributed lag (ARDL) to check the symmetrical and asymmetrical relationship between currency and equity markets. Results have shown that there are asymmetrical linkages between the currency and equity markets.

China’s outward foreign direct investment and exports diversification: an asymmetric analysis

2020 ◽  
Vol 13 (2) ◽  
pp. 45-69 ◽  
Author(s):  
Faheem Ur Rehman ◽  
Yibing Ding ◽  
Abul Ala Noman ◽  
Muhammad Asif Khan
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Vital Role ◽  
Outward Foreign Direct Investment ◽  
Asymmetric Effect ◽  
Content Type ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Chinese Export

Purpose Over the past two decades, China’s outward foreign direct investment (OFDI) has risen remarkably. Whether such an increase affects the Chinese export diversification (ED) is a significant issue that has surprisingly remained unaddressed. This study aims to explain this issue that how OFDI plays a vital role in symmetric and asymmetric effects on its ED. Design/methodology/approach The authors introduce a robust nonlinear autoregressive distributed lag (NARDL) model. Ironically, the purpose of this study is to analyze the symmetric and asymmetric effect of OFDI on ED. Findings The authors propose that growing OFDI would be more advantageous to China, rather than the policies of contraction. Therefore, the study provides valuable policy insights to consider the long-run asymmetric momentum given to ED by China’s OFDI. Originality/value The results of this study may seem to be an important newsletter for further policy discussion on how China can catch up on the benefits of ED through OFDI.

scholarly journals Market concentration and foreign direct investment in the financial leasing sector of the Republic of Serbia

Skola biznisa ◽  
2020 ◽  
pp. 1-19
Author(s):  
Marija Radulović
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Negative Relationship ◽  
Market Concentration ◽  
Financial Leasing ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
The Republic

The financial leasing market in previous years is characterised by a growth that is also expected in the coming period. Besides, developing countries are striving to attract as much foreign direct investment (FDI) as possible to accelerate economic growth and achieve macroeconomic stability. The aim of this paper is to determine whether there is a relationship between FDI and the level of market concentration in the financial leasing sector of the Republic of Serbia and to determine whether this relationship is long-term or short-term. Quarterly data from the first quarter of 2006 to the first quarter of 2019 were used. Autoregressive Distributed Lag approach (ARDL) and bounds test were used for data analysis. The results showed that there is a negative relationship between FDI and the level of market concentration in the financial leasing sector of the Republic of Serbia in the long run, while there is no statistically significant relationship between FDI and the level of market concentration in the short run.

scholarly journals The Short and Long Run Determinants of Foreign Direct Investment in Nigeria

2020 ◽  
Vol 2 (4) ◽  
pp. 45-65
Author(s):  
Oludayo Elijah Adekunle
Keyword(s):  
Foreign Direct Investment ◽  
Exchange Rate ◽  
Gross Domestic Product ◽  
Direct Investment ◽  
Capital Expenditure ◽  
Trade Openness ◽  
Foreign Direct Investment Inflow ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run

What determines foreign direct investment inflows has been a subject of controversies among scholars. As a result of the highlighted gap discussed in this study, the short and long run determinants of foreign direct investment and their effects on foreign direct investment inflow in Nigeria was investigated from 1986 to 2018. Data were analyzed with Augmented Dickey-Fuller and Philip Perron unit root test, Autoregressive Distributed Lag and Pairwise Granger Causality techniques. Evidence of long run dynamic equilibrium relationship was established between foreign direct investment and its determinants. The short and long run coefficients revealed that government capital expenditure and inflation impede the inflow of foreign direct investment both in the short and long run while exchange rate serve as bane to foreign direct investment in the long run. However, gross domestic product and trade openness were found to stimulate the inflow of foreign direct investment in the short and long run. The Pairwise causality result revealed that government capital expenditure, exchange rate and trade openness had independent causality with foreign direct investment while gross domestic product and inflation rate had unidirectional causality with foreign direct investment. Thus, government should allocate more funds for the provision of enabling and investment enhancing environment to promote foreign direct investment inflow. The study added value to previous studies by estimating the short and long run determinants of foreign direct investment using more dynamic and robust technique of Autoregressive Distributed Lag developed by Peseran and Shin (1999). JEL Codes: C32, F21.

scholarly journals The effect of worker remittances on economic growth: An ARDL approach

2019 ◽  
Vol 30 (4) ◽  
pp. 434-441 ◽  
Author(s):  
Muhammad Kamran Khan ◽  
Jian-Zhou Teng ◽  
Muhammad Imran Khan
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Direct Investment ◽  
Domestic Saving ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Ardl Approach ◽  
Financial Flow ◽  
Short Run

Worker remittances are the main source of financial flow to any economy.  This study intended to scrutinize the effect of remittance inflow on Pakistan’s economy over the period 1976- 2016 by employing autoregressive distributed lag (ARDL) technique; because this method has been recently developed and has different advantages as compared to time series methods. ARDL method was applied to scrutinize the long run and the short run effect of worker remittances on Pakistan’s economy. This study concluded that Pakistan’s economy is positively affected by remittance inflow, foreign direct investment and the gross domestic saving in the long run, while Pakistan’s economy negatively affected by inflation and consumption in the long run. Remittances received from immigrant support economic growth in Pakistan because remittances inflow is mostly utilized for investment purpose. To further improve the economic development of Pakistan’s economy, it is suggested that policy maker in Pakistan encourage and motivate migrants to send remittances through proper channels to Pakistan, so that these inflows of remittances be used in such profitable investments that help to improve economic growth.

scholarly journals The impact of FDI on Nigeria’s export performance: a sectoral analysis

2018 ◽  
Vol 45 (5) ◽  
pp. 1088-1103 ◽  
Author(s):  
Obiora G. Okechukwu ◽  
Glauco De Vita ◽  
Yun Luo
Keyword(s):  
Service Sector ◽  
Manufacturing Sector ◽  
Export Performance ◽  
Content Type ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Oil Exports ◽  
The Impact ◽  
Sectoral Fdi

Purpose The purpose of this paper is to examine the foreign direct investment (FDI)–exports relationship in Nigeria using disaggregated FDI and export data. Design/methodology/approach This paper applies the autoregressive distributed lag cointegration approach in examining the long-run relationship between FDI and exports. Findings The results suggest that aggregate FDI has a positive and statistically significant long-run impact on total exports. Once exports are disaggregated into oil and non-oil exports, the positive, cointegrating relationship holds only for oil exports. When disaggregated by sector, primary sector and manufacturing sector FDI have a positive and significant long-run relationship with both total exports and oil exports but service sector FDI does not appear to have any significant influence on Nigerian exports. Originality/value This is the first paper that employs both sectoral FDI and disaggregated export data to examine the FDI–exports nexus in Nigeria.

Foreign Direct Investment and Growth Nexus: Further Evidence from Africa’s Largest Economy

2021 ◽  
Vol 13 (1) ◽  
pp. 65-78
Author(s):  
Anthony Orji ◽  
Godson Umunna Nwagu ◽  
Jonathan E. Ogbuabor ◽  
Onyinye I. Anthony-Orji
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
Labour Force ◽  
Jel Classification ◽  
Least Square ◽  
Ordinary Least Square ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run

The study investigated the effect of foreign direct investment (FDI) on economic growth in Nigeria, which is currently Africa’s largest economy, and also determined the long-run relationship between FDI and economic growth in Nigeria from 1981 to 2017. The study adopted the autoregressive distributed lag modelling approach and ordinary least square in the analysis. The empirical results revealed that FDI has a positive and significant relationship with economic growth in Nigeria within the period under review. The study concluded and recommended that Nigerian Government should formulate policies that will attract more FDI in all sectors of the economy especially in the service and manufacturing sectors, so as to improve the infrastructural facilities and production of goods in the country and also expand its labour force. Finally, there is need to improve the educational policy of the country in order to raise the stock of human capital in the country that will make useful policies for the attraction for productive FDIs in the country. JEL Classification: E22, F21, F23, F43

scholarly journals Inward Foreign Direct Investment and Trade Openness in Vietnam: A Nonlinear Autoregressive Distributed Lag Approach

Economies ◽  
2021 ◽  
Vol 9 (3) ◽  
pp. 120
Author(s):  
Jen-Yao Lee ◽  
Ya-Chuan Hsiao ◽  
Ngochien Bui ◽  
Tien-Thinh Nguyen
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Trade Openness ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
Inward Foreign Direct Investment ◽  
Nonlinear Autoregressive ◽  
Foreign Direct Investment Inflows

This study aims to examine the asymmetric relationship between trade openness and FDI (foreign direct investment) inflows to Vietnam by using NARDL (nonlinear autoregressive distributed lag) during the period from 1997 to 2019. Our findings show that the influence of FDI on trade openness is asymmetric in the short-run and long-run. But the influence of trade openness on FDI is symmetric in the short-run and asymmetric in the long run.

scholarly journals Investigating the Nexus between Productivity and Export Performance of Pakistan

2018 ◽  
Vol III (II) ◽  
pp. 94-104
Author(s):  
Asma Saeed ◽  
Zahoor Ul Haq ◽  
Javed Iqbal
Keyword(s):  
Positive Impact ◽  
Export Performance ◽  
Secondary Data ◽  
Production Costs ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Manufacturing Sectors ◽  
Bound Test ◽  
Ardl Bound Test

An increase in productivity has been associated with better export performance by increasing the efficiency of the factors of production. Further, productivity leads to a reduction in production costs and an increase in comparative advantage in the international market. In this study, the Autoregressive distributed lag (ARDL) bound test is used to investigate the nexus between productivity and export performance of agricultural and manufacturing sectors of Pakistan. The study uses secondary data from 1990 to 2016 to estimate the total factor productivity (TFP) and then uses it as a proxy of productivity. Our results show that TFP and gross domestic product (GDP) have a significant and positive impact on the export performance of Pakistan. Foreign direct investment (FDI), real exchange rate and cost to export are found to be negatively related to Pakistans export performance. In the long run, both the sectors (agricultural and manufacturing) need improvement in productivity in order to be competitive in intentional markets.

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