文章基本信息

标题：Trade Openness and Economic Growth: A Panel Cointegration and Causality Analysis for the Newest EU Countries
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作者：Nikolaos Dritsakis ; Pavlos Stamatiou
期刊名称：The Romanian Economic Journal
印刷版ISSN：1454-4296
出版年度：2016
期号：59
页码：45
出版社：Editura ASE
摘要：This paper explores the relationship between trade openness and economic growth using data for the thirteen newest European Union members. The study covers the period of 1995–2013. We have applied panel cointegration and causality approaches to examine the long-run and the causal relationship between the variables. Empirical results confirm the presence of a cointegrating vector between trade openness and economic growth, in this group of the thirteen countries. An error correction model (ECM), followed by the two steps of Engle and Granger was used to capture the short and long-run dynamics. The impact of economic growth and trade openness is found to be positive. Finally, the panel Granger causality analysis reveals a unidirectional causal relationship running from trade openness to economic growth, both in the short and in the long-run.
关键词：trade openness ; economic growth ; Vector Error Correction Model ; panel cointegration ; Panel Causality .