2007•RePEc: Research Papers in EconomicsOpen access

The Estimation of the Cointegration Relationship between the Economic Growth, Investments and Exports. The Romanian Case

Marius-Corneliu Marinaș

Abstract

This paper attempts to analyze the relationship between exports, investments and economic growth in Romania. For the search of this relationship I use a multivariate autoregressive VAR model. The results of cointegration analysis showed that there is one cointegrated vector among exports, investments and economic growth. Granger causality tests based on error correction models (ECM) have indicated that investment and export influences the steady-state level of GDP.

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Key concepts: Cointegration, Economics, Autoregressive model, Romanian, Granger causality, Econometrics, Investment (military), Error correction model