An Empirical Study on the Relationship between External Trade and Economic Growth ——take Liaoning province as an example
Wei Bang-rong
Abstract
Wei Bang-rong
Abstract
The relationship between external trade and economic growth in Liaoning is analyzed by applying co-integration analytical tools and Granger causality test.The study indicates that the relationship among the export,import and GDP keeps steady,and there is only single-direction Granger causality existed between export and GDP or import and GDP or TOT(total of export and import) and GDP.Economic growth in Liaoning is an export-oriented growth.Therefore,the export must be strengthened,at the same time,import trade should not be ignored.
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The relationship between external trade and economic growth in Liaoning is analyzed by applying co-integration analytical tools and Granger causality test.The study indicates that the relationship among the export,import and GDP keeps steady,and there is only single-direction Granger causality existed between export and GDP or import and GDP or TOT(total of export and import) and GDP.Economic growth in Liaoning is an export-oriented growth.Therefore,the export must be strengthened,at the same time,import trade should not be ignored.
Key concepts: Granger causality, Economics, Export trade, Causality (physics), International economics, External trade, International trade, Monetary economics