A Determination of the Linkages between Agricultural Exports and Economic Growth in the U.S.

• 영문명: A Determination of the Linkages between Agricultural Exports and Economic Growth in the U.S.
• 발행기관: 한국무역연구원
• 저자명: Hyun-Soo Kang
• 간행물 정보: 『무역연구』제9권 제4호, 551~568쪽, 전체 17쪽
• 주제분류: 경제경영 > 무역학
• 파일형태: PDF
• 발행일자: 2013.09.30

영문 초록

This paper attempts to analyze the relationship between major agricultural exports and economic growth in the U.S. economy. Using the annual data from 1961 to 2005, the static model utilizes the export led growth (ELG) hypothesis based on economic growth and major agricultural exports. In addition, in order to investigate the causal relationships, this paper adopts the dynamic models with respect to Impulse Response Function (IRF), Forecast Error Variation Decomposition (FEVD) and Granger causality tests based on the vector error correction model (VECM). The main findings of this paper point out the causal relationship between major agricultural exports and economic growth in the U.S. economy and support the ELG hypothesis in the cases of soybean, rice, cotton, and com exports. Therefore, the U.S. economy exists the evidence of ELG hypothesis, especially agricultural exports on economic growth, and the main importers of U.S. agricultural products are prepared for the increasing of U.S. agricultural exports.

목차

Abstract

Ⅰ. Introduction

Ⅱ. The Model

Ⅲ. The Results

Ⅳ. Summary and Conclusions

References

키워드

Export led growth Agricultural exports Vector error correction model Granger causality