An Empirical Analysis of Determinants of Swaziland
Keywords:
Cointegration, determinants, exchange rate, export, foreign direct investmentAbstract
The purpose of this study is to identify the fundamental factors that are key determinants in promoting the Swaziland export performance from 1980 to 2010. The study uses the cointegration technique to estimate both long run and short-run relationships among the variables under investigation and undertakes estimations in the error-correction model approach. The study found that foreign direct investment (FDI), world demand, and nominal exchange rate were key significant factors in determining the export performance at 1 per cent (p < 0.01) in the long run with elasticities of 0.58, 1.19 and 0.36 respectively, and at 5 per cent (p < 0.05) in the short run with coefficients of 0.26, 4.3 and 0.5, respectively. The real GDP and domestic demand have no statisticaleffect on Swaziland
References
A.S. Senhadji and C.E. Montenegro.
Cross-Country Analysis.
A.C. Jordaan and J.H. Eita.
Analysis.
Central Bank of Swaziland.
D. Gowland and C. Helm. International Economics. 1stedition London and Sydney, 1985.
H. Schenk and J. Theeuwes.
SEO Report, Amsterdam, 2002
W. Fang and S.M. Miller.
Economics Working Paper 2004-45, December 2004.
J. Kumar.Determinants of Export Growth in Developing Countries. Rutledge: New York, 1998.
Y. Chen, T. Liu, andW. Huo.
the Context of Financial Crisis
M.D.Moniruzzama, M.M. Toy, and A.B. Hassan.
Application of Cointegration and Vector Error Correction Approaches.
Economics and Financial Issues 1 vol.4, pp. 163-171, 2011
R. Engle and C. W. Granger.
Testing
M.T.Majeed and E. Ahmad.
Development Review, vol.3, pp. 1265-1276, 2006.
M.VanDijk.
Indonesian Manufacturing
Netherlands,February 2002.
M. Holden.
Rates: The Case of South Africa.
Durban, South Africa, 1985.
B.Sadia.
November 2006.
R. Piontkivsky.
Ukrainian Current Accounts
Ukraine, Ukraine, 1999.
A.McDowell.
C. Carrere.
of the Gravity Model
B. Pasaran, M. Hashem, and Y. Shin.An Auto Regressive Lag Modeling Approach to
CointegrationAnalysis. Centennial Volume of Ranger Frisch: Cambridge University Press, 1997
D.A. Dickey and W.A. Fuller.
UnitRoot
D.N. Gujarati and D.C. Porter.Basic Econometrics. 3rd ed. McGraw-Hill, New York, 2009
D. Mohanan.
M.A.Hassan and A.H. Khan.
Pakistan
E.O. Abolagba, N.Conyekwere, B.N. Agbonkpolor and H. Umar.
Exports inNigeria
Downloads
Published
How to Cite
Issue
Section
License
Authors who submit papers with this journal agree to the following terms.