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Trade liberalisation and economic growth in Fiji : an empirical assessment using the ARDL approach

journal contribution
posted on 2005-02-01, 00:00 authored by Paresh Narayan, R Smyth
This study investigates the effect of trade liberalization on economic performance in Fiji using a Cobb-Douglas production function, which is expanded to take into account political instability and trade liberalization. The long run results conform to theoretical expectations, except for the contribution of labour force, which is negatively related to real Gross Domestic Product. We attribute this to the rapid and consistent emigration of skilled labour following the 1987 coups. While human capital was found to be the most influential variable, exports and investment were found to be weakly related to Gross Domestic Product. The key finding is that the dummy variable for signing the IMF agreement in 1984 had a statistically significant positive effect on real Gross Domestic Product in the long run, but the short run effects of signing the agreement as well as the short run and long run effects of implementing the agreement in 1986 were statistically insignificant.

History

Journal

Journal Of Asian pacific economy

Volume

10

Issue

1

Pagination

96 - 115

Publisher

Routledge

Location

London, England

ISSN

1354-7860

eISSN

1469-9648

Language

eng

Publication classification

C1.1 Refereed article in a scholarly journal

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