چکیده:
This paper attempted to examine the effects of foreign trade, energy consumption, human capital and physical capital on GDP in 8 can-didate developing countries and 8 candidate developed countries during 2002-2014.In this study, the effects of variables were estimated through panel cointegration technique and dynamic ordinary least squares (DOLS).The results of regression test indicated that all variables had significantly positive effects on the production process. Further details about the results were obtained by evaluating foreign trade in general (exports and imports combined), in addition to separately evaluating export and import, where there were significantly positive correlations evident over the period. In the candidate developed countries, the role of exports was more prominent than imports and total trade. In the can-didate developing countries, the role of imports was more prominent than exports and total trade.
خلاصه ماشینی:
This study intended to evaluate the effects of several variables, in- cluding foreign trade, energy consumption, human capital and physi- cal capital, on production rate in 8 candidate developing countries and eight candidate developed countries during 2002-2014 through panel cointegration and Dynamic Ordinary Least Squares (DOLS).
3. 2 Foreign Studies Apergis & Payne (2010) investigated the cointegration and causality relationships through Granger’s technique between energy consump- tion and economic growth in 9 South American countries during 1980-2005 using panel cointegration and error correction model.
4. Overview of the New Model In this article, the effects of foreign trade, energy consumption, human capital and physical capital on production were investigated for 8 candi- date developing countries1 and 8 candidate developed countries2 during 2002-20143.
According to the results in Tables (1) and (2), energy consumption, imports and GDP are stable at level (I(0)), while total trade (exports and imports combined), exports, human capital and physical capital are not stable and can be stabilized through a single differencing (I(1)).
6543-) Resource: Research Calculations Table 2: Results of Cointegration Test for Developing Countries Im, Pesaran & Shin (IPS) Test Variable LnE Intercept mode (at level) 0.
6. Conclusions and Policy Recommendations This study attempted to investigate the effect of foreign trade, energy consumption, human capital and physical capital on production rates in 8 candidate developing countries and 8 candidate developed coun- tries between 2002 and 2014.