مجلة الباحث
Volume 19, Numéro 1, Pages 563-576
2019-12-29
Authors : Hicham Ayad . Mostéfa Belmokaddem .
This study investigates the direct impact of terms of trade on economic growth in Maghreb countries from 1990 to 2017, so as to be able to test the Harberger-Laursen-Metzler effect, using various econometric techniques for panel data analysis as the modern unit root test PSCADF (2006), the Pedroni and Kao tests for co-integration in addition to Westerlund (2007, 2008) test with bootstrap technique, and finally the Dumitrescu-Hurlin (2012) non-causality test, the results shows that there is no evidence of any co-integration relationship between the variables, and there is a small effect from the TOT to economic growth whereas any increase in the TOT index by 10% causes an increase in GDP by 0.217% vice versa, the results also shows that there is no evidence of any causality from terms of trade to economic growth in contrast of a uni-directional causality running from terms of trade to trade openness, and for the Harberger-Laursen-Metzler effect (HLM effect) the results reveals a weak effect with economic growth and trade openness.
Terms of Trade ; HLM effect ; Co-Integration ; Causality
بوسالم أحلام
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عابد يوسف
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ص 117-132.
Yahia Zeghoudi
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pages 74-88.
مبرك كامل
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مكيد علي
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ص 76-89.
Madani Houssam Eddine
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Hadj Ahmed Mohamed
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ص 321-336.
بوخدوني جازية
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الدكتور.ساطور رشيد
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ص 62-80.