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Capital goods imports and long run growth: Is the Chinese experience relevant to developing countries?

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Academic year: 2020

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Figure

Figure 1: Share of Imported Capital Goods over Total Imports (1957-2007)
Table 1A: Lee and Strazicich unit root tests (two structural breaks)  Levels  2 breaks  Statistic  Differences  2 breaks  Statistic  g(Y PC )  1977  -5.77  Δg(Y PC )  1979  -10.85*  2002  2004  I/Y  1987  -4.91  Δ( I/Y)  1988  -5.94*  2004  1999  M/Y  1984
Table 4: Short-run identification  Δg(Y PC ) t  Δg(N) t  Δ 2 HC t  0.16  -  (10.7)  ΔI/Y t  1.15  -  (6.70)  ΔI/Y t-1  -  -0.017  (-1.90)  ΔG/Y t-1  -  -0.042  (-4.14)  ΔFC/DC t  -  -0.08  (-4.99)  ECM t-1  -3.59  0.21  (-5.40)  (5.64)

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