Theoretical and Applied Economics
No. 1 / 2025 (642), Spring
Macro analysis of linkages between export, import and economic growth: evidence from the Indian economy
Institute of Economic Growth, India
Rajendran S
The Gandhigram Rural Institute, India
Abstract. This paper examines the long run and short run relationship between export and import of goods and services and Gross Domestic Product (GDP) in India from 1991 to 2023 using cointegration analysis, Vector Autoregressive (VAR) test, VAR Granger Causality test and Impulse Response Function analyses. The Johansen cointegration tests find that, there is no consistent, long-term relationship between GDP, export, and imports. Further the result of VAR Granger causality Test shows that export cause effect GDP, Import cause effect GDP, and Export cause import, which confirm that causality between the variables.
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