- Wollongong, New South Wales, Australia
Kankesu Jayanthakumaran
University of Wollongong, Commerce, Faculty Member
This paper intends to show the impact that a resource boom can have on non-resource firms by testing the hypotheses pertaining to the shifts in labour productivity of non-resource heterogeneous firms in Mongolia during the resource boom... more
This paper intends to show the impact that a resource boom can have on non-resource firms by testing the hypotheses pertaining to the shifts in labour productivity of non-resource heterogeneous firms in Mongolia during the resource boom of 2007 and 2011. Non-parametric methods such as Kernel distribution and Kolmogorov-Smirnov equality test are used to show that during this boom period, while low-productivity firms in the non-resource sector improved productivity, highly productive firms experienced a decline in productivity; the net effect is a downturn of aggregate productivity in the non-resource sector that is consistent with the existing macro perspective of resource curse hypothesis. The exporting sector experienced a similar result whereby high productive exporters lose productivity and therefore export competency during this resource boom. In reality, highly productive firms actually generate spillovers, so any decline in their productivity harms the nations’ growth in the long run. Future work should focus on gathering panel data sets and applying a more in-depth analysis of resource-cursed countries.
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Research Interests: Textiles and Industries
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Research Interests: Convergence and Income
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This paper documents differences in the levels and growth rates of manufactured exports across the Australian states and territories over the period 1989/90 - 2000/01 and then re-interprets these differences using shift-share analysis.... more
This paper documents differences in the levels and growth rates of manufactured exports across the Australian states and territories over the period 1989/90 - 2000/01 and then re-interprets these differences using shift-share analysis. Our results suggest that the relative changes in state exports of manufactured goods have been substantial and seem in large part due to state specific characteristics that impact on state competitiveness.
This paper briefly describes the major reforms to Australian trade policy over the last 30 years and then explores whether these reforms have increased manufactured exports across 141 manufacturing branches over the period 1989/90 to... more
This paper briefly describes the major reforms to Australian trade policy over the last 30 years and then explores whether these reforms have increased manufactured exports across 141 manufacturing branches over the period 1989/90 to 2000/01. We find that the declining level of protection over this period is associated with increased exports.
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The Passenger Motor Vehicle (PMV) industry in Australia experienced extensive trade reforms in the late 1980s which were expected to promote a competitive PMV industry. This paper tests the hypotheses that decreasing protection have had a... more
The Passenger Motor Vehicle (PMV) industry in Australia experienced extensive trade reforms in the late 1980s which were expected to promote a competitive PMV industry. This paper tests the hypotheses that decreasing protection have had a significant effect on production, imports, exports, labour productivity and organizational innovations (A1); and this effect is particularly evident since 1988 (A2). We have used cointegration analysis to test the hypothesis (A1) and the Chow test for (A2). Our study confirms our two hypotheses.
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This paper is an appraisal of the impact of Australian trade liberalization measures on imports, exports, productivity, and internal demand of the passenger motor vehicle industry. There is clear evidence that this liberalization has... more
This paper is an appraisal of the impact of Australian trade liberalization measures on imports, exports, productivity, and internal demand of the passenger motor vehicle industry. There is clear evidence that this liberalization has increased the volume of trade, imports, exports, and productivity, but reduced the locally produced cars for internal consumption. Various models are constructed and applied. Thus, this paper is an application of the bounds testing procedure based on the ARDL approach to cointegration and the comparison of the latter with the OLS and Johansen’s cointegration methods in the contexts of small samples.
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This paper investigates the impact of the Australia-New Zealand Closer Economic Relations (CER) Trade Agreement on bilateral trade of each member country by using historical time series data before and after the implementation of the CER.... more
This paper investigates the impact of the Australia-New Zealand Closer Economic Relations (CER) Trade Agreement on bilateral trade of each member country by using historical time series data before and after the implementation of the CER. We determined the existence of endogenously determined structural breaks over the last 30 years. The Vogelsang (1997) Wald-type testing procedure is then used to test for the existence of a break at an unknown time in the trend function of the dynamic time series. The advantage of this model is that the procedure does not impose any restriction on the nature of the data since it allows for either trending or unit root series, or both, in the model. Using a Wald-type test for detecting breaks in the trend function of a univariate time series, we found that a significant trend break detected in New Zealand in 1988 coincided with the extensive review of the CER in 1988
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It was hypothesised that trade and investment liberalisation in China had a short term negative effect on the environment and a long term positive effect based on the assumption that externality can be internalised and that an... more
It was hypothesised that trade and investment liberalisation in China had a short term negative effect on the environment and a long term positive effect based on the assumption that externality can be internalised and that an environmental Kuznets curve (EKC) exists in China. To test this hypothesis, a modified version of Dean’s (2002) simultaneous model using a sample as a whole, and a disaggregated sample based on above and below the turning point income of EKC was adopted. The results from the overall sample showed that for air pollutant (SO2) and water pollutant (COD), the scale effects outweigh the technique effects, which is evidence for the pollution haven hypothesis. The split sample provided limited support for the EKC hypothesis because at the provincial level, a rising income via an increased level of international trade was associated with falling emissions due to the technique effect, so that rising income among the provinces tends to show a superior performance. The p...
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This paper examines the association between government policy interventions, Foreign Direct Investment (FDI) and exports in Taiwan and China by applying the LP (Lumsdaine and Papell, 1997), approach allowing two endogenous structural... more
This paper examines the association between government policy interventions, Foreign Direct Investment (FDI) and exports in Taiwan and China by applying the LP (Lumsdaine and Papell, 1997), approach allowing two endogenous structural breaks. This paper further explores the cointegrating relationship between FDI and exports in Taiwan by using the Johansen and Juselius (1990) approach and causal relationships between FDI and
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This paper examines the association between government policy interventions, Foreign Direct Investment (FDI) and exports in Taiwan and China by applying the LP (Lumsdaine and Papell, 1997), approach allowing two endogenous structural... more
This paper examines the association between government policy interventions, Foreign Direct Investment (FDI) and exports in Taiwan and China by applying the LP (Lumsdaine and Papell, 1997), approach allowing two endogenous structural breaks. This paper further explores the cointegrating relationship between FDI and exports in Taiwan by using the Johansen and Juselius (1990) approach and causal relationships between FDI and exports in both Taiwan and China by using the Granger causality tests respectively. We found that significant trend breaks in the FDI and export time series detected in both countries coincided with extensive government interventions, mainly in the form of Export Processing Zones (EPZ), encouraging FDI during a transition period from import substitution to export orientation. The results emerging from our research indicate no long-run cointegrating relationship in Taiwan and one-way causal relationship flows from exports to FDI in China and FDI to exports in Taiwa...
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Trade liberalization is expected to increase imports but also exports via reduced input costs and increased domestic competition. This paper investigates whether this is the case for Australian manufactured goods. We begin by briefly... more
Trade liberalization is expected to increase imports but also exports via reduced input costs and increased domestic competition. This paper investigates whether this is the case for Australian manufactured goods. We begin by briefly describing the trends in the effective rate of protection, imports and exports in Australia over the last 30 years and then investigate the existence of major structural breaks in the imports and exports series by applying the Zivot and Andrews (1992 )test, using annual time series data from 1968/69 to 2003/2004. We find that a significant structural break occurred for imports in 1988/1989, which coincides with the introduction of major trade liberalization policy. We also find a significant structural break for exports with the three-year lag in 1992/1993.
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From the 1950s to the early 1970s, Sri Lankan governments pursued controls on the financial sector and have further reduced controls since 1977. This article links those financial sector reforms (falling controls) and the financial sector... more
From the 1950s to the early 1970s, Sri Lankan governments pursued controls on the financial sector and have further reduced controls since 1977. This article links those financial sector reforms (falling controls) and the financial sector performance of Sri Lanka by testing hypotheses estimating cointegration with the ordinary least square (OLS)-based auto regressive distributed lag (ARDL) approach. Results show limited support for the liberalization and efficiency hypotheses that falling controls are associated with widening the financial sector and motivating investments. Results provide no support for the hypotheses that falling control is associated with deepening and improving the financial sector.
This paper explores India’s recent economic reforms and associated state-level income convergence/divergence by applying stochastic and beta-convergence tests. Although approximately half the states were converging to the national average... more
This paper explores India’s recent economic reforms and associated state-level income convergence/divergence by applying stochastic and beta-convergence tests. Although approximately half the states were converging to the national average during the postbreak period, the evidence required to show that income convergence due to many poorer states not catching up with the rich ones is inadequate. Those poorer states need special attention before further liberalisation.
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This paper reviews structural changes in the economies and the differences in the levels of sulphur dioxide (SO2), nitrogen oxide (NOx), carbon monoxide (CO) and particulate matter (PM) in eight Australian states and territories over the... more
This paper reviews structural changes in the economies and the differences in the levels of sulphur dioxide (SO2), nitrogen oxide (NOx), carbon monoxide (CO) and particulate matter (PM) in eight Australian states and territories over the period 1998–99 to 2007–08. It then examines these differences using shift-share analysis. Shift-share analysis decomposes the source of the change of a emission between two periods of time into three parts (the national share component, an industry mix component and a regional shift component) in order to account for the states and territories ecological competitiveness. The results suggest that the changes in state emissions have been substantial, and tend to reflect national, industry and regional policy changes.
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This paper investigates dynamic aspects of labour market adjustment in Australia during 1989/90 and 2000/01 due to extensive trade reforms and associated developments in intra-industry trade. In view of the foregoing, it was hypothesised... more
This paper investigates dynamic aspects of labour market adjustment in Australia during 1989/90 and 2000/01 due to extensive trade reforms and associated developments in intra-industry trade. In view of the foregoing, it was hypothesised that trade reforms have had a positive impact on employment to the extent that trade flows are intra-industry. We do find that declining protection over this period is associated with increased employment to the extent that trade flows are intra-industry.
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This research recognises firm heterogeneity theories and uses the extensive transaction-level data of customs to analyse the export success of Bangladesh at the level of annual activity of individual exporters during the period 2004–2011.... more
This research recognises firm heterogeneity theories and uses the extensive transaction-level data of customs to analyse the export success of Bangladesh at the level of annual activity of individual exporters during the period 2004–2011. It identifies the network of peer exporters as a significant factor that promotes export success in both direct and indirect channels. As well as the financial system reported in earlier studies, this study finds the formation of human capital as another influential candidate for an indirect channel. Our findings also suggest that at the exporter’s level, experience with destination and products, initial exports and the level of competency with products contribute significantly to the success of new exports. More importantly, for Bangladeshi exporters, the effect of destination experience is stronger than that of product experience.