This paper proposes estimating causalities in bilateral international trade in simultaneous systems, including domestic and foreign GDP as well as mutual trade flows. Conventional macroeconomic theory mainly follows partial approaches like import functions or exportled growth. Focusing on the US...

Disagreements persist on whether the Korean and Taiwanese economic miracle is export-led as advocated by market fundamentalists or investment-led as envisioned by the market interventionists. The Granger causality test has been conducted within the context of a VAR system comprised of exports,...