Table 1: A Brief summary of recent studies.

Author(s) and dateVariable usedCountry, coverage, and methodFindings

Chimobi and Uche, 2010 [47]Gov’t consumption, household consumption, real GDP, and exportNigeria; annual data (1970–2005); VAR(i) No long-run equilibrium relationship
(ii) Export causes domestic demand
(iii) Bilateral causality between export and household consumption
Prasanna, 2010 [48]Inward FDI, total manufactured exports, high technology manufactured exports, and manufacturing value addedIndia; annual data (1991-92–2006-07); OLSFDI significantly influences exports
Martinez-Martin, 2010 [49]FDI, exports, domestic income, world income, and competitivenessSpain; annual data (1993–2008); VECMA positive Granger causality runs from FDI to exports in the long-run
Duasa, 2009 [50]Volume of exports and imports, REER, and trade balance Malaysia; annual data (1999–2006); TAR and M-TARA long-run asymmetric cointegration exists between REER and exports
Babatunde, 2009 [7]Merchandise exports, REER, average tariff rate, exchange rate, and imports of raw materialSub-Saharan Africa; annual data (1980–2005); panel-fixed effect and random effectREER stimulates exports
Njong, 2008 [51]Real exports, real GDP, REER, import over total international trade, export over total international trade, lag exports, and lag FDI stock Cameroon; annual data (1980–2003); AR (p)FDI and REER significantly influence exports
Wong, 2008 [52]GDP per capita, exports, private consumption, government consumption, and investmentASEAN 5; annual data (1960–1996); error correction, Granger causality(i) A long-run relationship exists between variables
(ii) Bidirectional Granger causality between exports and GDP; private consumption and GDP per capita
Mortaza and Narayan, 2007 [53]FDI inflows, import and export over GDP, M2/GDP, literacy rate, and domestic investment and inflationBangladesh, India, Pakistan, Sri Lanka, and Nepal; annual data (1980–2004); VAR, panel-fixed effect, and random effectUnidirectional relationship between FDI, trade liberalization and economic growth for Bangladesh and Pakistan
F. S. T. Hsiao and M. C. W. Hsiao, 2006 [20]Real FDI inflows, real GDP per capita, and real exportsChina, Korea, Hong Kong, Singapore, Taiwan, Malaysia, Thailand, and the Philippines; annual data (1986–2004); panel VARBidirectional causality between exports and GDP
Sahoo, 2006 [35]FDI, world income growth, infrastructure index, domestic demand, exports, REER, and GDP growthBangladesh, India, Pakistan, Sri Lanka, and Nepal; annual data (1975–2003); panel-fixed effectFDI positively influences exports
Arize, 1995 [21]Log real exports, log REER, and log real foreign income USA; monthly data (1971 : 2–1991 : 3); error correction, ARCH, and linear moment(i) A long-run equilibrium relationship exists.
(ii) Exchange rates and exports are negatively associated