Testing The Export-Led Growth Hypothesis: An Example of MINT Countries

One of the ultimate goals of national economies is the realization of growth. A significant portion of the growth is composed of exports in the balance of payments. As the increase in exports led to an increase in income, the effect of exports on growth was indicated as positive. This situation revealed the hypothesis of export-led growth. This hypothesis has been tested for many countries and different results have emerged. In our study, export-led growth hypothesis have examined for MINT countries (Mexico, Indonesia, Nigeria, Turkey). The scope of the period has 1960-2016 and the method of Toda-Yamamoto Causality has used. Results showed that the hypothesis was accepted at the 10% significance level for Tukey and at 1% significance level for Mexico. However, the hypothesis for Indonesia and Nigeria has been rejected. According to these results, it is recommended that Indonesia, Nigeria and even Turkey should review their export policies. Thus, it is suggested that branding and marketing strategies regarding export products should be identified effectively