Economic growth through development planning in Cyprus
1996
Charalambous, C.
The current study focuses on the agricultural sector of Cyprus, which is considered to be one of the most important sectors in the Cypriot economy. In the first part of the study we seek to analyse the results of economic growth through development planning in Cyprus was successful, according to the rates of growth of the main economic indicators such as GPD, exports, productivity and unemployment. The second part of the study consists of an application of cointegration and error correction modeling in order to investigate the casual relation between export growth and agricultural growth in the agricultural sector. The results of the application of cointegration indicates that a long-run relation between exports and economic growth exists. The implementation of error correction modelling implies that a short-run dynamic adjustment toward the long-run equilibrium exists.
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