The effect of trade in cultural products on the economic growth of selected countries of the Shanghai Group

Abstract

The purpose of this study is to investigate the impact of trade in cultural products on the Gross Domestic Product (GDP) of the Shanghai Group member countries during the period 2004-2017. After examining the significance of the data and their co-integration with the Kao co-integration test, the model is estimated using the panel data method. Estimates show that assuming other factors are constant, the export, import and the volume of trade of these products of cultural products over time has a positive and significant effect on the GDP of the Shanghai Group countries. So that with a one percent increase in export, imports and trade volume of cultural products, 0.02, 0.07 and 0.05 percent of GDP, respectively, will increase. Therefore, this effect can be increased by adopting appropriate policies such as marketing and providing a suitable environment for industries to compete and increase their efficiency.

Keywords

• cultural products
• trade
• gross domestic product (gdp)
• shanghai cooperation organization
• kao cointegration test