Article1995

Export Performance and Economic Development: An Empirical Analysis

37 citations0/0 files storedThe American Economist

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Global trade and economics Economic Theory and Policy Economic and Technological Innovation

Abstract

This paper challenges the results of the empirical literature in support of the neoclassical theory of export-led growth and provides a theoretical and empirical alternative. Contrary to the neoclassical theory, we argue that both exports and economic growth are preceded by a long and complex process of structural change and economic development. A cross-section regression analysis is applied to test the neoclassical hypothesis that exports lead to superior economic performance (higher growth of output), and our alternative thesis. The regression results strongly confirm our alternative formulation of exports and economic growth while failing to support the neoclassical thesis.

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References

1969Investigating Causal Relations by Econometric Models and Cross-spectral Methods 1983On exports and economic growth 1953Economic Development and Cultural Change 1988Handbook of development economics 1986Industrialization and Growth: A Comparative Study 1985Exports, growth and causality in developing countries 1977Exports and growth 1985Exports, policy choices, and economic growth in developing countries after the 1973 oil shock

Cited by

2007The interactions among foreign direct investment, economic growth, degree of openness and unemployment in Taiwan 2006The dynamic interactions among foreign direct investment, economic growth, exports and unemployment: evidence from Taiwan 2017Exports, capital formation and economic growth in South Africa 2006Export-led Growth: Application to China's Provinces, 1978–2001

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