Does What Countries Export Matter? The Asian And Latin American Experience
AbstractThe present paper examines the differences in growth performances of Asia and Latin America, in particular, the roles of trade and institutions in explaining the differential growth experiences of the two regions. In examining trade policy instruments as a plausible explanation of growth divergence, we have focused on the emerging pattern and composition of export baskets in the two regions and regional integration and accession to WTO. In a GMM dynamic panel estimation for the period 1975-2005, though it is found that diversification and composition of exports have significant impacts on economic growth in both the regions, diversification within the manufacturing sector is important for Asia only. The common determinants of growth in the two regions are exports, investment, public debt and human capital. On the other hand, the differentiating factors on the diverging growth experiences of Asia and Latin America are infrastructure, regional integration and institutional aspects like patent protection, and WTO.
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Bibliographic InfoArticle provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.
Volume (Year): 37 (2012)
Issue (Month): 3 (September)
: Economic Growth; Export Diversification; Export Composition; High Technology Exports; Infrastructure; Human Capital; Patent; IPR; Regional Integration; WTO;
Find related papers by JEL classification:
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- O34 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Intellectual Property Rights
- O43 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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