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Export composition and economic growth in the Andean Community of Nations

Author

Listed:
  • Silvia Reyes
  • Sergio Jiménez

Abstract

This paper analyzes the relation between export composition and economic growth. Based on the structure developed by Feder (1983) and Crespo-Cuaresma and Wörz (2005), we develop a panel data model involving Bolivia, Colombia, Ecuador, Peru and Venezuela, member countries of the Andean Community (except Venezuela since 2011), during 1970-2009. The analysis was made for the countries both jointly and individually using the SURE method, then focusing on the degree of disaggregation of exports, and finally grouping exports according to the level of technological intensity. The results suggest that the influence of the export structure is different across countries and is divided between different types of exports; but the majority of the exports that affect positively and significantly economic growth in the Andean Community countries correspond to the manufacturing industry and high technology, and they do so via externality effect

Suggested Citation

  • Silvia Reyes & Sergio Jiménez, 2012. "Export composition and economic growth in the Andean Community of Nations," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 77, pages 53-90.
    • Handle: RePEc:lde:journl:y:2012:i:77:p:53-90
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    File URL: https://revistas.udea.edu.co/index.php/lecturasdeeconomia/issue/view/1332
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    More about this item

    Keywords

    Economic growth; panel data; SURE estimation; export composition; Andean Community;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean

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