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On Export Composition and Growth

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  • Jesús Crespo Cuaresma
  • Julia Wörz

    ()

Abstract

The effect of exports with different technological intensities on economic growth is estimated using a generalization of the model put forward by Feder (1983, "On Exports and Economic Growth", Journal of Development Economics 12, 59-73). The hypothesis that exports in technology-intensive industries have a higher potential for positive externalities coupled with higher productivity levels (due to higher rates of capitalisation) is tested using a comprehensive and detailed data set,covering 45 industrialised and developing countries and including exports of 33 industries over the time period 1981 to 1997. The estimation results, using a random effects model and employing an instrumental variables estimator, support the hypothesis of qualitative differences between high and low tech exports with respect to output growth. The superior performance of high tech exports stems from their positive productivity differential to the domestic sector, while the externality effect is not significant at any meaningful level of significance. The positive productivity differential is only significant for the subsample of developing countries. No significant effects were found to be present in the subsample of OECD member countries.

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Bibliographic Info

Article provided by Springer in its journal Review of World Economics.

Volume (Year): 141 (2005)
Issue (Month): 1 (April)
Pages: 33-49

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Handle: RePEc:spr:weltar:v:141:y:2005:i:1:p:33-49

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Keywords: Economic growth; exports; export composition; externalities;

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References

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  1. Levine, Ross & Renelt, David, 1991. "A sensitivity analysis of cross-country growth regressions," Policy Research Working Paper Series 609, The World Bank.
  2. Michaely, Michael, 1977. "Exports and growth : An empirical investigation," Journal of Development Economics, Elsevier, vol. 4(1), pages 49-53, February.
  3. Balassa, Bela, 1978. "Exports and economic growth : Further evidence," Journal of Development Economics, Elsevier, vol. 5(2), pages 181-189, June.
  4. Amable, Bruno, 2000. "International specialisation and growth," Structural Change and Economic Dynamics, Elsevier, vol. 11(4), pages 413-431, December.
  5. Thomas Hatzichronoglou, 1997. "Revision of the High-Technology Sector and Product Classification," OECD Science, Technology and Industry Working Papers 1997/2, OECD Publishing.
  6. Baltagi, Badi H., 1981. "Simultaneous equations with error components," Journal of Econometrics, Elsevier, vol. 17(2), pages 189-200, November.
  7. Feder, Gershon, 1983. "On exports and economic growth," Journal of Development Economics, Elsevier, vol. 12(1-2), pages 59-73.
  8. Krueger, Anne O, 1980. "Trade Policy as an Input to Development," American Economic Review, American Economic Association, vol. 70(2), pages 288-92, May.
  9. Michael Peneder, 2002. "Industrial Structure and Aggregate Growth," WIFO Working Papers 182, WIFO.
  10. David Greenaway & Wyn Morgan & Peter Wright, 1999. "Exports, export composition and growth," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 8(1), pages 41-51.
  11. Fosu, Augustin Kwasi, 1990. "Export composition and the impact of exports on economic growth of developing economies," Economics Letters, Elsevier, vol. 34(1), pages 67-71, September.
  12. Balestra, Pietro & Varadharajan-Krishnakumar, Jayalakshmi, 1987. "Full Information Estimations of a System of Simultaneous Equations with Error Component Structure," Econometric Theory, Cambridge University Press, vol. 3(02), pages 223-246, April.
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Citations

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Cited by:
  1. Luca De Benedictis & Lucia Tajoli, 2005. "Similarity in export composition and catching-up," Working Papers 28-2005, Macerata University, Department of Finance and Economic Sciences, revised Oct 2008.
  2. Qun Bao & Puyang Sun & Jiayu Yang & Li Su, . "Does High-tech Export Cause More Technology Spillover? Evidence from Contemporary China," Discussion Papers 10/06, University of Nottingham, GEP.
  3. Horácio Faustino & Nuno Leitão, 2007. "Intra-Industry Trade: A Static and Dynamic Panel Data Analysis," International Advances in Economic Research, Springer, vol. 13(3), pages 313-333, August.
  4. Fouad Abou-Stait, 2005. "Working Paper 76 - Are Exports the Engine of Economic Growth? An Application of Cointegration and Causality Analysis for Egypt, 1977 - 2003," Working Paper Series 211, African Development Bank.
  5. Connie Bayudan-Dacuycuy, 2012. "The Philippine export portfolio in the product space: potentials, possibilities and policy challenges," Economics Bulletin, AccessEcon, vol. 32(1), pages 59-66.
  6. Gabriel Moser & Wolfgang Pointner & Gerhard Reitschuler, 2004. "Economic Growth in Denmark, Sweden and the United Kingdom since the Start of Monetary Union," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 4, pages 53–66.
  7. Amavilah, Voxi Heinrich, 2006. "The Economic Impact on the Dominican Republic of Baseball Player Exports to the USA," MPRA Paper 1672, University Library of Munich, Germany.
  8. Julie Byrne, 2010. "Output Collapse, Growth and Volatility in Sub-Saharan Africa: A Regime-Switching Approach," The Economic and Social Review, Economic and Social Studies, vol. 41(1), pages 21-41.

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