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Structural change in exports and economic growth: cointegration and causality analysis for Spain (1961-2000)

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Author Info

  • Jacint Balaguer
  • Manuel Cantavella-Jorda

Abstract

The Spanish export-led growth hypothesis is re-examined from the trade liberalization process initiated four decades ago. For this purpose both the export expansion and the progression from 'traditional' exports to manufactured and semimanufactured exports are taken into consideration. A new evidence is reported for the above period. Alongside a feedback between aggregate exports and real output, it has been proved that the structural transformation in export composition has also become a key factor for Spain's economic development.

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File URL: http://www.tandfonline.com/doi/abs/10.1080/00036840410001682179
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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 36 (2004)
Issue (Month): 5 ()
Pages: 473-477

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Handle: RePEc:taf:applec:v:36:y:2004:i:5:p:473-477

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References

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  1. David Greenaway & David Sapsford, . "What does Liberalisation do for Exports and Growth?," Working Papers ec4/94, Department of Economics, University of Lancaster.
  2. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-37, October.
  3. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-72, June.
  4. Jordan Shan & Fiona Sun, 1998. "On the export-led growth hypothesis: the econometric evidence from China," Applied Economics, Taylor & Francis Journals, vol. 30(8), pages 1055-1065.
  5. Jacint Balaguer & Manuel Cantavella-Jorda, 2001. "Examining the export-led growth hypothesis for Spain in the last century," Applied Economics Letters, Taylor & Francis Journals, vol. 8(10), pages 681-685.
  6. Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March.
  7. Phillips, P.C.B., 1986. "Testing for a Unit Root in Time Series Regression," Cahiers de recherche 8633, Universite de Montreal, Departement de sciences economiques.
  8. Osterwald-Lenum, Michael, 1992. "A Note with Quantiles of the Asymptotic Distribution of the Maximum Likelihood Cointegration Rank Test Statistics," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 54(3), pages 461-72, August.
  9. Subrata Ghatak & Chris Milner & Utku Utkulu, 1997. "Exports, export composition and growth : cointegration and causality evidence for Malaysia," Applied Economics, Taylor & Francis Journals, vol. 29(2), pages 213-223.
  10. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
  11. Lourdes Moreno, 1997. "The determinants of Spanish industrial exports to the European Union," Applied Economics, Taylor & Francis Journals, vol. 29(6), pages 723-732.
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Citations

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Cited by:
  1. Shahbaz, Muhammad & Rahman, Mizanur, 2011. "Impact of economic growth and financial development on exports: Cointegration and causality analysis in Pakistan," MPRA Paper 28563, University Library of Munich, Germany.
  2. Shahbaz, Muhammad & Mohammad, Mafizur Rahman, 2014. "The Dynamics of Exports, Financial Development and Economic Growth in Pakistan: New Extensions from Cointegration and Causality Analysis," MPRA Paper 53225, University Library of Munich, Germany, revised 19 Jan 2014.
  3. Ann Harrison & Andrés Rodríguez-Clare, 2009. "Trade, Foreign Investment, and Industrial Policy for Developing Countries," NBER Working Papers 15261, National Bureau of Economic Research, Inc.
  4. Ferreira, Gustavo F.C. & Harrison, R. Wes, 2012. "From Coffee Beans to Microchips: Export Diversification and Economic Growth in Costa Rica," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 44(04), November.
  5. Abolghasem Mahdavi & Mehdi Fatemi, 2007. "An Investigation of the Impact of Non- Oil Exports on Economic Growth– Case of Iran," Iranian Economic Review, Economics faculty of Tehran university, vol. 12(2), pages 37-59, spring.
  6. 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.
  7. Ferreira, Gustavo F.C., 2009. "From Coffee Beans to Microchips: Export Diversification and Economic Growth in Costa Rica," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 47178, Southern Agricultural Economics Association.
  8. Ahdi N. Ajmi & Goodness C. Aye & Mehmet Balcilar & Rangan Gupta, 2013. "Causality between Exports and Economic Growth in South Africa: Evidence from Linear and Nonlinear Tests," Working Papers 201339, University of Pretoria, Department of Economics.

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