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Learning by Exporting and Productivity-Investment Interaction: An Intertemporal General Equilibrium Analysis of the Growth Process in Thailand

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  • Xinshen DIAO
  • Jorn RATTSO
  • Hildegunn E. STOKKE

Abstract

While the discussion of Thailand and East Asian growth has been a controversy between capital accumulation and productivity stories, we analyze the general equilibrium interaction between productivity and investment in an intertemporal model. The model builds in endogenous productivity spillover effects influencing profitability and investment and produces long run growth effects of economic policy. To understand the growth process in Thailand, learning by exporting is assumed to be the main vehicle of international spillover and brings further productivity effects to the domestic economy. The dynamic simulations show how high economic growth is prolonged by multisector productivity and investment dynamics and structural shift from agriculture to exportables. The importance of trade liberalization is shown in a counterfactual analysis where protection holds back growth by serving as a barrier to productivity spillover.

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Bibliographic Info

Paper provided by European University Institute in its series Economics Working Papers with number ECO2002/25.

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Date of creation: 2002
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Handle: RePEc:eui:euiwps:eco2002/25

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  1. Andrew B. Bernard & J. Bradford Jensen, 2000. "Exporting and Productivity," Working Papers 00-07, Center for Economic Studies, U.S. Census Bureau.
  2. Ventura, Jaume, 1997. "Growth and Interdependence," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 57-84, February.
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  8. Jeffrey A. Frankel, David Romer and Teresa Cyrus., 1995. "Trade and Growth in East Asian Countries: Cause and Effect?," Center for International and Development Economics Research (CIDER) Working Papers C95-050, University of California at Berkeley.
  9. Mary Hallward-Driemeier & Giuseppe Iarossi & Kenneth L. Sokoloff, 2002. "Exports and Manufacturing Productivity in East Asia: A Comparative Analysis with Firm-Level Data," NBER Working Papers 8894, National Bureau of Economic Research, Inc.
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  13. Daron Acemoglu & Jaume Ventura, 2001. "The World Income Distribution," NBER Working Papers 8083, National Bureau of Economic Research, Inc.
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  15. Susan M. Collins & Barry P. Bosworth, 1996. "Economic Growth in East Asia: Accumulation versus Assimilation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 27(2), pages 135-204.
  16. Xinshen Diao & Terry L.Roe & Erinç Yeldan, 1996. "A Simple Dynamic Applied General Equilibrium Model of a Small Open Economy : Transitional Dynamics and Trade Policy," Departmental Working Papers 963, Bilkent University, Department of Economics.
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  19. Diao, Xinshen & Rattsø, Jørn & Stokke, Hildegunn Ekroll, 2002. "International spillovers, productivity growth and openness in Thailand," TMD discussion papers 89, International Food Policy Research Institute (IFPRI).
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Cited by:
  1. Michael Hübler, 2009. "Energy Saving Technology Diffusion via FDI and Trade: A CGE Model of China," Kiel Working Papers 1479, Kiel Institute for the World Economy.
  2. Hildegunn Ekroll Stokke & Jørn Rattsø, 2004. "Ramsey model of barriers to growth and skill-biased income distribution in South Africa," Working Paper Series 4604, Department of Economics, Norwegian University of Science and Technology, revised 07 Feb 2005.
  3. Hildegunn Stokke, 2004. "Technology adoption and multiple growth paths: An intertemporal general equilibrium analysis of the catch-up process in Thailand," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 140(1), pages 80-109, March.

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