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An Analysis of So-Called Export-led Growth

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  • Jie Yang

Abstract

The stylized fact that strong economic growth is usually accompanied with strong export growth leads many people to conclude that the export sector is the main driving force behind those episodes. The model in this paper, however, shows that the non-tradable sector may also generate high economic growth together with high export growth. Evidence shows that out of 71 "so-called" export-led growth episodes, only 37 of them are consistent with the "exports driving growth" hypothesis. Most of the remaining episodes (24 cases) experienced significant real exchange rate depreciation and are more likely to be characterized by "growth driving exports".

Suggested Citation

  • Jie Yang, 2008. "An Analysis of So-Called Export-led Growth," IMF Working Papers 2008/220, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2008/220
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    Cited by:

    1. Shafaeddin, Mehdi, 2010. "Trade liberalization, industrialization and development; experience of recent decades," MPRA Paper 26355, University Library of Munich, Germany.
    2. Duc Minh Pham & Deepak Mishra & Kee-Cheok Cheong & John Arnold & Anh Minh Trinh & Huyen Thi Ngoc Ngo & Hien Thi Phuong Nguyen, 2013. "Trade Facilitation, Value Creation, and Competiveness : Policy Implications for Vietnam's Economic Growth, Summary Report," World Bank Publications - Reports 16786, The World Bank Group.
    3. Tafirenyika Sunde & Cyril Ayetuoma Ogbokor, 2018. "The Effects of Exports in SACU Countries: An Empirical Analysis Using Panel Data," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 14(4), pages 142-155, AUGUST.
    4. Ndonga Dennis, 2013. "Increasing Africa’s Share of Vertical Investments through Single Window Systems," The Law and Development Review, De Gruyter, vol. 6(2), pages 181-215, August.
    5. Montfort Mlachila & René Tapsoba & Sampawende J. A. Tapsoba, 2017. "A Quality of Growth Index for Developing Countries: A Proposal," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 134(2), pages 675-710, November.
    6. Joseph LiPuma & Scott Newbert & Jonathan Doh, 2013. "The effect of institutional quality on firm export performance in emerging economies: a contingency model of firm age and size," Small Business Economics, Springer, vol. 40(4), pages 817-841, May.
    7. Adesola Ibironke, 2021. "Africa’s Trade with China and US: Has COVID-19 Changed the Trends of Trade?," Journal of Economic Impact, Science Impact Publishers, vol. 3(2), pages 55-66.
    8. Ana Oliveira Madsen & Valentina Chkoniya, 2019. "The Positive Impact of a Portuguese State-Owned Company that Invested on Consumers Nutritional Education - the Case of Fish and Docapesca," European Journal of Marketing and Economics Articles, Revistia Research and Publishing, vol. 2, September.
    9. Hany H. MAKHLOUF, 2016. "The Rewards and Challenges of Export-Led Strategies," Journal of Economics and Political Economy, KSP Journals, vol. 3(3), pages 440-445, September.
    10. Xiuping Ji & Feiran Dong & Chen Zheng & Naipeng Bu, 2022. "The Influences of International Trade on Sustainable Economic Growth: An Economic Policy Perspective," Sustainability, MDPI, vol. 14(5), pages 1-15, February.
    11. Mr. Marcelo Martinez & Mr. Montfort Mlachila, 2013. "The Quality of the Recent High-Growth Episode in Sub-Saharan Africa," IMF Working Papers 2013/053, International Monetary Fund.
    12. Kroll, Henning & Berghäuser, Hendrik & Blind, Knut & Neuhäusler, Peter & Scheifele, Fabian & Thielmann, Axel & Wydra, Sven, 2022. "Schlüsseltechnologien," Studien zum deutschen Innovationssystem 7-2022, Expertenkommission Forschung und Innovation (EFI) - Commission of Experts for Research and Innovation, Berlin.
    13. M. Herrerias & Vicente Orts, 2012. "Equipment investment, output and productivity in China," Empirical Economics, Springer, vol. 42(1), pages 181-207, February.
    14. Duc Minh Pham & Deepak Mishra & Kee-Cheok Cheong & John Arnold & Anh Minh Trinh & Huyen Thi Ngoc Ngo & Hien Thi Phuong Nguyen, 2013. "Trade Facilitation, Value Creation, and Competiveness : Policy Implications for Vietnam's Economic Growth, Volume 1," World Bank Publications - Reports 16784, The World Bank Group.
    15. Ashima Arora & Anjala Kalsie, 2018. "Impact of US Financial Crisis on GDP of BRICS Economies: An Analysis Using Panel Data Approach," Global Business Review, International Management Institute, vol. 19(2), pages 439-454, April.

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