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Exports, Inflation, and Growth

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  • Thorvaldur Gylfason

Abstract

This paper identifies some of the main determinants of exports and economic growth in cross-sectional data from the World Bank, covering 160 countries in the period 1985-1994. First, the linkages between the propensity to export and population, per capita income, agriculture, primary exports, and inflation are studied by statistical methods. Then, the relationship between economic growth and some of the above-mentioned determinants of exports and investment are scrutinized the same way. The main conclusion is that, in the period under review, high inflation and an abundance of natural resources tended to be associated with low exports and slow growth.

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Bibliographic Info

Paper provided by International Monetary Fund in its series IMF Working Papers with number 97/119.

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Length: 39
Date of creation: 01 Sep 1997
Date of revision:
Handle: RePEc:imf:imfwpa:97/119

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Keywords: Economic growth; inflation; export ratio; closed economies; open economies; high inflation; export ratios; endogenous growth; rate of inflation; average inflation; price stability; inflation rate; political economy; average rate of inflation; inflation rates; monetary economics; per capita income; average inflation rate; increase in inflation; effects of inflation; international trade; world economy; east asian miracle; export equations; world output; annual inflation; conditional convergence; external trade; world trade; export share; export performance; foreign trade; effect of inflation; import substitution; domestic market; closed ? economies; internal trade; open ? economies; moderate inflation; transition economies; trade liberalization; economic divergence; trading opportunities; printing money; increased trade; global integration; oil exporters; inflation tax rate; inflation crises; real interest rates; monetary phenomenon; open economy; endogenous growth theory; world exports; economic integration; inflation tax;

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References

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  1. Fischer, Stanley, 1993. "The role of macroeconomic factors in growth," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 485-512, December.
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  18. Gylfason, Thorvaldur, 1998. "Output gains from economic stabilization," Journal of Development Economics, Elsevier, vol. 56(1), pages 81-96, June.
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Citations

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Cited by:
  1. Thorvaldur Gylfason, 2001. "Resources, Agriculture, and Economic Growth in Economies in Transition," Development and Comp Systems 0012006, EconWPA.
  2. Aiello, Francesco, 2002. "Financial stabilization systems, economic growth of developing countries and EU’s STABEX," MPRA Paper 38099, University Library of Munich, Germany.
  3. Thorvaldur Gylfason & Gylfi Zoega, 2001. "Natural Resources and Economic Growth: The Role of Investment," EPRU Working Paper Series 01-02, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
  4. Thorvaldur Gylfason, 2001. "Natural Resources and Economic Growth: What Is the Connection?," CESifo Working Paper Series 530, CESifo Group Munich.
  5. Gylfason, Thorvaldur & Herbertsson, Tryggvi Thor, 1996. "Does Inflation Matter for Growth?," CEPR Discussion Papers 1503, C.E.P.R. Discussion Papers.
  6. Kuo, Chun-Chien & Yang, Chih-Hai, 2008. "Knowledge capital and spillover on regional economic growth: Evidence from China," China Economic Review, Elsevier, vol. 19(4), pages 594-604, December.
  7. Ubaidillah, Nur Zaimah & Ab. Rahim, Rossazana, 2012. "A Multivariate Cointegration Analysis Of The Role Of Exports To Main Trading Partners In The Malaysian Macroeconomics," MPRA Paper 39706, University Library of Munich, Germany.
  8. Kristjánsdóttir, Helga, 2008. "Exports under the Flicker of the Northern Lights," Economics Discussion Papers 2008-17, Kiel Institute for the World Economy.
  9. Anaman, Kwabena A., 2004. "Determinants of economic growth in Brunei Darussalam," Journal of Asian Economics, Elsevier, vol. 15(4), pages 777-796, August.
  10. Efthymios Tsionas, 2003. "Inflation and Productivity in Europe: An Empirical Investigation," Empirica, Springer, vol. 30(1), pages 39-62, March.
  11. Reppas, Panayiotis A. & Christopoulos, Dimitris K., 2005. "The export-output growth nexus: Evidence from African and Asian countries," Journal of Policy Modeling, Elsevier, vol. 27(8), pages 929-940, November.
  12. Raihan, Selim, 2004. "Trade Barriers in a Global Perspective," Centre on Regulation and Competition (CRC) Working papers 30618, University of Manchester, Institute for Development Policy and Management (IDPM).
  13. Dimitris K. Christopoulos & Efthymios G. Tsionas, 2005. "Productivity growth and inflation in Europe: Evidence from panel cointegration tests," Empirical Economics, Springer, vol. 30(1), pages 137-150, January.
  14. Audrey Liwan & Evan Lau, 2007. "Managing Growth: The Role of Export, Inflation and Investment in Three ASEAN Neighboring Countries," The IUP Journal of Managerial Economics, IUP Publications, vol. 0(4), pages 7-16, November.
  15. Tom Crowards, 2002. "Defining the category of 'small' states," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(2), pages 143-179.

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