Is the Export-led Growth Hypothesis Valid for Industrialized Countries?
AbstractThe comovement between exports and productivity observed in many countries suggests a direct link between these two variables. This paper tries to establish whether such a causal link exists for four developed market economies, using co-integration and Granger-causality techniques. These techniques offer a means to overcome serious problems encountered in previous attempts to examine this relationship, while recent trade theory suggests that the relationship between trade and productivity is fundamentally ambiguous. Both reasons call for more empirical evidence. The findings of the econometric analysis suggest that exports, productivity and the terms of trade move together in the long run in all countries except the United Kingdom.
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Bibliographic InfoPaper provided by University of Munich, Department of Economics in its series Munich Reprints in Economics with number 3112.
Date of creation: 1992
Date of revision:
Publication status: Published in Review of Economics & Statistics 4 74(1992): pp. 678-688
Other versions of this item:
- Marin, Dalia, 1992. "Is the Export-Led.Growth Hypothesis Valid for Industrialized Countries?," The Review of Economics and Statistics, MIT Press, vol. 74(4), pages 678-88, November.
- Marin, Dalia, 1990. "Is the Export-Led Growth Hypothesis Valid for Industrialized Countries?," CEPR Discussion Papers 362, C.E.P.R. Discussion Papers.
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