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‘Export Led Growth’ x ‘Growth Led Exports’: What Matters for the Brazilian Growth Experience after Trade Liberalization?

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  • Araujo, Ricardo Azevedo
  • Soares, Cristiane

Abstract

In this paper we study the Brazilian growth experience after trade liberalization by testing both the Export Led Growth (ELG) and the Growth Led Exports (GLE) hypotheses through a causality test between exports and gross domestic output (GDP). The paper provides further evidence that after openness both ELG and GLE hypotheses are useful to explain the Brazilian growth experience.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 30562.

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Date of creation: 2011
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Handle: RePEc:pra:mprapa:30562

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Keywords: Export led growth; Growth Led Exports; Thirlwall’s law; Granger causality test.;

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  1. Mauricio Mesquita Moreira & Sheila Najberg, 2000. "Trade liberalisation in Brazil: Creating or exporting jobs?," Journal of Development Studies, Taylor & Francis Journals, vol. 36(3), pages 78-99.
  2. Campbell, John & Perron, Pierre, 1991. "Pitfalls and Opportunities: What Macroeconomists Should Know about Unit Roots," Scholarly Articles 3374863, Harvard University Department of Economics.
  3. Ricardo Azevedo Araujo & Gilberto Tadeu Lima, 2006. "A Structural Economic Dynamics Approach To Balance-Of-Payments-Constrained Growth," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting], ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of G 119, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
  4. Kunst, Robert M. & Marin, Dalia, 1989. "On Exports and Productivity: A Causal Analysis," Munich Reprints in Economics, University of Munich, Department of Economics 3113, University of Munich, Department of Economics.
  5. Yamada, Hiroshi, 1998. "A note on the causality between export and productivity:: an empirical re-examination," Economics Letters, Elsevier, Elsevier, vol. 61(1), pages 111-114, October.
  6. Jaleel Ahmad & Somchai Harnhirun, 1996. "Cointegration and Causality between Exports and Economic Growth: Evidence from the ASEAN Countries," Canadian Journal of Economics, Canadian Economics Association, vol. 29(s1), pages 413-16, April.
  7. Paul Krugman, 1988. "Differences In Income Elasticities and Trends in Real Exchange Rates," NBER Working Papers 2761, National Bureau of Economic Research, Inc.
  8. Ana Cuadros & Vicente Orts & Maite Alguacil, 2004. "Openness and Growth: Re-Examining Foreign Direct Investment, Trade and Output Linkages in Latin America," Journal of Development Studies, Taylor & Francis Journals, vol. 40(4), pages 167-192.
  9. H. Sonmez Atesoglu, 1997. "Balance-of-Payments-Constrained Growth Model and Its Implications for the United States," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 19(3), pages 327-335, April.
  10. Aamer Abu-Qarn & Suleiman Abu-Bader, 2004. "The validity of the ELG hypothesis in the MENA region: cointegration and error correction model analysis," Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 36(15), pages 1685-1695.
  11. A. P. Thirl Wall, 2001. "The Relation between the Warranted Growth Rate, the Natural Rate, and the Balance of Payments Equilibrium Growth Rate," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 24(1), pages 81-88, October.
  12. A. P. Thirlwall, 1997. "Reflections on the Concept of Balance-of-Payments-Constrained Growth," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 19(3), pages 377-385, April.
  13. Juan Carlos Moreno-Brid, 1999. "Mexico's Economic Growth and the Balance of Payments Constraint: A cointegration analysis," International Review of Applied Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 13(2), pages 149-159.
  14. Hubert Hieke, 1997. "Balance-of-Payments-Constrained Growth: A Reconsideration of the Evidence for the U.S. Economy," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 19(3), pages 313-325, April.
  15. Perron, P. & Ng, S., 1994. "Useful Modifications to Some Unit Root Tests with Dependent Errors and Their Local Asymptotic Properties," Cahiers de recherche, Universite de Montreal, Departement de sciences economiques 9427, Universite de Montreal, Departement de sciences economiques.
  16. Awokuse, Titus O., 2007. "Causality between exports, imports, and economic growth: Evidence from transition economies," Economics Letters, Elsevier, Elsevier, vol. 94(3), pages 389-395, March.
  17. Anthony Philip Thirlwall, 1979. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," BNL Quarterly Review, Banca Nazionale del Lavoro, Banca Nazionale del Lavoro, vol. 32(128), pages 45-53.
  18. Graham Elliott & Thomas J. Rothenberg & James H. Stock, 1992. "Efficient Tests for an Autoregressive Unit Root," NBER Technical Working Papers 0130, National Bureau of Economic Research, Inc.
  19. Serena Ng & Pierre Perron, 1997. "Lag Length Selection and the Construction of Unit Root Tests with Good Size and Power," Boston College Working Papers in Economics, Boston College Department of Economics 369, Boston College Department of Economics, revised 01 Sep 2000.
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