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Influence of import tariffs, accumulation of FER and external debt on economic growth depending on stages of economic development

Author

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  • Godunova, M.

    (Savings Bank of Russian Federation (Sberbank), Moscow, Russia)

Abstract

This paper investigates the influence of import tariffs, external debt and speed of foreign reserves accumulation on economic growth. It follows from existing literature that these policies can have different influence on growth, depending on the relative stage of economic development. The author outlines three relative stages of economic development. It follows from the results of our research, that on the first stage growth is stimulated by increasing the exchange rate and accumulation of external debt. On the second stage lowering of exchange rate has positive influence on the growth. On the third stage influence of the above mentioned policies is insignificant.

Suggested Citation

  • Godunova, M., 2010. "Influence of import tariffs, accumulation of FER and external debt on economic growth depending on stages of economic development," Journal of the New Economic Association, New Economic Association, issue 5, pages 28-45.
  • Handle: RePEc:nea:journl:y:2010:i:5:p:28-45
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    References listed on IDEAS

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    More about this item

    Keywords

    Economic growth; institutes; foreign exchange reserves; external debt; import tariffs;

    JEL classification:

    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
    • O25 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Industrial Policy
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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