Export-led growth hypothesis: evidence for Chile
This study examines the export-led growth hypothesis using annual time series data from Chile. It addresses the problem of specification bias under which previous studies have suffered and focuses on the impact of manufactured and primary exports on the economic growth. In order to investigate if and how manufactured and primary exports affect economic growth via increases in productivity, the study uses the Toda and Yamamoto (1995) procedure for testing for Granger non-causality in Vector Autoregressive models that involve variables that are integrated in an arbitrary order and that are possibly cointegrated. The estimation results support the export-led growth hypothesis for Chile and at the same time point out to the differentiated impact of manufactured and primary exports on the economic growth.
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Volume (Year): 13 (2006)
Issue (Month): 5 ()
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References listed on IDEAS
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- Riezman, R.G. & Summers, P.M. & Whiteman, C.H., 1991.
"The Engine of Growth or Its Handmaiden? A Time Series Assessment of Export-Led Growth,"
92-27, University of Iowa, Department of Economics.
- Riezman, Raymond G & Whiteman, Charles H & Summers, Peter M, 1996. "The Engine of Growth or Its Handmaiden? A Time-Series Assessment of Export-Led Growth," Empirical Economics, Springer, vol. 21(1), pages 77-110.
- Riezman, R. & Whiteman, C. & Summers, P.M., 1995. "The Engine of Growth or Its Handmaiden? A Time Series Assessment of Export-Led Growth," Working Papers 95-16, University of Iowa, Department of Economics.
- Raymond Riezman & Charles Whiteman & Peter M. Summers, 1996. "The Engine of Growth or Its Handmaiden? A Time-Series Assessment of Export-Led Growth," GE, Growth, Math methods 9602002, EconWPA.
- Toda, Hiro Y. & Yamamoto, Taku, 1995. "Statistical inference in vector autoregressions with possibly integrated processes," Journal of Econometrics, Elsevier, vol. 66(1-2), pages 225-250.
- Titus O. Awokuse, 2003.
"Is the export-led growth hypothesis valid for Canada?,"
Canadian Journal of Economics,
Canadian Economics Association, vol. 36(1), pages 126-136, February.
- Awokuse, Titus O., 2002. "Is The Export-Lead Growth Hypothesis Valid For Canada?," Staff Papers 15823, University of Delaware, Department of Food and Resource Economics.
- Agosin, Manuel R., 1999. "Trade and growth in Chile," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.
- Amin Gutierrez de Pineres, Sheila & Ferrantino, Michael, 1997. "Export diversification and structural dynamics in the growth process: The case of Chile," Journal of Development Economics, Elsevier, vol. 52(2), pages 375-391, April.
- Subrata Ghatak & Chris Milner & Utku Utkulu, 1997. "Exports, export composition and growth : cointegration and causality evidence for Malaysia," Applied Economics, Taylor & Francis Journals, vol. 29(2), pages 213-223.
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