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Exports, investment, efficiency and economic growth in LDC: an empirical investigation

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  • Teame Ghirmay
  • Richard Grabowski
  • Subhash Sharma

Abstract

This study seeks to analyse the relationship between exports and growth for 19 less-developed countries. It utilizes multivariate causality analysis based on the error correction model to address several important hypotheses. The results indicate that when exports have a causal influence in the development process that in general this is the result of their effect on both efficiency and accumulation. In addition, improvements in output and capital accumulation in an economy seem to have just as much of an influence on exports as exports have on output and capital accumulation. Finally, the growth process in East Asia seems to be quite different from that in Southeast Asia.

Suggested Citation

  • Teame Ghirmay & Richard Grabowski & Subhash Sharma, 2001. "Exports, investment, efficiency and economic growth in LDC: an empirical investigation," Applied Economics, Taylor & Francis Journals, vol. 33(6), pages 689-700.
  • Handle: RePEc:taf:applec:v:33:y:2001:i:6:p:689-700
    DOI: 10.1080/00036840122027
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    References listed on IDEAS

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    1. Romer,Paul M, 1989. "What determines the rate of growth and technological change?," Policy Research Working Paper Series 279, The World Bank.
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    Cited by:

    1. M.A.Hossain, 2001. "On Export-Led Growth: Is Manufacturing Exports a New Engine of Growth for Bangladesh?," Discussion Papers Series 297, School of Economics, University of Queensland, Australia.
    2. Ana I. Sanjuán-López & P. J. Dawson, 2010. "Agricultural Exports and Economic Growth in Developing Countries: A Panel Cointegration Approach," Journal of Agricultural Economics, Wiley Blackwell, vol. 61(3), pages 565-583.
    3. Brida, Juan Gabriel & Pereyra, Juan Sebastián & Such, María Jesús & Pulina, Manuela, 2011. "Causalidad entre turismo y crecimiento económico de largo plazo: una revisión crítica de la literatura econométrica
      [Causality between tourism and long-term economic growth: a critical review of th
      ," MPRA Paper 37332, University Library of Munich, Germany, revised 2011.
    4. Belloumi, Mounir, 2014. "The relationship between trade, FDI and economic growth in Tunisia: An application of the autoregressive distributed lag model," Economic Systems, Elsevier, vol. 38(2), pages 269-287.
    5. Nikolaos Dritsakis, 2004. "Exports, investments and economic development of pre-accession countries of the European Union: an empirical investigation of Bulgaria and Romania," Applied Economics, Taylor & Francis Journals, vol. 36(16), pages 1831-1838.
    6. Abdullahi Ahmed & Enjiang Cheng & George Messinis, 2011. "The role of exports, FDI and imports in development: evidence from Sub-Saharan African countries," Applied Economics, Taylor & Francis Journals, vol. 43(26), pages 3719-3731.
    7. Lee, Chin, 2013. "The Role of Macroeconomic Fundamentals in Malaysian Post Recession Growth," MPRA Paper 44808, University Library of Munich, Germany.
    8. Harrison, Ann & Rodríguez-Clare, Andrés, 2010. "Trade, Foreign Investment, and Industrial Policy for Developing Countries," Handbook of Development Economics, Elsevier.

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