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Trade policy, export expansion, human capital and growth

Author

Listed:
  • Robert McNab
  • Robert Moore

Abstract

This paper empirically investigates the impact of trade policy on export expansion and on GDP growth in developing countries while controlling for the human capital stock and the initial level of development. By using a simultaneous system estimation we unite the approach found in the export expansion and growth literature with the approach found in papers that estimate the effect of trade policy on growth, while also making several improvements in the estimation of the underlying relationships. The results obtained from our estimation are more credible because of these improvements and therefore have stronger policy implications. We find that outward-oriented trade policies substantially and significantly impact growth in developing countries not only by directly enhancing exports but also through a feedback (or multiplier) effect.

Suggested Citation

  • Robert McNab & Robert Moore, 1998. "Trade policy, export expansion, human capital and growth," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 7(2), pages 237-256.
  • Handle: RePEc:taf:jitecd:v:7:y:1998:i:2:p:237-256
    DOI: 10.1080/09638199800000013
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    Citations

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    Cited by:

    1. Hashim, Khairul & Masih, Mansur, 2014. "What causes economic growth in Malaysia: exports or imports ?," MPRA Paper 62366, University Library of Munich, Germany.
    2. Konstantinos Chisiridis & Theodore Panagiotidis, 2017. "The Relationship Between Greek Exports and Foreign Regional Income," GreeSE – Hellenic Observatory Papers on Greece and Southeast Europe 111, Hellenic Observatory, LSE.
    3. Christian Dreger & Dierk Herzer, 2013. "A further examination of the export-led growth hypothesis," Empirical Economics, Springer, vol. 45(1), pages 39-60, August.
    4. Martinez-Vazquez, Jorge & McNab, Robert M., 2003. "Fiscal Decentralization and Economic Growth," World Development, Elsevier, vol. 31(9), pages 1597-1616, September.
    5. Jorge Martinez-Vazquez & Robert McNab, 1997. "Fiscal Decentralization, Economic Growth, and Democratic Governance," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper9707, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
    6. Konstantinos Chisiridis & Theodore Panagiotidis, 2018. "The Relationship Between Greek Exports and Foreign Income," Discussion Paper Series 2018_03, Department of Economics, University of Macedonia, revised Apr 2018.
    7. Aleh Mazol, 2015. "Exchange Rate, Imports of Intermediate and Capital Goods and GDP Growth in Belarus," BEROC Working Paper Series 32, Belarusian Economic Research and Outreach Center (BEROC).
    8. repec:ucm:wpaper:05-09 is not listed on IDEAS
    9. Qazi Muhammad Adnan Hye, 2012. "Exports, imports and economic growth in China: an ARDL analysis," Journal of Chinese Economic and Foreign Trade Studies, Emerald Group Publishing, vol. 5(1), pages 42-55, February.
    10. Harrison, Ann & Rodríguez-Clare, Andrés, 2010. "Trade, Foreign Investment, and Industrial Policy for Developing Countries," Handbook of Development Economics, Elsevier.
    11. Nurhaliq, Puteri & Masih, Mansur, 2016. "Export orientation vs import substitution : which strategy should the government adopt? Evidence from Malaysia," MPRA Paper 82113, University Library of Munich, Germany.
    12. Hye, Qazi Muhammad Adnan & Wizarat, Shahida & Lau, Wee-Yeap, 2013. "Trade-led growth hypothesis: An empirical analysis of South Asian countries," Economic Modelling, Elsevier, vol. 35(C), pages 654-660.
    13. Arbache, Jorge Saba, 2004. "Do Structural Reforms always Succeed? Lessons from Brazil," WIDER Working Paper Series 058, World Institute for Development Economic Research (UNU-WIDER).
    14. Vicente Donoso & Víctor Martín, 2009. "Exportaciones y crecimiento económico: estudios empíricos," Working Papers del Instituto Complutense de Estudios Internacionales 0905, Universidad Complutense de Madrid, Instituto Complutense de Estudios Internacionales.

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