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Export-led growth, real exchange rates and the fallacy of composition

  • Robert A. Blecker
  • Arslan Razmi

Comprising specially commissioned essays, the Handbook provides a comprehensive overview of alternative theories of economic growth. It surveys major sub-fields (including classical, Kaleckian, evolutionary, and Kaldorian growth theories) and highlights cutting-edge issues such as the relationship between finance and growth, the interplay of trend and cycle, and the role of aggregate demand in the long run.

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File URL: http://www.american.edu/cas/economics/pdf/upload/2009-22.pdf
File Function: First version, 2009
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Paper provided by American University, Department of Economics in its series Working Papers with number 2009-22.

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Date of creation: Mar 2009
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Handle: RePEc:amu:wpaper:2009-22
Contact details of provider: Web page: http://www.american.edu/cas/economics/

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  1. Arvind Subramanian & Jonathan David Ostry & Simon Johnson, 2007. "The Prospects for Sustained Growth in Africa; Benchmarking the Constraints," IMF Working Papers 07/52, International Monetary Fund.
  2. Gordon H. Hanson & Raymond Robertson, 2008. "China and the Manufacturing Exports of Other Developing Countries," NBER Working Papers 14497, National Bureau of Economic Research, Inc.
  3. John Williamson, 2009. "Exchange Rate Economics," Open Economies Review, Springer, vol. 20(1), pages 123-146, February.
  4. AkIn, Cigdem & Kose, M. Ayhan, 2008. "Changing nature of North-South linkages: Stylized facts and explanations," Journal of Asian Economics, Elsevier, vol. 19(1), pages 1-28, February.
  5. Guillermo A. Calvo & Carmen M. Reinhart, 2000. "Fear of Floating," NBER Working Papers 7993, National Bureau of Economic Research, Inc.
  6. Eswar S. Prasad & Raghuram G. Rajan & Arvind Subramanian, 2007. "Foreign Capital and Economic Growth," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 38(1), pages 153-230.
  7. Sanjaya Lall & Manuel Albaladejo & Jinkang Zhang, 2004. "Mapping fragmentation: Electronics and automobiles in East Asia and Latin America," Oxford Development Studies, Taylor & Francis Journals, vol. 32(3), pages 407-432.
  8. Jörg Mayer, 2003. "The Fallacy Of Composition: A Review Of The Literature," UNCTAD Discussion Papers 166, United Nations Conference on Trade and Development.
  9. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-26, June.
  10. Anthony P. Thirlwall, 2011. "Balance of payments constrained growth models: history and overview," PSL Quarterly Review, Economia civile, vol. 64(259), pages 307-351.
  11. Lall, Sanjaya, 1998. "Exports of Manufactures by Developing Countries: Emerging Patterns of Trade and Location," Oxford Review of Economic Policy, Oxford University Press, vol. 14(2), pages 54-73, Summer.
  12. Jonathan David Ostry & Andrew Berg & Jeromin Zettelmeyer, 2008. "What Makes Growth Sustained?," IMF Working Papers 08/59, International Monetary Fund.
  13. Nicholas Wilson & Kavian Munshi, 2010. "Identity and Mobility: Historical Fractionalization, Parochial Institutions, and Occupational Choice in the American Midwest," Center for Development Economics 2011-02, Department of Economics, Williams College.
  14. P. Krugman & L. Taylor, 1976. "Contractionary Effects of Devaluations," Working papers 191, Massachusetts Institute of Technology (MIT), Department of Economics.
  15. Barry Eichengreen & Yeongseop Rhee & Hui Tong, 2007. "China and the Exports of Other Asian Countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 143(2), pages 201-226, July.
  16. Arslan Razmi & Robert Blecker, 2008. "Developing Country Exports of Manufactures: Moving Up the Ladder to Escape the Fallacy of Composition?," Journal of Development Studies, Taylor & Francis Journals, vol. 44(1), pages 21-48.
  17. Cline, William R., 1982. "Can the East Asian model of development be generalized?," World Development, Elsevier, vol. 10(2), pages 81-90, February.
  18. Frenkel, Roberto & Ros, Jaime, 2006. "Unemployment and the real exchange rate in Latin America," World Development, Elsevier, vol. 34(4), pages 631-646, April.
  19. Peter J. Montiel & Luis Servén, 2008. "Real Exchange Rates, Saving and Growth: Is there a Link?," Center for Development Economics 2008-06, Department of Economics, Williams College.
  20. Arslan Razmi, 2007. "The Contractionary Short-Run Effects of Nominal Devaluation in Developing Countries: Some Neglected Nuances," International Review of Applied Economics, Taylor & Francis Journals, vol. 21(5), pages 577-602.
  21. Prema-Chandra Athukorala, 2008. "China's integration into global production networks and its implications for export-led growth strategy in other countries in the region," Departmental Working Papers 2008-04, The Australian National University, Arndt-Corden Department of Economics.
  22. Razmi, Arslan, 2007. "Pursuing manufacturing-based export-led growth: Are developing countries increasingly crowding each other out?," Structural Change and Economic Dynamics, Elsevier, vol. 18(4), pages 460-482, December.
  23. Faini, Riccardo & Clavijo, Fernando & Senhadji-Semlali, Abdel, 1992. "The fallacy of composition argument : Is it relevant for LDCs' manufactures exports?," European Economic Review, Elsevier, vol. 36(4), pages 865-882, May.
  24. Robert A. Blecker & Arslan Razmi, 2008. "The fallacy of composition and contractionary devaluations: output effects of real exchange rate shocks in semi-industrialised countries," Cambridge Journal of Economics, Oxford University Press, vol. 32(1), pages 83-109, January.
  25. Muscatelli, V. A. & Stevenson, A. A. & Montagna, C., 1994. "Intra-NIE competition in exports of manufactures," Journal of International Economics, Elsevier, vol. 37(1-2), pages 29-47, August.
  26. Polterovich, Victor & Popov, Vladimir, 2003. "Accumulation of Foreign Exchange Reserves and Long Term Growth," MPRA Paper 20069, University Library of Munich, Germany.
  27. Raphael Kaplinsky & Amelia U. Santos-Paulino, 2006. "A disaggregated analysis of EU imports: the implications for the study of patterns of trade and technology," Cambridge Journal of Economics, Oxford University Press, vol. 30(4), pages 587-611, July.
  28. Kaplinsky, Raphael, 1993. "Export Processing Zones in the Dominican Republic: Transforming manufactures into commodities," World Development, Elsevier, vol. 21(11), pages 1851-1865, November.
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