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An Analysis of So-Called Export-led Growth

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  • Jie Yang

Abstract

The stylized fact that strong economic growth is usually accompanied with strong export growth leads many people to conclude that the export sector is the main driving force behind those episodes. The model in this paper, however, shows that the non-tradable sector may also generate high economic growth together with high export growth. Evidence shows that out of 71 "so-called" export-led growth episodes, only 37 of them are consistent with the "exports driving growth" hypothesis. Most of the remaining episodes (24 cases) experienced significant real exchange rate depreciation and are more likely to be characterized by "growth driving exports".

Suggested Citation

  • Jie Yang, 2008. "An Analysis of So-Called Export-led Growth," IMF Working Papers 08/220, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:08/220
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    Cited by:

    1. Shafaeddin, Mehdi, 2010. "Trade liberalization, industrialization and development; experience of recent decades," MPRA Paper 26355, University Library of Munich, Germany.
    2. Duc Minh Pham & Deepak Mishra & Kee-Cheok Cheong & John Arnold & Anh Minh Trinh & Huyen Thi Ngoc Ngo & Hien Thi Phuong Nguyen, 2013. "Trade Facilitation, Value Creation, and Competiveness : Policy Implications for Vietnam's Economic Growth, Summary Report," World Bank Other Operational Studies 16786, The World Bank.
    3. Hany H. MAKHLOUF, 2016. "The Rewards and Challenges of Export-Led Strategies," Journal of Economics and Political Economy, KSP Journals, vol. 3(3), pages 440-445, September.
    4. Duc Minh Pham & Deepak Mishra & Kee-Cheok Cheong & John Arnold & Anh Minh Trinh & Huyen Thi Ngoc Ngo & Hien Thi Phuong Nguyen, 2013. "Trade Facilitation, Value Creation, and Competiveness : Policy Implications for Vietnam's Economic Growth, Volume 1," World Bank Other Operational Studies 16784, The World Bank.

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