Import protection and export performance: Their impact on economic growth
For a long time economists have been presuming a strong and positive relationship between a country's engagement in international trade and its economic performance. Already Adam Smith stressed the importance of trade as a means of widening markets, thereby increasing the division of labour and thus raising the level of productivity; John Stuart Mill on the other side laid greater emphasis on the dynamic effects of international trade (called indirect effects) . Thus it was generally believed that countries with a high engagement in international trade perform much better than countries that protect their home markets - the latter not being able to make use of the benefits of trade as a source of economic growth.
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- Lubitz, Raymond, 1973. "Export-Led Growth in Industrial Economies," Kyklos, Wiley Blackwell, vol. 26(2), pages 307-21.
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- Riedel, James, 1984. "Trade as the Engine of Growth in Developing Countries, Revisited," Economic Journal, Royal Economic Society, vol. 94(373), pages 56-73, March.
- Jagdish N. Bhagwati, 1978. "Anatomy and Consequences of Exchange Control Regimes," NBER Books, National Bureau of Economic Research, Inc, number bhag78-1, July.
- Feder, Gershon, 1983. "On exports and economic growth," Journal of Development Economics, Elsevier, vol. 12(1-2), pages 59-73.
- Summers, Robert & Heston, Alan, 1984. "Improved International Comparisons of Real Product and Its Composition: 1950-1980," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 30(2), pages 207-62, June.
- Balassa, Bela, 1978. "Exports and economic growth : Further evidence," Journal of Development Economics, Elsevier, vol. 5(2), pages 181-189, June.
- Balassa, Bela, 1982. "Disequilibrium analysis in developing economies: An overview," World Development, Elsevier, vol. 10(12), pages 1027-1038, December.
- Michaely, Michael, 1977. "Exports and growth : An empirical investigation," Journal of Development Economics, Elsevier, vol. 4(1), pages 49-53, February.
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