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Learning by Exporting and Productivity-investment Interaction: An Intertemporal General Equilibrium Analysis of the Growth Process in Thailand

  • Hildegunn Ekroll Stokke

    ()

    (Department of Economics, Norwegian University of Science and Technology)

  • Jørn Rattsø

    ()

    (Department of Economics, Norwegian University of Science and Technology)

  • Xinshen Diao

    (International Food Policy Research Institute, Washington DC)

While the discussion of Thailand and East Asian growth has been a controversy between capital accumulation and productivity stories, we analyze the general equilibrium interaction between productivity and investment in an intertemporal model. The model builds in endogenous productivity spillover effects influencing profitability and investment and produces long run growth effects of economic policy. To understand the growth process in Thailand, learning by exporting is assumed to be the main vehicle of international spillover and brings further productivity effects to the domestic economy. The dynamic simulations show how high economic growth is prolonged by multisector productivity and investment dynamics and structural shift from agriculture to exportables. The importance of trade liberalization is shown in a counterfactual analysis where protection holds back growth by serving as a barrier to productivity spillover.

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Paper provided by Department of Economics, Norwegian University of Science and Technology in its series Working Paper Series with number 2302.

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Length: 30 pages
Date of creation: 11 Oct 2001
Date of revision:
Handle: RePEc:nst:samfok:2302
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  1. Jeffrey A. Frankel & David Romer & Teresa Cyrus, 1995. "Trade and growth in East Asian countries: cause and effect?," Pacific Basin Working Paper Series 95-03, Federal Reserve Bank of San Francisco.
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  14. Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output Per Worker Than Others?," The Quarterly Journal of Economics, MIT Press, vol. 114(1), pages 83-116, February.
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  16. Mary Hallward-Driemeier & Giuseppe Iarossi & Kenneth L. Sokoloff, 2002. "Exports and Manufacturing Productivity in East Asia: A Comparative Analysis with Firm-Level Data," NBER Working Papers 8894, National Bureau of Economic Research, Inc.
  17. Diao, Xinshen & Rattsø, Jørn & Stokke, Hildegunn Ekroll, 2002. "International spillovers, productivity growth and openness in Thailand," TMD discussion papers 89, International Food Policy Research Institute (IFPRI).
  18. Feder, Gershon, 1983. "On exports and economic growth," Journal of Development Economics, Elsevier, vol. 12(1-2), pages 59-73.
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