Arbeitspapier
A further examination of the export-led growth hypothesis
This paper challenges the common view that exports generally contribute more to GDP growth than a pure change in export volume, as the export-led growth hypothesis predicts. Applying panel cointegration techniques to a production function with non-export GDP as the dependent variable, we find for a sample of 45 developing countries that: (i) exports have a positive short-run effect on non-export GDP and vice versa (short-run bidirectional causality), (ii) the long-run effect of exports on nonexport output, however, is negative on average, but (iii) there are large differences in the long-run effect of exports on non-export GDP across countries. Cross-sectional regressions indicate that these cross-country differences in the long-run effect of exports on non-export GDP are significantly negatively related to cross-country differences in primary export dependence and business and labor market regulation. In contrast, there is no significant association between the growth effect of exports and the capacity of a country to absorb new knowledge.
- Sprache
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Englisch
- Erschienen in
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Series: DIW Discussion Papers ; No. 1149
Economic Growth of Open Economies
Macroeconomic Analyses of Economic Development
Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models
Developing countries
Panel cointegration
Exportinduziertes Wachstum
Nicht-handelbares Gut
Wirtschaftswachstum
Schätzung
Entwicklungsländer
Herzer, Dierk
- Handle
- Letzte Aktualisierung
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12.07.2024, 13:23 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Dreger, Christian
- Herzer, Dierk
- Deutsches Institut für Wirtschaftsforschung (DIW)
Entstanden
- 2011