Is Export-led Economic Growth Significant in LDCs? PDF Download
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Author: Md Fokhrul Islam
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Purpose of the study: The purpose of this piece of work is to find out whether there persists any long-run relationship between the exports and economic growth in Bangladesh as a member of the LDCs. In this connection, the export-led growth hypothesis has been assessed for the Bangladeshi economy for the last three decades of timeframe.Methodology: Time-series econometric approach, the Johansen Cointegration test is followed in the study to find out the long-run relationship among the variables. The Granger casualty test was done to find the direction of the casualty. The Time-series data from the period 1991 to 2020 are analyzed through several econometric test procedures. The gross domestic product is regarded as the dependent variable, whereas the Exports of goods & services and the Gross Capital Formation are considered independent variables. The estimated model is examined for a structural break using the Chow Test. The Breusch-Godfrey and Durbin-Watson tests are performed to figure out whether autocorrelation exists.Findings: It is recognized that export-led economic growth has no long-term significance for Bangladesh's economy. The findings are consistent with those of Li et al. (2010) on low-income nations. The R-squared value of the estimated model(83%)shows that the model fits the data quite well.Implications: As Bangladesh is likely to become a middle-income country very soon, the study is highly pertinent to the country's current development dynamics.Limitations and Future direction: This study simply revisited the traditional export-led growth hypothesis through the latest contemporary dataset. Future work may include investigating the reasons why LDCs do not sustain export-induced growth in the long run.
Author: Md Fokhrul Islam
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Purpose of the study: The purpose of this piece of work is to find out whether there persists any long-run relationship between the exports and economic growth in Bangladesh as a member of the LDCs. In this connection, the export-led growth hypothesis has been assessed for the Bangladeshi economy for the last three decades of timeframe.Methodology: Time-series econometric approach, the Johansen Cointegration test is followed in the study to find out the long-run relationship among the variables. The Granger casualty test was done to find the direction of the casualty. The Time-series data from the period 1991 to 2020 are analyzed through several econometric test procedures. The gross domestic product is regarded as the dependent variable, whereas the Exports of goods & services and the Gross Capital Formation are considered independent variables. The estimated model is examined for a structural break using the Chow Test. The Breusch-Godfrey and Durbin-Watson tests are performed to figure out whether autocorrelation exists.Findings: It is recognized that export-led economic growth has no long-term significance for Bangladesh's economy. The findings are consistent with those of Li et al. (2010) on low-income nations. The R-squared value of the estimated model(83%)shows that the model fits the data quite well.Implications: As Bangladesh is likely to become a middle-income country very soon, the study is highly pertinent to the country's current development dynamics.Limitations and Future direction: This study simply revisited the traditional export-led growth hypothesis through the latest contemporary dataset. Future work may include investigating the reasons why LDCs do not sustain export-induced growth in the long run.
Author: Emilio J. Medina-Smith
Publisher: United Nations Conference on Trade and Development
ISBN:
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
The export-led growth hypothesis (ELGH) postulates that export growth is one of the determinants of economic growth. This study tests the hypothesis by examining the economy of Costa Rica, using data going back to 1950. It found that although exports had a positive effect on growth, their impact was relatively. It thus challenges some of the empirical literature on ELGH and expresses doubts about using exports as a comprehensive development strategy.
Author: Jinjun Xue
Publisher:
ISBN:
Category : China
Languages : en
Pages : 50
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Book Description
Author: Jie Yang
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 48
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Book Description
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".
Author: Pitou van Dijck
Publisher: NUS Press
ISBN: 9789971691127
Category : Business & Economics
Languages : en
Pages : 488
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Book Description
This study describes and analyses in depth the transformation taking place in world manufacturing industry and its impact on the economies of newly industrialising countries. In Part One, the causes and characteristics of export-oriented industrialisation are studied, often using world-wide cross-country analyses. Trade policies and export strategies underlying such industrialisation processes get much attention. Part Two mainly deals with the domestic preconditions for and consequences of export-oriented manufacturing production, on the basis of detailed case studies of seven East and South-East Asian countries.
Author: Rob Vos
Publisher:
ISBN: 9780415632386
Category : Business & Economics
Languages : en
Pages : 368
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Book Description
The issue of the pros and cons of free trade from the point of view of developing countries refuses to dissipate, and in Latin America, the debate rages most fiercely. Argentina is still licking its wounds after a catastrophic past five years, and Brazil and others have hardened their line – even going so far as to initiate the influential new G20 group of the most powerful LDCs. Who Gains from Free Tradeexamines the extent to which trade reforms have been an important source of the slowdown of economic growth, rising inequality and rising poverty as observed in many parts of the region. This volume presents a comprehensive analysis of this important topic, utilizing: research based on sixteen country narratives of policy reform and economic performance rigorous general equilibrium (CGE) modelling of the economy-wide effects of trade reform for all country cases application of an innovative method of microsimulations to assess the employment and factor income distribution impact of policy reforms on poverty and inequality at the household level. This important study, a valuable resource for postgraduate students of development economics and political economy, examines all the current issues and brings together some of the world’s leading experts.
Author: Stephen C. Smith
Publisher:
ISBN:
Category : Social Science
Languages : en
Pages : 76
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Book Description
Author: Arkebe Oqubay
Publisher: Oxford University Press
ISBN: 0192590944
Category : Business & Economics
Languages : en
Pages : 800
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Book Description
Industrialization supported by industrial hubs has been widely associated with structural transformation and catch-up. But while the direct economic benefits of industrial hubs are significant, their value lies first and foremost in their contribution as incubators of industrialization, production and technological capability, and innovation. The Oxford Handbook of Industrial Hubs and Economic Development adopts an interdisciplinary approach to examine the conceptual underpinnings, review empirical evidence of regions and economies, and extract pertinent lessons for policy reasearchers and practitioners on the key drivers of success and failure for industrial hubs. This Handbook illustrates the diverse and complex nature of industrial hubs and shows how they promote industrialization, economic structural transformation, and technological catch-up. It explores the implications of emerging issues and trends such as environmental protection and sustainability, technological advancement, shifts in the global economy, and urbanization.
Author: Reinaldo Gonçalves
Publisher:
ISBN:
Category : Developing countries
Languages : en
Pages : 36
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Book Description
Author: Richard Newfarmer
Publisher: World Bank Publications
ISBN: 0821376381
Category : Political Science
Languages : en
Pages : 294
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Book Description
International trade in 2009 is projected to contract for the first time since 1982. As a result, export diversifi cation has gained new urgency as one way of using exports to recover lost growth momentum. Moreover, diversifi cation is central to reducing income volatility and sustaining high growth rates, which are especially important for countries with large populations living in poverty. In the 1950s, countries became concerned that their dependence on primary products would lead to steady falls in the purchasing power of primary exports and thus slow growth. A major policy objective of developing countries since that time has been to diversify out of primary products into manufactures. Although some nations have been at least partially successful, many low-income countries remain dependent on a narrow range of primary products. 'Breaking Into New Markets' argues for a comprehensive view of diversifi cation. It explores new thinking and evidence about export diversifi cation and elaborates on policies for its promotion. These policies span tariffs and taxes, services, and government activities to help fi rms take advantage of global opportunities. The book is a compilation of chapters written as short, policy-focused pieces. Many digest longer, more academic papers in an effort to make the information accessible to a larger policy and nontechnical audience. In that sense, the book is a policy primer on what export diversifi cation can and cannot do for growth and how to make diversifi cation happen. Intelligently designed policies that effi ciently address the obstacles to export growth are critical for overall economic growth and poverty reduction. This book offers insights useful to policy makers and practitioners as they embark on efforts to design new programs of competitiveness in their trade strategies.
