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http://hdl.handle.net/10419/49532
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| Title: | | A further examination of the export-led growth hypothesis  |
| Authors: | | Dreger, Christian Herzer, Dierk |
| Issue Date: | | 2011 |
| Series/Report no.: | | Discussion paper // European University Viadrina, Department of Business Administration and Economics 305 |
| Abstract: | | 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 non-export output, however, is negative on average, but (iii) there are large differences in the longrun 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 nonexport 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. |
| Subjects: | | Export-led growth Developing countries Panel cointegration |
| JEL: | | F43 O11 C23 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Publikationen von Forscherinnen und Forschern des DIW Diskussionspapiere, Wirtschaftswissenschaftliche Fakultät, Europa-Universität Viadrina
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