Exports, export composition and growth

Greenaway, David; Morgan, W. John; Wright, Peter

doi:10.1080/09638199900000004

Cited by 106 publications

(64 citation statements)

References 16 publications

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“…In his empirical analysis, he estimated neoclassical models where growth of GDP was a function growth of capital and labor and ELG models that also included growth of aggregate real exports; the ELG models explained more of the growth than the neoclassical models. Although Feder did not include it in his models, other authors (e.g., Barro 1991;Sachs and Warner 1995;Greenaway et al 1999) estimating GDP growth have argued that countries with lower initial levels of income per capita tend to growth faster in the short run, thus tending to converge to the GDP per capita levels of higher income countries. Some more recent ELG studies have expanded on the role of exports in explaining growth of GDP.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Since we were not able to find surveys of these studies other than Mookerjee, we cite a few examples. Greenaway et al (1999) estimated growth for all exports and then for different categories of exports; they found exports of fuels, metals and textiles had more effect on growth than food or other primary products. Al-Marhubi (2000) found that share of manufactured goods and more diverse exports increased growth.…”

Section: Literature Reviewmentioning

confidence: 99%

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Does the commodities boom support the export led growth hypothesis? Evidence from Latin American countries

2016

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Commodity prices are characterized by boom and bust cycles. In this article, the impact of the commodity boom of the 2000s on Latin American and Caribbean economies is studied by analyzing four categories of commodity exports (agricultural raw materials, fuel, food, ore and minerals) as well as manufactured exports. Latin American and Caribbean economies had higher growth during the 2000s than in the period before the commodities boom. This study examines whether the higher growth was explained by the commodity boom, and if so, which of the different export commodities accounted for this higher growth. The findings should be relevant to understanding the effects on economic growth of a possible bust in commodity prices. The results show that ore and mineral exports, fuel exports and food exports generally had a negative effect on GDP per capita growth but ore and mineral exports had a positive effect on LAC countries during the boom. During the boom period, agricultural exports had negative effects, especially for LAC countries. Fuel exports had a positive effect on LAC and non-LAC countries during the boom. Manufacturing exports in general had a positive effect on economic growth, but in the boom period this effect almost disappeared for the LAC countries.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Does the commodities boom support the export led growth hypothesis? Evidence from Latin American countries

2016

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“…However, it can be argued that while export specialization may be important for efficiency and growth, it does matter what the nature of specialization is (Naude, bosker & Matthee, 2010). For instance, export specialization is positively related to growth, and the strength of the link varies with each sector of specialization (Greenaway, Morgan & Wright, 1999). Also, export specialization in goods with a high technological content has been found to be important for long-term growth (crespo-cuaresma & Wörz, 2005), and in the presence of knowledge-spillovers, the mix of exported products may have important consequences for growth (Hausmann, Hwang & Rodrik, 2009).…”

Section: The Role Of Trade Diversificationmentioning

confidence: 99%

Trade diversification in Colombia, 1991-2011

Cuervo¹

2017

Cuad. Econ.

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Ricardo Argüello argüello, r. (2017). Trade diversification in Colombia, 1991-2011. Cuadernos de Economía, 36(71), 345-378.In this paper we describe the evolution of international trade and the behaviour of export diversification in colombia during the 1991-2011 period. In order to measure trade diversification and follow its behaviour throughout the period, we employ alternative ways of decomposing trade flows in their intensive and extensive margins, using the latter as a measure of diversification. The results indicate that trade diversification in colombia is relatively limited, and seems to follow a pattern according to which exports are diversified mainly through increases in the number of products rather than in the number of partners. At the same time imports tend to diversify mainly by increases in the number of countries of origin rather than by the number of products. Furthermore, trade with upper middleincome countries seems to be an important driver of trade diversification. En este artículo se describe la evolución del comercio internacional y el comportamiento de la diversificación de este en colombia durante el período 1991-2011. Para la medición de la diversificación del comercio y su seguimiento, se emplean formas alternativas de descomponer el comercio en sus márgenes intensivo y extensivo, empleando estos últimos como medida de la diversificación. Los resultados indican que la diversificación del comercio es relativamente limitada y que parece seguir un patrón de acuerdo con el cual las exportaciones se diversifican principalmente mediante un mayor número de productos, mientras que las importaciones lo hacen principalmente a través de un mayor número de países de origen. Además, el crecimiento del comercio con países de ingresos medios altos parece ser un determinante de este patrón. KeywordsPalabras clave: diversificación de exportaciones, diversificación de importaciones, márgenes de comercio, colombia, estudios empíricos de comercio. JeL: F14, O24. Neste artigo, aparece a evolução do comércio internacional e do comportamento da diversificação dele na colômbia durante o período 1991-2011. Para a medição da diversificação do comércio e o seu acompanhamento, são utilizadas formas alternativas para decompor o comércio nas suas margens intensiva e extensiva, utilizando estas últimas como medida da diversificação. Os resultados indicam que a diversificação do comércio é relativamente limitada e que parece seguir um padrão de acordo com o qual as exportações se diversificam principalmente por um maior Trade diversification in Colombia, 1991-2011 argüello, r. (2017). diversification du commerce international en

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“…The degree of openness is deemed crucial for economic growth. Studies examine the relationship between different proxies for globalization and economic growth find a significant and positive relationship connecting these variables in the recipient country (Dollar & Kraay, 2001;Greenaway et al, 1999). Borensztein et al (1998) demonstrate a positive effect of foreign direct investment on the level of human capital availability.…”

Section: Economic Globalization (Kaop)mentioning

confidence: 99%

The Role of Savings in Reducing the Effect of Oil Price Volatility for Sustainable Economic Growth in Oil Based Economies: The Case of GCC Countries

Al‐Khouri¹,

Dhade²

2014

IJEF

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We investigate the simultaneous links between oil price changes, national savings, legal and institutional development, and economic growth in the Gulf Cooperation Council (GCC) countries. Our study includes six GCC countries namely, Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. We base our analysis on annual data that covers the period from 1980 to 2011. We implement different methodologies on time series cross sectional data: First, we test our model using fixed effect and random effect model techniques; Second, we employ Arellano-Bond/Blundell-Bond estimator to reduce the endogeneity problem that is common in this kind of studies. Results reveal a nonlinear and concave relationship between saving rates and economic growth. This result suggests that, at low level of economic growth, the increase in savings leads to high economic growth. However, as the countries' revenues and surpluses increase significantly (at higher levels in revenues and savings), high level of savings lead to lower growth in the economy. This might due to the lack of absorption capacity of the GCC markets. In addition, controlling for different factors, oil price changes explain the variability in the economic growth of the GCC countries. Economic globalization affects growth negatively, while institutional quality plays no role in economic growth of the GCC markets.

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Exports, export composition and growth

Cited by 106 publications

References 16 publications

Does the commodities boom support the export led growth hypothesis? Evidence from Latin American countries

Does the commodities boom support the export led growth hypothesis? Evidence from Latin American countries

Trade diversification in Colombia, 1991-2011

The Role of Savings in Reducing the Effect of Oil Price Volatility for Sustainable Economic Growth in Oil Based Economies: The Case of GCC Countries

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