The Export-Led Growth: A Technological View

Abstract

The details of the impact of exports on economic growth have been one of the most important topics in the literature. Numerous studies asserted that open economies grow faster than the closed ones because of the effect of the exports on GDP and increase of productivity and efficiency through foreign competition. Concurrently, these studies indicated that there are strong correlation exists between exports and economic growth. On the other hand, high share of production of technology in today's economies is the key for sustainable and high rates of growth and the relationship between technology exports and economic growth has been a topic of interest among economists. Many studies in the literature published on export-led hypothesis in recent years but only few studies addressed the technological issues. Therefore, the purpose of this study is to examine the impact of technology exports on economic growth of selected OECD countries using dynamic panel method. We established the model by using the yearly data of 2003-2015 periods for selected OECD countries provided by OECD.Stat. As a conclusion, it is revealed that technology exports have positive and statistically significant impact on economic growth. These results implied that high-tech exports led to growth in selected OECD countries. These results suggested that promoting the production of technology is one the drivers of the economic growth.

High-Technology Products Export and Economic Growth: A Panel Data Analysis for Eu-15 Countries

“…This confirms that high-export exportation has the potential to increase the long-term growth, boosting the productive capacity in EU-15 countries. Results of the study supports the findings of Demir (2018), Satrovic (2018), Usman (2017), Bal et al (2016), Kılavuz and Topcu (2012), Yoo (2008) and Falk (2007) who found the importance of high-tech exports on economic growth. This study also revealed the importance of export diversification and product sophistication.…”