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| 1 |
ID:
143531
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| Summary/Abstract |
The export-led growth (ELG) hypothesis suggests that there is a strong positive linear relationship between a country’s exports and economic growth. For many years, theoretical and empirical studies have examined the causal relationship between exports and economic growth and found that this relationship is one of interdependence rather than of unilateral causation. The purpose of this article is to empirically re-examine the ELG hypothesis in the context of two small South Asian countries: Bangladesh for the period of 1980–2011 and Sri Lanka for the period of 1984–2011. Using a model that controls for a host of domestic and international factors, this article tests the ELG hypothesis by employing the Auto Regressive Distributed Lag (ARDL) bounds test for cointegration and the Granger causality tests. The empirical results confirm the validity of the ELG hypothesis for both Bangladesh and Sri Lanka.
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| 2 |
ID:
073501
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| Publication |
2006.
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| Summary/Abstract |
China's economic development has in many ways taken the world by storm, and no part of the country has been left fully unaffected. Many attempts have been made to explain the sources of this rapid, yet uneven, development. Previous studies on the specific relationship between growing exports and economic growth provide important information on the issue, but results from individual provinces are lacking. To fill the gap, this paper reviews the basic empirical question defined by the export-led growth (ELG) hypothesis, i.e. whether growth in exports drives growth in GDP, at the provincial level. The ELG hypothesis is validated in 13 of the 27 provinces in the sample.
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| 3 |
ID:
091904
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| 4 |
ID:
168360
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| Summary/Abstract |
This paper studies how the fixed exchange rate regime (FERR) may promote growth when a country experiences faster rates of productivity growth in its tradable sector than its nontradable sector. In a simple two-sector model with money, we show that the FERR can reduce the Balassa-Samuelson effect if wage adjustment is subject to nominal rigidities. The undervaluation thus created suppresses real wage growth but increases the size of the tradable sector and leads to higher growth rates of the entire economy. Using cross-country panel data, our econometric exercises provide robust evidence that supports the results. Meanwhile, other fundamentals, including the external balance position, export share in the tradable sector, and the stage of development, play roles in determining the effects of FERR. Last, we apply the empirical results to run simulations on China from 1994 to 2007 to highlight the role of FERR in the country's export-led growth.
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| 5 |
ID:
089080
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| Publication |
2009.
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| Summary/Abstract |
Of all the unprecedented things that have happened during the global economic crisis, perhaps the most startling and ominous so far occurred in early 2009: shipping rates between southern China and Europe temporarily fell to zero dollars. As consumer demand in the West dried up and exports dwindled, brokers actually waived the transport fee and only charged a minimal handling cost. By April, hundreds of empty ships, representing over ten percent of the world's cargo capacity, floated idly in Asian waters. After traffic in South Korea's Pusan Harbor, one of the world's busiest, dropped by 40 percent in March, the port ran out of space to store the 32,000 unused containers that had piled up.
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