192
Views
17
CrossRef citations to date
0
Altmetric
Original Article

Economic Growth in Latin American Countries: Is It Based on Export-Led or Import-Led Growth?

&

References

  • Abu-Qarn, A., and S. Abu-Bader. 2004. "The Validity of the ELG Hypothesis in the MENA Region: Cointegration and Error Correction Model Analysis." Applied Economics 36, no. 15: 1685-1695.
  • Ahmad, J., and A. Kwan. 1991. "Causality Between Exports and Economic Growth: Empirical Evidence from Africa." Economics Letters 37, no. 3: 243-248.
  • Ahmad, J.; S. Harnhirun; and J. Yang. 1997. "Exports and Economic Growth in the ASEAN Countries: Cointegration and Causality Tests." International Review of Business and Economics 44: 419-430.
  • Awokuse, T. 2008. "Trade Openness and Economic Growth: Is Growth Export-Led or Import-Led?" Applied Economics 40, no. 2: 161-173.
  • Baharumshah, A.Z., and S.W. Almasaied. 2009. "Foreign Direct Investment and Economic Growth in Malaysia: Interactions with Human Capital and Financial Deepening." Emerging Markets Finance & Trade 45, no. 1 (January-February): 90-102.
  • Bahmani-Oskooee, M., and J. Alse. 1993. "Export Growth and Economic Growth: An Application of Cointegration and Error Correction Modeling." Journal of Developing Areas 27, no. 4: 535-542.
  • Bahmani-Oskooee, M., and C. Economidou, 2009. "Export Led Growth vs. Growth Led Exports: LDCs Experience." Journal of Developing Areas 42, no. 2 (Spring): 179-209.
  • Bahmani-Oskooee, M., and M. Oyolola. 2007. "Export Growth and Output Growth: An Application of Bounds Testing Approach." Journal of Economics and Finance 31, no. 1 (Spring): 1-11.
  • Bahmani-Oskooee, M.; C. Economidou; and G. Goswami. 2005. "Export Led Growth Hypothesis Revisited: A Panel Cointegration Approach." Scientific Journal of Administrative Development 3: 40-55.
  • Bahmani-Oskooee, M.; H. Mohtadi; and G. Shabsigh. 1991. "Exports, Growth and Causality in LDCs: A Re-Examination." Journal of Development Economics 36, no. 2: 405-415.
  • Bai, J., and S. Ng. 2004. "A PANIC Attack on Unit Roots and Cointegration." Econometrica 72: 1127-1177.
  • Balassa, B. 1978. "Exports and Economic Growth: Further Evidence." Journal of Development Economics 5, no. 2: 181-189.
  • Ben-David, D. 1993. "Equalizing Exchange: Trade Liberalization and Income Convergence." Quarterly Journal of Economics 108, no. 3: 653-679.
  • Bodman, P. 1996. "On Export-Led Growth in Australia and Canada: Cointegration, Causality and Structural Stability." Australian Economic Papers 35, no. 67: 282-299.
  • Butkiewicz, J.L., and H. Yanikkaya. 2008. "Capital Account Openness, International Trade and Economic Growth: A Cross-Country Empirical Investigation." Emerging Markets Finance & Trade 44, no. 2 (March-April): 15-38.
  • Campbell, J., and P. Perron. 1991. "Pitfalls and Opportunities: What Macroeconomists Should Know About Unit Roots." In NBER Macroeconomics Annual 1991, vol. 6, ed. O.J. Blanchard and S. Fischer, pp. 141-201. Cambridge: MIT Press.
  • Chang, R.; L. Kaltani; and N. Loayza. 2009. "Openness Can Be Good for Growth: The Role of Policy Complementarities." Journal of Development Economics 90, no. 1: 33-49.
  • Chen, S. 2007. "Exactly What Is the Link Between Export and Growth in Taiwan? New Evidence from the Granger Causality Test." Economics Bulletin 6, no. 7: 1-10.
  • Chow, P. 1987. "Causality Between Export Growth and Industrial Development: Empirical Evidence from NICs." Journal of Development Economics 26, no. 1: 55-63.
  • Chumacero, R., and R. Fuentes. 2006. "Economic Growth in Latin America: Structural Breaks or Fundamentals." Estudios de Economía 33, no. 2: 141-154.
  • Dash, R., and R. Kumar. 2007. "Export-Led Growth in South Asia: A Panel Evidence." Indian Economic Journal 55, no. 3 (October-December): 132-146.
  • DeJong, D., and C. Whiteman. 1991. "The Case for Trend-Stationarity Is Stronger Than We Thought." Journal of Applied Econometrics 6, no. 4 (October-December): 413-421.
  • Dodaro, S. 1993. "Exports and Growth: A Reconsideration of Causality." Journal of Developing Areas 27, no. 2: 227-244.
  • Dreger, C., and D. Herzer. 2013. "A Further Examination of the Export-Led Growth Hypothesis." Empirical Economics 45, no. 1: 39-60.
  • Edwards, S. 1993. "Openness, Trade Liberalization, and Growth in Developing Countries." Journal of Economic Literature 31, no. 3: 1358-1393.
  • Edwards, S. 1998. "Openness, Productivity and Growth: What Do We Really Know?" Economic Journal 108, no. 447: 383-398.
  • Ekanayake, E. 1999. "Exports and Economic Growth in Asian Developing Countries: Cointegration and Error-Correction Models." Journal of Economic Development 24, no. 2: 43-56.
  • Emirmahmutoglu, F., and N. Kose. 2011. "Testing for Granger Causality in Heterogeneous Mixed Panels." Economic Modeling 28, no. 3: 870-876.
  • Feder, G. 1983. "On Exports and Economic Growth." Journal of Development Economics 12, no. 1 (February-April): 59-73.
  • Findlay, D. 1984. "Trade and Development: Theory and Asian Experience." Asian Development Review 2, no. 2: 23-42.
  • Gengenbach, C.; F. Palm; and J. Urbain. 2006. "Cointegration Testing in Panels with Common Factors." Oxford Bulletin of Economics and Statistics 68, supp. 1: 683-719.
  • Gengenbach, C.; J. Urbain; and J. Westerlund. 2008. "Panel Error Correction Testing with Global Stochastic Trends." Research Memorandum no. 051, Maastricht Research School of Economics of Technology and Organization, Maastricht, Netherlands.
  • Ghatak, S.; C. Milner; and U. Utkulu. 1997. "Exports, Export Composition and Growth: Cointegration and Causality Evidence for Malaysia." Applied Economics 29, no. 2: 213-223.
  • Giles, J., and C. Williams. 2000. "Export-Led Growth: A Survey of the Empirical Literature and Some Non-Causality Results. Part 1." Journal of International Trade and Economic Development: An International and Comparative Review 9, no. 3: 261-337.
  • Greenaway, D., and D. Sapsford. 1994. "What Does Liberalisation Do for Exports and Growth?" Weltwirtschaftliches Archiv 130, no. 1: 152-174.
  • Heller, P., and R. Porter. 1978. "Exports and Growth: An Empirical Re-investigation." Journal of Development Economics 5, no. 2: 191-193.
  • Herzer, D.; D. Nowak-Lehmann; and B. Siliverstovs. 2006. "Export-Led Growth in Chile: Assessing the Role of Export Composition in Productivity Growth." Developing Economies 44, no. 3: 306-328.
  • Hsiao, M. 1987. "Tests of Causality and Exogeneity Between Exports and Economic Growth: The Case of Asian NICs." Journal of Economic Development 12, no. 2: 149-159.
  • Im, K.; M. Pesaran; and Y. Shin. 2003. "Testing for Unit Roots in Heterogeneous Panels." Journal of Econometrics 115, no. 1: 53-74.
  • Johansen, S. 1995. Likelihood-Based Inference in Cointegrated Vector Autoregressive Models. Oxford: Oxford University Press.
  • Jung, W., and P. Marshall. 1985. "Exports, Growth and Causality in Developing Countries." Journal of Development Economics 18, no. 1 (May-June): 1-12.
  • Kao, C., and M. Chiang. 2001. "On the Estimation and Inference of a Cointegrated Regression in Panel Data." In Nonstationary Panels, Panel Cointegration, and Dynamic Panels, ed. B.H. Baltagi, T.B. Fomby, and R.C. Hill, pp. 179-222. Bingley, UK: Emerald Group.
  • Kavoussi, R. 1984. "Export Expansion and Economic Growth: Further Empirical Evidence." Journal of Development Economics 14, no. 1 (January-February): 241-250.
  • Kim, D.; S. Lin; and Y. Suen. 2012. "Dynamic Effects of Financial Openness on Economic Growth and Macroeconomic Uncertainty." Emerging Markets Finance & Trade 48, no. 1 (January-February): 25-54.
  • Krueger, A. 1985. "Import Substitution Versus Export Promotion." Finance and Development 22, no. 2: 20-23.
  • Krugman, P. 1994. "The Myth of Asia's Miracle." Foreign Affairs 73, no. 6 (November-December): 62-78.
  • Leybourne, S. 1995. "Testing for Unit Roots Using Forward and Reverse Dickey-Fuller Regressions." Oxford Bulletin of Economics and Statistics 57, no. 4: 559-571.
  • Lim, S.; R. Chia; and C. Ho. 2010. "Long-run Validity of Export-Led Growth: An Empirical Reinvestigation from Linear and Nonlinear Cointegration Test." Economics Bulletin 30, no. 2: 1182-1190.
  • Lim, S.; M. Ghazali; and C. Ho. 2011. "Export and Economic Growth in Southeast Asia Current Newly Industrialized Countries: Evidence from Nonparametric Approach." Economics Bulletin 31, no. 3: 2683-2693.
  • Love, J. 1994. "Engines of Growth: The Export and Government Sectors." World Economy 17, no. 2: 203-218.
  • Love, J., and R. Chandra. 2004. "Testing Export-Led Growth in India, Pakistan and Sri Lanka Using a Multivariate Framework." Manchester School 72, no. 4: 483-496.
  • Love, J., and R. Chandra. 2005. "Testing Export-Led Growth in Bangladesh in a Multivariate VAR Framework." Journal of Asian Economics 15, no. 6: 1155-1168.
  • Lucas, R.E. 2009. "Trade and the Diffusion of the Industrial Revolution." American Economic Journal: Macroeconomics 1, no. 1: 1-25.
  • Lussier, M. 1993. "Impacts of Exports on Economic Performance: A Comparative Study." Journal of African Economies 2, no. 1: 106-127.
  • Mahadevan, R., and S. Suardi. 2008. "A Dynamic Analysis of the Impact of Uncertainty on Import- and/or Export-Led Growth: The Experience of Japan and the Asian Tigers." Japan and the World Economy 20, no. 2: 155-174.
  • McNab, R., and R. Moore. 1998. "Trade Policy, Export Expansion, Human Capital and Growth." Journal of International Trade and Economic Development 7, no. 2: 237-256.
  • Medina-Smith, E.J. 2001. "Is the Export-Led Growth Hypothesis Valid for Developing Countries? A Case Study of Costa Rica." United Nations Conference on Trade and Development, Policy Issues in International Trade and Commodities Study Series, no. 7.
  • Michaely, M. 1977. "Exports and Growth: An Empirical Investigation." Journal of Development Economics 4, no. 1: 49-53.
  • Oxley, L. 1993. "Cointegration, Causality and Export-Led Growth in Portugal, 1865-1985." Economics Letters 43, no. 2: 163-166.
  • Parida, P., and P. Sahoo. 2007. "Export-Led Growth in South Asia: A Panel Cointegration Analysis." International Economic Journal 21, no. 2: 155-175.
  • Pedroni, P. 1999. "Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors." Oxford Bulletin of Economics and Statistics 61, supp. 1: 653-670.
  • Pedroni, P. 2001. "Purchasing Power Parity Tests in Cointegrated Panels." Review of Economics and Statistics 83, no. 4: 727-731.
  • Pedroni, P. 2004. "Panel Cointegration: Asymptotic and Finite Sample Properties of Pooled Time Series Tests with an Application to the PPP Hypothesis." Econometric Theory 20, no. 3: 597-625.
  • Pesaran, M. 2006. "Estimation and Inference in Large Heterogeneous Panels with a Multifactor Error Structure." Econometrica 74, no. 4: 967-1012.
  • Ram, R. 1985. "Exports and Economic Growth: Some Additional Evidence." Economic Development and Cultural Change 33, no. 2: 415-425.
  • Ram, R. 1987. "Exports and Economic Growth in Developing Countries: Evidence from Time-Series and Cross-Section Data." Economic Development and Cultural Change 36, no. 1: 51-63.
  • Reppas, P., and D. Christopoulos. 2005. "The Export-Output Growth Nexus: Evidence from African and Asian Countries." Journal of Policy Modeling 27, no. 8: 929-940.
  • Riezman, R.G.; P.M. Summers; and C.H. Whiteman. 1996. "The Engine of Growth or Its Handmaiden? A Time-Series Assessment of Export-Led Growth." Empirical Economics 21, no. 1: 77-113.
  • Rodrik, D. 1995. "Trade and Industrial Policy Reform." In Handbook of Development Economics, vol. 3, part B, ed. J. Behrman and T.N. Srinivasan, pp. 2925-2982. Amsterdam: Elsevier.
  • Sachs, J.D.; A. Warner; A. Åslund; and S. Fischer. 1995. "Economic Reform and the Process of Global Integration." Brookings Papers on Economic Activity 26, no. 1: 1-118.
  • Sadorsky, P. 2012. "Energy Consumption, Output and Trade in South America." Energy Economics 34, no. 2: 476-488.
  • Sharma, S., and D. Dhakal. 1994. "Causal Analyses Between Exports and Economic Growth in Developing Countries." Applied Economics 26, no. 12: 1145-1157.
  • Sharma, S.S., and R. Smyth. 2009. "Is Economic Growth Export-Led or Import-Led in the Pacific Island Countries? Evidence from Panel Data Models." Discussion Paper DEVDP 09-15, Development Research Unit, Monash University, Melbourne.
  • Siliverstovs, B., and D. Herzer. 2006. "Export-Led Growth Hypothesis: Evidence for Chile." Applied Economics Letters 13, no. 5: 319-324.
  • Singh, T. 2003. "Effects of Exports on Productivity and Growth in India: An Industry-Based Analysis." Applied Economics 35, no. 7: 741-749.
  • Thangavelu, S., and G. Rajaguru. 2004. "Is There an Export or Import-Led Productivity Growth in Rapidly Developing Asian Countries? A Multivariate VAR Analysis." Applied Economics 36, no. 10: 1083-1093.
  • Tsen, W. 2010. "Exports, Domestic Demand, and Economic Growth in China: Granger Causality Analysis." Review of Development Economics 14, no. 3: 625-639.
  • Tyler, W. 1981. "Growth and Export Expansion in Developing Countries: Some Empirical Evidence." Journal of Development Economics 9, no. 1: 121-130.
  • Van den Berg, H., and J.R. Schmidt. 1994. "Foreign Trade and Economic Growth: Time Series Evidence from Latin America." Journal of International Trade and Economic Development 3, no. 3: 249-268.
  • Wacziarg, R., and K. Welch. 2008. "Trade Liberalization and Growth: New Evidence." World Bank Economic Review 22, no. 2: 187-231.
  • Waithe, K.; T. Lorde; and B. Francis. 2011. "Export-Led Growth: A Case Study of Mexico." International Journal of Business, Humanities and Technology 1, no. 1: 33-44.
  • Westerlund, J., and R. Larsson. 2009. "A Note on the Pooling of Individual PANIC Unit Root Tests." Econometric Theory 25: 1851-1868.
  • World Bank. 2012. World Development Indicators. Washington, DC.
  • Xu, Z. 1996. "On the Causality Between Export Growth and GDP Growth: An Empirical Reinvestigation." Review of International Economics 4, no. 2: 172-184.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.