Long-Run Economic Growth (Paperback, Softcover reprint of the original 1st ed. 1996)

One of the most enduring questions in economics involves how a nation could accelerate the pace of its economic development. One of the most enduring answers to this question is to promote exports -either because doing so directly influences development via encouraging production of goods for export, or because export promotion permits accumulation of foreign exchange which permits importation of high-quality goods and services, which can in turn be used to expand the nation's production possibilities. In either case, growth is said to be export-led; the latter case is the so-called "two-gap" hypothesis (McKinnon, 1964; Findlay, 1973). The early work on export-led growth consisted of static cross-country com parisons (Michaely, 1977; Balassa, 1978; Tyler, 1981; Kormendi and Meguire, 1985). These studies generally concluded that there is strong evidence in favour of export-led growth because export growth and income growth are highly correlated. However, Kravis pointed out in 1970 that the question is an essen tially dynamic one: as he put it, are exports the handmaiden or the engine of growth? To make this determination one needs to look at time series to see whether or not exports are driving income. This approach has been taken in a number of papers (Jung and Marshall, 1985; Chow, 1987; Serletis, 1992; Kunst and Marin, 1989; Marin, 1992; Afxentiou and Serletis, 1991), designed to assess whether or not individual countries exhibit statistically significant evidence of export-led growth using Granger causality tests."

General

Imprint:	Springer-Verlag
Country of origin:	Germany
Series:	Studies in Empirical Economics
Release date:	October 2011
First published:	1996
Editors:	Steven Durlauf • John F. Helliwell • Baldev. Raj
Dimensions:	235 x 155 x 11mm (L x W x T)
Format:	Paperback
Pages:	206
Edition:	Softcover reprint of the original 1st ed. 1996
ISBN-13:	978-3-642-64747-5
Categories:	Books > Social sciences > Politics & government > International relations > General Books > Business & Economics > Economics > Macroeconomics > General
LSN:	3-642-64747-2
Barcode:	9783642647475

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