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

Autor:	Josephine E. Olson, Werner Kristjanpoller R
Rok vydání:	2014
Předmět:	Latin Americans Cointegration Economics International economics Negative correlation General Economics Econometrics and Finance Finance Gross domestic product
Zdroj:	Emerging Markets Finance and Trade. 50:6-20
ISSN:	1558-0938 1540-496X
DOI:	10.2753/ree1540-496x5001s101
Popis:	Using a data cointegration panel with error correction, we analyze the principal theories of international trade and economic growth—export-led growth (ELG), growth-led exports (GLE), and import-led growth (ILG)—for Latin American countries. The results demonstrate that exports drive growth of gross domestic product (GDP). Although the effects of imports on growth are generally negative, in our disaggregated analysis by country, we find results for eight countries support the ELG theory, results for five countries support the ILG theory, results for one country support both theories and results for one country support neither theory. An interesting finding is the negative correlation between the impacts of exports and the impacts of imports on GDP growth, which implies that, in theory, ELG and ILG cannot exist simultaneously in a country.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::664a73f9f545237791c79d91cf7aa3d1 https://doi.org/10.2753/ree1540-496x5001s101 Zobrazit plný text záznamu Plný text ve formátu PDF