Studies in Empirical Economics

Long-Run Economic Growth

Editors: Durlauf, Steven, Helliwell, John F., Raj, Baldev (Eds.)

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About this book

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 comĀ­ 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 essenĀ­ 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.

Table of contents (9 chapters)

  • Long-Run Economic Growth

    Durlauf, Steven (et al.)

    Pages 1-10

  • The Observational Implications of Schumpeterian Growth Theory

    Aghion, Philippe (et al.)

    Pages 13-25

  • Dynamic Common Factors in Large Cross-Sections

    Forni, Mario (et al.)

    Pages 27-42

  • Human Capital and Measurable Dynamic Gains from Economic Integration

    Harris, Richard G.

    Pages 45-75

  • The Engine of Growth or its Handmaiden?

    Riezman, Raymond G. (et al.)

    Pages 77-110

Buy this book

eBook $129.00
price for USA (gross)
  • ISBN 978-3-642-61211-4
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover $179.00
price for USA
  • ISBN 978-3-7908-0959-6
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
Softcover $169.00
price for USA
  • ISBN 978-3-642-64747-5
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Long-Run Economic Growth
Editors
  • Steven Durlauf
  • John F. Helliwell
  • Baldev Raj
Series Title
Studies in Empirical Economics
Copyright
1996
Publisher
Physica-Verlag Heidelberg
Copyright Holder
Physica-Verlag Heidelberg
eBook ISBN
978-3-642-61211-4
DOI
10.1007/978-3-642-61211-4
Hardcover ISBN
978-3-7908-0959-6
Softcover ISBN
978-3-642-64747-5
Series ISSN
1431-8830
Edition Number
1
Number of Pages
206
Additional Information
Originally published as Jorunal: Empirical Economics volume 21 issue 1, 1996
Topics