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Long-Run Economic Growth

  • Conference proceedings
  • © 1996

Overview

Editors:
  1. Steven Durlauf

    1. Department of Economics, University of Wisconsin, Madison, USA

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  2. John F. Helliwell

    1. Department of Economics, University of British Columbia, Vancouver, Canada

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  3. Baldev Raj

    1. Department of Economics, Wilfrid Laurier University, Waterloo, Canada

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Part of the book series: Studies in Empirical Economics (STUDEMP)

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Table of contents (9 papers)

  1. Front Matter

    Pages i-v
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  2. Long-Run Economic Growth

    1. Long-Run Economic Growth

      • Steven Durlauf, John F. Helliwell, Baldev Raj
      Pages 1-10

  3. Testable Implications of Various Growth Theories and Modelling and Identification of Common Shocks

    1. Front Matter

      Pages 11-11
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    2. The Observational Implications of Schumpeterian Growth Theory

      • Philippe Aghion, Peter Howitt
      Pages 13-25

    3. Dynamic Common Factors in Large Cross-Sections

      • Mario Forni, Lucrezia Reichlin
      Pages 27-42

  4. International Trade and Growth Linkages

    1. Front Matter

      Pages 43-43
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    2. Human Capital and Measurable Dynamic Gains from Economic Integration

      • Richard G. Harris
      Pages 45-75

    3. The Engine of Growth or its Handmaiden?

      • Raymond G. Riezman, Charles H. Whiteman, Peter M. Summers
      Pages 77-110

  5. Analysis of Co-Movements and Convergence at Regional Level of Incomes

    1. Front Matter

      Pages 111-111
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    2. Productivity and Convergence Across U.S. States and Industries

      • Andrew B. Bernard, Charles I. Jones
      Pages 113-135

    3. Aggregate and Regional Disaggregate Fluctuations

      • Danny T. Quah
      Pages 137-159

  6. Public Services, Money, and Growth Linkages

    1. Front Matter

      Pages 161-161
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    2. Estimating the Impact of Government Consumption on Growth: Growth Accounting and Endogenous Growth Models

      • Steve Dowrick
      Pages 163-186

    3. Growth and the Neutrality of Money

      • Paul Evans
      Pages 187-202

  7. Back Matter

    Pages 203-206
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Keywords

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 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.

Editors and Affiliations

  • Department of Economics, University of Wisconsin, Madison, USA

    Steven Durlauf

  • Department of Economics, University of British Columbia, Vancouver, Canada

    John F. Helliwell

  • Department of Economics, Wilfrid Laurier University, Waterloo, Canada

    Baldev Raj

Bibliographic Information

  • Book Title: Long-Run Economic Growth

  • Editors: Steven Durlauf, John F. Helliwell, Baldev Raj

  • Series Title: Studies in Empirical Economics

  • DOI: https://doi.org/10.1007/978-3-642-61211-4

  • Publisher: Physica Heidelberg

  • eBook Packages: Springer Book Archive

  • Copyright Information: Physica-Verlag Heidelberg 1996

  • Hardcover ISBN: 978-3-7908-0959-6Published: 11 September 1996

  • Softcover ISBN: 978-3-642-64747-5Published: 06 October 2011

  • eBook ISBN: 978-3-642-61211-4Published: 06 December 2012

  • Series ISSN: 1431-8830

  • Series E-ISSN: 2196-8950

  • Edition Number: 1

  • Number of Pages: 206

  • Additional Information: Originally published as Jorunal: Empirical Economics volume 21 issue 1, 1996

  • Topics: Macroeconomics/Monetary Economics//Financial Economics, Economics, general, International Relations

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