An Analysis of So-Called Export-led Growth

September 1, 2008

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Format: Chicago

Jie Yang. An Analysis of So-Called Export-led Growth, (USA: International Monetary Fund, 2008) accessed November 21, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The stylized fact that strong economic growth is usually accompanied with strong export growth leads many people to conclude that the export sector is the main driving force behind those episodes. The model in this paper, however, shows that the non-tradable sector may also generate high economic growth together with high export growth. Evidence shows that out of 71 "so-called" export-led growth episodes, only 37 of them are consistent with the "exports driving growth" hypothesis. Most of the remaining episodes (24 cases) experienced significant real exchange rate depreciation and are more likely to be characterized by "growth driving exports".

Subject: Demand elasticity, Export performance, Exports, Labor productivity, Real exchange rates

Keywords: Cost reduction, Economic growth, Money supply, Price elasticity of demand, WP

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2008/220
Stock No:

WPIEA2008220
ISBN:

9781451870787
ISSN:

1018-5941

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