Export diversification and growth: an empirical investigation

Using recent theories of growth, this paper presents empirical evidence that export diversification promotes economic growth. This result is robust to different specifications of the growth equations and different measures of export diversification. In developing countries, export diversification is associated also with higher investment rates.

[1]  J. Anjaria.  Strategy of economic development , 1971 .

[2]  Moshe Syrquin,et al.  Patterns of structural change , 1988 .

[3]  P. Romer,et al.  Economic Integration and Endogenous Growth , 1990 .

[4]  Sebastian Edwards,et al.  Openness, Trade Liberalization, and Growth in Developing Countries , 1993 .

[5]  P. Romer.  Endogenous Technological Change , 1989, Journal of Political Economy.

[6]  J. Stiglitz.  SOME LESSONS FROM THE EAST ASIAN MIRACLE , 1996 .

[7]  R. Summers,et al.  The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950-1987 , 1991 .

[8]  H. White.  A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity , 1980 .

[9]  Patrick Clawson,et al.  The East Asian miracle: Economic growth and public policy: By the World Bank. (New York: Oxford University Press for the World Bank, 1993. 389 pp. $19.95, paper.) , 1995 .

[10]  E. Helpman.  Innovation, Imitation, and Intellectual Property Rights , 1992 .

[11]  J. Riedel.  A Balanced-Growth Version of the Linkage Hypothesis: A Comment , 1976 .

[12]  Elhanan Helpman,et al.  Trade, Knowledge Spillovers, and Growth , 1990 .

[13]  Hollis B. Chenery.  Structural change and development policy , 1979 .

[14]  Stanley Fischer,et al.  The Role of Macroeconomic Factors in Growth , 1993 .

[15]  M. Ferrantino,et al.  Export diversification and structural dynamics in the growth process: The case of Chile , 1997 .

[16]  R. Levine,et al.  A Sensitivity Analysis of Cross-Country Growth Regressions , 1991 .

[17]  B. Thomas,et al.  Migration and Economic Growth , 1954 .

[18]  Vivienne Monty.  ReviewHandbook of International Trade and Development Statistics: United Nations Conference on Trade and Development (UNCTAD). Geneva: The United Nations, 1994. 602p. ISBN: 92-1-012034-5. $80.00 , 1996 .

[19]  G. Grossman,et al.  Innovation and growth in the global economy , 1993 .

[20]  Export Instability and the External Balance in Developing Countries , 1994 .

[21]  E. Helpman.  Innovation, Imitation, and Intellectual Property Rights , 1992 .