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Exports, Imports, Government Consumption And Economic Growth In Upper-Middle Income Countries, Minh Dao
Exports, Imports, Government Consumption And Economic Growth In Upper-Middle Income Countries, Minh Dao
Minh Dao
Esfahani (1991) shows that the statistically significant correlation between export promotion and economic growth in semi-industrialized countries (SICs) has been mainly attributable to the role of exports in reducing import ‘shortages’, which have impeded output growth in these countries. As a result, export-promotion policies as a superior development strategy in SICs play an important role in those that cannot secure sufficient foreign aid or investment. Esfahani (1991) also develops a simultaneous equations model to address the simultaneity bias between GDP and export growth rates. In this article we extend the model developed by Esfahani (1991) by incorporating the contribution of …