Can Asia Sustain an Export-Led Growth Strategy in the Aftermath of the Global Crisis? An Empirical Exploration
Razmi, Arslan; Hernandez, Gonzalo | December 2011
Abstract
Many developing countries have attempted to pursue the East Asian growth model in recent decades. This model is widely perceived to have been based on export-led growth. Given that developed countries are likely to grow at a slower rate and be less willing to run trade deficits in the post-financial-crisis world, can this growth model be sustained? Using panel data for Asian countries, this paper contributes to addressing this question by distinguishing between different kinds of export- and tradable-led growth in order to more precisely identify the nature of growth in the pre-crisis decades. We find in particular that, among our variables of interest, the proportion of a country's manufactured exports that is destined for industrialized countries is the one most robustly associated with output growth. The results have implications for continued post-crisis growth in Asian developing countries.
Citation
Razmi, Arslan; Hernandez, Gonzalo. 2011. Can Asia Sustain an Export-Led Growth Strategy in the Aftermath of the Global Crisis? An Empirical Exploration. © Asian Development Bank. http://hdl.handle.net/11540/3917. License: CC BY 3.0 IGO.Keywords
Asian Development Bank
Development
Trade
Development Goals
Skills Development
Sustainable Development
Trade Flows
Trade And Development
Food Security And Trade
Trade Volume
Trade Potential
Trade Flows
External Trade
Industrial policy
New technology
Innovations
Industry
Export policy
Import policy
Development assistance
ADB
Curriculum development
Development assistance
Development aid
Development indicators
Development potential
Development models
Project appraisal
Performance appraisal
Regional development bank
Trade development
Import volume
Export volume
Capital
Business
Communication in rural development
Social participation
Occupational training
Partnership
Joint venture
System analysis
Labor and globalization
Labor policy
Regional trading blocs
Foreign trade and employment
Developing countries
Industrial priorities
Technological innovation
Technology transfer
Foreign trade regulation
Industrial relations
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http://hdl.handle.net/11540/3917Metadata
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