This paper challenges the common view that exports generally contribute more to GDP growth than a pure change in export volume, as the export-led growth hypothesis predicts. Applying panel cointegration techniques to a production function with non-export GDP as the dependent variable, we find...

This article uses panel cointegration and causality techniques to examine the long run relationship between foreign aid and private investment. Our main result is that aid has a statistically significant negative effect on private investment. This result is robust to outliers, different measures...

The objective of this article is twofold. First, it is to study the applicability of the widely used Autoregressive Distributed Lag Model (ARDL) in a pooled data setting. Second, it is to analyse Chile's market shares in the EU during the period 1988 to 2002, pointing to application problems...

This paper examines the impact of outward foreign direct investment (OFDI) on domestic investment by applying co-integration techniques to macroeconomic time series data for the United Sates and Germany. We show that the two countries differ: In the case of the US, OFDI has positive long-run...

This paper investigates Turkey's sectoral trade flows to the EU based on panel data from the period 1988 to 2002. Turkey's sixteen most important export sectors are analysed. Emphasis is placed on the role of price competition, EU protection, and transport costs in the export trade between...

This study examines the export-led growth hypothesis using annual time series data from Chile in a production function framework. It addresses the problem of specification bias under which previous studies have suffered and focuses on the impact of manufactured and mining exports on productivity...

It is frequently suggested that export diversification contributes to an acceleration of growth in developing countries. Horizontal export diversification into completely new export sectors may generate positive externalities on the rest of the economy as export oriented sectors gain from...

This study examines the export-led growth hypothesis using annual time series data from Chile in a production function framework. It addresses the problem of specification bias under which previous studies have suffered, and focuses on the impact of manufactured and mining exports on...