This paper proposes estimating causalities in bilateral international trade in simultaneous systems, including domestic and foreign GDP as well as mutual trade flows. Conventional macroeconomic theory mainly follows partial approaches like import functions or exportled growth. Focusing on the US...

1. Introduction : catch-up -- 2. Export-oriented growth : positive aspects -- 3. Institutionalizing an export-oriented regime -- 4. Trade pattern in the early phase of catch-up -- 5. The engine of catch-up : big conglomerates -- 6. Growth and equity -- 7. Experiences of East Asian NICs -- 8. The...