Export-led growth vs growth-led exports: what matters for the Brazilian growth experience after trade liberalization?

Ricardo Araujo, Joanílio Rodolpho Teixeira and Cristiane Soares
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Joanílio Rodolpho Teixeira: University of Brasilia, Brazil
Cristiane Soares: Brazilian Institute of Geography and Statistics, Rio de Janeiro, Brazil

Review of Keynesian Economics, 2015, vol. 3, issue 1, 108-128

Abstract: In this paper, we study the Brazilian growth experience after trade liberalization by testing both the export-led growth (ELG) and the growth-led exports (GLE) hypotheses through econometric tests between exports and gross domestic output (GDP). Although the paper provides further evidence that after openness neither ELG nor GLE hypotheses can satisfactorily explain the Brazilian growth experience, when disaggregated data is adopted it is possible to identify some sectors such as intermediate goods, commodities, and manufactured products whose performance is strongly correlated with real GDP. These results suggest that a disaggregated approach enhances our understanding of the Brazilian growth experience after trade liberalization.

Keywords: Export-led growth; growth-led exports; cumulative causation; Granger causality test (search for similar items in EconPapers)
JEL-codes: C22 C32 F43 O11 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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Related works:
Working Paper: ‘Export Led Growth’ x ‘Growth Led Exports’: What Matters for the Brazilian Growth Experience after Trade Liberalization? (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:elg:rokejn:v:3:y:2015:i:1:p108-128

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