Trade Structure and Economic Growth in Emerging and Developing Asia: A Dynamic Panel Analysis

Kaveri Deb ()
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Kaveri Deb: Indian Institute of Information Technology Guwahati

Journal of Quantitative Economics, 2022, vol. 20, issue 3, No 5, 628 pages

Abstract: Abstract A country’s structure of trade and its impact on the economic growth of nations, has added a new dimension to the literature on trade and growth. That a country’s specialization in different products is important in determining the pattern of growth, is being increasing realized and explored in related emerging literature. The current paper associates itself with this idea, and by means of One Step System Generalized Method of Moments estimator applied to dynamic panel models, tries to determine how the structure of trade has influenced the growth rate in the fastest growing region of the world—the emerging and developing Asia. The paper uses alternative measures of trade structure constructed after classifying the merchandise trade data into several categories on the basis of resource, skill and technological requirements. The approach adopted in this paper is thus quite exhaustive, and analyses the problem for the selected region in a manner not attempted in any of the existing studies. Our analysis suggests contradictory results, with measures based on trade specialization highlighting the growth enhancing effect of high skill and technology intensive manufactures, while measures based on trade shares in GDP revealing the growth retarding effects of primary products. Hence, the study reveals that the effect of trade structure on economic growth is dependent upon its adopted definition.

Keywords: Trade structure; Economic growth; Skill; Dynamic panel model (search for similar items in EconPapers)
JEL-codes: C23 C43 F14 F43 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s40953-022-00298-8

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