Large Foreign Markets and Export-Led Growth in Developing Countries: Technical Paper 2004-10

Ufuk Demiroglu

No 15896, Working Papers from Congressional Budget Office

Abstract: Many economists and policymakers believe that international trade played an important role in the economic growth miracles of East Asia, but there is no consensus on the precise way trade helped. However, narrative accounts give the impression that an eminent feature of the growth miracles was a move toward producing goods that higher-income countries produced, adopting the better technologies and methods used in those countries. Those goods were not always demanded much in the domestic markets of the newly industrializing East Asian countries, because of lower aggregate

Date: 2004-08-01
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