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Industrialisation and Macroeconomic Performance in Developing Countries under Alternative Trade Strategies

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  • Greenaway, David
  • Nam, Chong Hyun

Abstract

The role of international trade in industrialization and the impact of foreign trade regime on macroeconomic performance has been a source of lasting controversy over the postwar period. Th is paper analyzes the experience of forty-one less developed countrie s, some of which have followed outward-oriented strategies. Various c riterion are used to distinguish between alternative strategies, and a variety of indicators of industrialization and macro-economic perfo rmance are examined. The find-ings suggest that outward-oriented econ omies have generally performed better than inward-oriented economies. Copyright 1988 by WWZ and Helbing & Lichtenhahn Verlag AG

Suggested Citation

  • Greenaway, David & Nam, Chong Hyun, 1988. "Industrialisation and Macroeconomic Performance in Developing Countries under Alternative Trade Strategies," Kyklos, Wiley Blackwell, vol. 41(3), pages 419-435.
    • Handle: RePEc:bla:kyklos:v:41:y:1988:i:3:p:419-35
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    Cited by:

    1. Ram Mudambi, 1999. "Multinational Investment Attraction: Principal-Agent Considerations," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 6(1), pages 65-79.
    2. Weede Erich, 2001. "Südkorea und Rußland: Wie man Wohlstand erarbeitet oder verspielt," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 52(1), pages 175-188, January.
    3. Kim, Kwan S., 1994. "Foreign Trade Regimes, Employment, and Income Distribution―Selected Developing Country Studies―," Economic Review, Hitotsubashi University, vol. 45(3), pages 218-229, July.
    4. Helena Johansson, 1994. "The Economics of Export Processing Zones Revisited," Development Policy Review, Overseas Development Institute, vol. 12(4), pages 387-402, December.
    5. Henrekson, Magnus & Torstensson, Johan & Torstensson, Rasha, 1997. "Growth effects of European integration," European Economic Review, Elsevier, vol. 41(8), pages 1537-1557, August.
    6. Don Clark & W. Charles Sawyer & Richard Sprinkle, 1999. "Openness and industrialization in developing countries," Applied Economics Letters, Taylor & Francis Journals, vol. 6(3), pages 161-164.
    7. V. N. Balasubramanyam & M. Salisu & David Sapsford, 1999. "Foreign direct investment as an engine of growth," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 8(1), pages 27-40.
    8. Umoh, Okon J. & Onye, Kenneth U., 2013. "The Growth Implication of Trade Liberalization in West Africa," MPRA Paper 88371, University Library of Munich, Germany.
    9. Yao, Shujie & Wei, Kailei, 2007. "Economic growth in the presence of FDI: The perspective of newly industrialising economies," Journal of Comparative Economics, Elsevier, vol. 35(1), pages 211-234, March.
    10. Maurice Obstfeld & Kenneth Rogoff, 2001. "The Six Major Puzzles in International Macroeconomics: Is There a Common Cause?," NBER Chapters, in: NBER Macroeconomics Annual 2000, Volume 15, pages 339-412, National Bureau of Economic Research, Inc.
    11. Marius Brülhart & Mary J. Kelly, 1999. "Ireland’s Trading Potential with Central and Eastern European Countries - A Gravity Study," The Economic and Social Review, Economic and Social Studies, vol. 30(2), pages 159-174.
    12. Young Seok Ahn & Slamet Seno Adji & Thomas Willett, 1998. "The Effects of Inflation and Exchange Rate Policies on Direct Investment to Developing Countries," International Economic Journal, Taylor & Francis Journals, vol. 12(1), pages 95-104.
    13. Onafowora, Olugbenga A. & Owoye, Oluwole, 1998. "Can Trade Liberalization Stimulate Economic Growth in Africa?," World Development, Elsevier, vol. 26(3), pages 497-506, March.
    14. Edwards, Sebastian, 1998. "Openness, Productivity and Growth: What Do We Really Know?," Economic Journal, Royal Economic Society, vol. 108(447), pages 383-398, March.
    15. Arvind Panagariya, 2004. "Miracles and Debacles: In Defence of Trade Openness," The World Economy, Wiley Blackwell, vol. 27(8), pages 1149-1171, August.
    16. Zoran Aralica & Nebojša Stojčić, 2015. "Regional Patterns of Deindustrialization and Prospects for Reindustrialization in South and Central East European Countries," wiiw Balkan Observatory Working Papers 118, The Vienna Institute for International Economic Studies, wiiw.
    17. A. A. Gnidchenko, 2017. "Import substitution as a complementary strategy," Studies on Russian Economic Development, Springer, vol. 28(6), pages 593-599, November.
    18. van den Berg, Hendrik, 1997. "The relationship between international trade and economic growth in Mexico," The North American Journal of Economics and Finance, Elsevier, vol. 8(1), pages 1-21.
    19. Mohsen Bahmani-Oskooee & Farhang Niroomand, 1999. "Openness and economic growth: an empirical investigation," Applied Economics Letters, Taylor & Francis Journals, vol. 6(9), pages 557-561.
    20. Christos N. Pitelis, 2009. "The Sustainable Competitive Advantage and Catching-up of Nations: FDI, Clusters and the Liability (Asset) of Smallness," Management International Review, Springer, vol. 49(1), pages 95-120, February.
    21. Jayanthakumaran, K., 2000. "Industrialisation: Import Substitution to Export Promotion," Economics Working Papers WP00-09, School of Economics, University of Wollongong, NSW, Australia.
    22. Johansson, Helena & Nilsson, Lars, 1997. "Export processing zones as catalysts," World Development, Elsevier, vol. 25(12), pages 2115-2128, December.

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