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Exports, Terms of Trade and Economic Growth: Evidence from Countries with Different Level of Openness

Author

Listed:
  • Carlos Dabús

    ((IIESS-CONICET and Departamento de Economía, UNS) Argentina)

  • Fernando Delbianco

Abstract

This paper explores the effects of the ratio exports/GDP and the terms of trade on growth among countries with different level of development and openness. These effects vary among subgroups of countries with different openness and per development level. Nonetheless, in general the evidence seems to support the hypothesis stated in this research. In less developed or better endowed for export countries one or both of the explanatory variables mentioned above encourage for economic growth. Specifically, in advanced economies only the ratio exports/GDP is growth promoting when these are open, and have high per capita but small global GDP and/or relative advantages to be growth export-led. In turn, exports or and the terms of trade trends to promote growth in lower middle income countries. Unfortunately, the surprising results came from the poorest countries. They do not are benefited from a more favourable foreign environment. On the contrary, exports are not significant while an improvement in the terms of trade diminishes their growth.

Suggested Citation

  • Carlos Dabús & Fernando Delbianco, 2019. "Exports, Terms of Trade and Economic Growth: Evidence from Countries with Different Level of Openness," Journal of Reviews on Global Economics, Lifescience Global, vol. 8, pages 327-336.
    • Handle: RePEc:lif:jrgelg:v:8:y:2019:p:327-336
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    File URL: https://www.lifescienceglobal.com/independent-journals/journal-of-reviews-on-global-economics/volume-8/85-abstract/jrge/3586-abstract-exports-terms-of-trade-and-economic-growth-evidence-from-countries-with-different-level-of-openness
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    Citations

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    Cited by:

    1. Mohamad Imdadul Haque & Mohammad Imran Yunus & Abdul Rahman Shaik, 2021. "The Correlates of Terms of Trade in Oil Exporting Countries of Gulf Cooperation Council Region," International Journal of Energy Economics and Policy, Econjournals, vol. 11(4), pages 543-548.
    2. Nzeh Innocent Chile & Okoli Uju Victoria & Okolie David Ogomegbunam & Okolie Jonathan Ibekwe, 2024. "Marginal propensity to import and terms of trade: Panel granger causality evidence from the East African Community (EAC)," Economic and Regional Studies / Studia Ekonomiczne i Regionalne, Sciendo, vol. 17(2), pages 251-269.

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