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International Trade and Economic Growth: The Nexus, the Evidence, and the Policy Implications for South Africa

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  • Kwame Osei-Assibey
  • Omolemo Dikgang

Abstract

We revisit the trade-growth nexus for the specific case of South Africa. In recent years, policymakers are focusing more on export growth strategies to stimulate growth prospects. Recent experience in some emerging economies, however, suggests that imports have the potential to positively impact economic growth. Our empirical evidence supports this: We observe that controlling for exogenous shocks including exchange rate volatility and global economic sentiment is necessary for robust and sustainable long-run export-driven economic and import growth. The short-run dynamics further underscores the importance of imports to growth. The significance of our findings and policy implications are discussed.

Suggested Citation

  • Kwame Osei-Assibey & Omolemo Dikgang, 2020. "International Trade and Economic Growth: The Nexus, the Evidence, and the Policy Implications for South Africa," The International Trade Journal, Taylor & Francis Journals, vol. 34(6), pages 572-598, November.
    • Handle: RePEc:taf:uitjxx:v:34:y:2020:i:6:p:572-598
    DOI: 10.1080/08853908.2020.1737598
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    Citations

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    Cited by:

    1. Courage Mlambo, 2021. "The Impact of Port Performance on Trade: The Case of Selected African States," Economies, MDPI, vol. 9(4), pages 1-18, September.
    2. Ayhan Orhan & Melek Emikönel & Murat Emikönel & Rui Alexandre Castanho, 2022. "Reflections of the “Export-Led Growth” or “Growth-Led Exports” Hypothesis on the Turkish Economy in the 1999–2021 Period," Economies, MDPI, vol. 10(11), pages 1-18, October.
    3. Samson Edo, 2024. "Comparative Performance of Trade Openness and Sovereign Debt Accumulation in Fostering Economic Growth of Sub-Saharan African Countries," Foreign Trade Review, , vol. 59(1), pages 98-116, February.
    4. Murshed, Muntasir & Apergis, Nicholas & Alam, Md Shabbir & Khan, Uzma & Mahmud, Sakib, 2022. "The impacts of renewable energy, financial inclusivity, globalization, economic growth, and urbanization on carbon productivity: Evidence from net moderation and mediation effects of energy efficiency," Renewable Energy, Elsevier, vol. 196(C), pages 824-838.

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