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Structural Change In Exports And Economic Growth: Cointegration And Causality Analysis For Spain (1961-2000)

Author

Listed:
  • Jacint Balaguer

    (Universitat Jaume I)

  • Manuel Cantavella-Jordá

    (Universitat Jaume I)

Abstract

In this paper the Spanish export-led growth hypothesis is re-examined from the trade liberalisation process initiated four decades ago. For this purpose it is taken under consideration both the export expansion and the progression from "traditional" exports to manufactured and semi-manufactured exports. A new evidence is reported for the above period. Alongside a feedback between aggregate exports and real output, it has been proved that the structural transformation in export composition has also become a key factor for Spain?s economic development. En este trabajo se estudia el sector exportador como motor del crecimiento económico español a partir del proceso de liberalización comercial iniciado hace cuatro décadas. Para este propósito se ha tenido en cuenta tanto la expansión de las exportaciones agregadas como el cambio en la estructura de las mismas. Los resultados indican que existe doble causalidad entre la expansión de las exportaciones y el crecimiento de la producción real y que, además, la transformación experimentada en la estructura exportadora hacia los sectores tecnológicos y manufactureros ha sido un factor clave en el desarrollo económico español de los últimos años.

Suggested Citation

  • Jacint Balaguer & Manuel Cantavella-Jordá, 2002. "Structural Change In Exports And Economic Growth: Cointegration And Causality Analysis For Spain (1961-2000)," Working Papers. Serie EC 2002-22, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    • Handle: RePEc:ivi:wpasec:2002-22
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    References listed on IDEAS

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    15. Shahbaz, Muhammad & Mohammad, Mafizur Rahman, 2014. "The Dynamics of Exports, Financial Development and Economic Growth in Pakistan: New Extensions from Cointegration and Causality Analysis," MPRA Paper 53225, University Library of Munich, Germany, revised 19 Jan 2014.
    16. Bernini, Cristina & Cracolici, Maria Francesca, 2015. "Demographic change, tourism expenditure and life cycle behaviour," Tourism Management, Elsevier, vol. 47(C), pages 191-205.
    17. Harrison, Ann E. & Rodriguez-Clare, Andres, 2009. "Trade, Foreign Investment, and Industrial Policy," MPRA Paper 15561, University Library of Munich, Germany.
    18. Antonios Adamopoulos & Athanasios Vazakidis, 2019. "A System Equation Model A Comparative Study for G-7 Countries," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 69(4), pages 74-109, October-D.
    19. Harrison, Ann & Rodríguez-Clare, Andrés, 2010. "Trade, Foreign Investment, and Industrial Policy for Developing Countries," Handbook of Development Economics, in: Dani Rodrik & Mark Rosenzweig (ed.), Handbook of Development Economics, edition 1, volume 5, chapter 0, pages 4039-4214, Elsevier.
    20. Ferreira, Gustavo F.C., 2009. "From Coffee Beans to Microchips: Export Diversification and Economic Growth in Costa Rica," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 47178, Southern Agricultural Economics Association.
    21. Fr餩ric Laurin, 2012. "Trade and regional growth in Spain: panel cointegration in a small sample," Applied Economics, Taylor & Francis Journals, vol. 44(4), pages 435-447, February.
    22. Stefan F. Schubert, 2016. "A short-run model of a two-sector economy with tourism and unemployment," Tourism Economics, , vol. 22(4), pages 763-778, August.

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