Structural change in exports and economic growth: cointegration and causality analysis for Spain (1961-2000)
Abstract:The Spanish export-led growth hypothesis is re-examined from the trade liberalization process initiated four decades ago. For this purpose both the export expansion and the progression from 'traditional' exports to manufactured and semimanufactured exports are taken into consideration. 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.
Document Type: Research Article
Affiliations: Department of Economics and International Economics Institute Universitat Jaume I Campus Riu Sec 12071 Castellón Spain
Publication date: 2004-03-01