文档介绍：本科毕业论文外文翻译原文
外文题目:Trade openness and economic growth: is growth export-led or import-led?
出处:Applied Economics(2008, 40, 161–173)
作者:Titus O. Awokuse
原文:
Trade openness and economic growth: is growth export-led or import-led?
Most previous investigations have only focused on the effect of export expansion on economic growth while ignoring the potential growth-enhancing contribution of imports. This article re-examines the relationship between trade and economic growth in Argentina, Colombia, and Peru with emphasis on both the role of exports and imports. Granger causality tests and impulse response functions were used to examine whether growth in trade stimulate economic growth (or vice versa). The results suggest that the singular focus of past studies on exports as the engine of growth may be misleading. Although there is some empirical evidence supporting export-led growth, the empirical support for import-led growth hypothesis is relatively stronger. In some cases, there is also evidence for reverse causality from gross domestic product growth to exports and imports.
I. Introduction
The potential benefit of outward-oriented trade policy for economic growth has been the subject of many empirical investigations. Although several studies have demonstrated the theoretical economic relationship between trade and economic growth, disagreements still persists regarding the causal direction and magnitude of the effects (Bhagwati, 1978; Edwards, 1998). The vast majority of this literature focuses on the causal effect of export on economic growth. The main question in the exportled- growth debate is whether an export-driven outward orienting trade policy is preferable to an inward orienting trade policy in stimulating economic growth. Some researchers argue that causality flows from exports to economic growth and denotes this as the export-led growth (ELG) hypothesis. The reverse causal flow from economic growth to exports is termed growth-led exports (GLE). T