Examining the export-led growth hypothesis for Spain in the last century

Abstract

The relationship between real income and real exports is examined for the Spanish economy in the last century (1901-1999) using annual data. The significant changes of the Spanish economy during this period have made of the analysis a mixed one. The export-led growth hypothesis is supported during the economic liberalization period whereas for the protectionist and autarkic period neither a long-run nor a short-run relationship between those two variables are found. When the century as a whole is considered, then, a unidirectional causality running from income to exports is exhibited.

Inbound tourism and long-run economic growth

“…The TLG hypothesis was directly derived from the export-led growth hypothesis (see Balaguer & Cantavella-Jordá, 2001). Exports are generally supposed to contribute positively to economic growth through different means: facilitating the exploitation of economies of scale (Helpman & Krugman, 1985), relieving the foreign exchange constraint (McKinnon, 1964), enhancing efficiency through increased competition (Krueger, 1980), and promoting the diffusion of technical knowledge (Grossman & Helpman, 1991).…”

Religious Tourism and Economic Growth in Oil-Rich Countries: Evidence from Saudi Arabia

“…Most studies that address the tourism-led growth hypothesis (TLG) have been based mainly on the export-led growth hypothesis (ELG) (see Cortes-Jimenez & Pulina, 2010;Jayathilake, 2013;and Balaguer & Cantavella-Jordà, 2001). This hypothesis relies on the premise of moving consumers rather goods (non-traded goods) and consequently considers tourism to be a future strategy for economic expansion.…”

Una mirada ingenua sobre las series del sector exterior, 1869–1999

“…Las exportaciones son la variable más exógena, apenas reciben una débil influencia de las importaciones y ninguna de la renta; en cambio, las importaciones dependen fuertemente de exportaciones y renta y ésta de las dos vertientes del comercio. Nuestros resultados son aquí de nuevo consistentes con los hallados por Balaguer y Cantavella-Jordá (2001, 2004) para igual período, aunque con diferente metodología y referidos únicamente al comercio de mercancías.…”