Export diversification and economic growth. Empirical: evidence for Chile and Colombia (1980-2015)
DOI:
https://doi.org/10.46661/revmetodoscuanteconempresa.3299Keywords:
exports’ diversification, economic growth, revealed comparative advantageAbstract
The relationship between exports and economic growth has been widely discussed in the literature, although there is currently no clear consensus on the subject. This article evaluates the hypothesis that the export-diversification is linked to economic growth through externalities of the type learning by doing and learning by exporting, by using multivariate methods for time series -VAR and VEC models- with exports’s data from Chile and Colombia for the period 1995-2015. The Dickey-Fuller Augmented test is applied to check the series’s stationarity. The Johansen test is used to determine the degree of cointegration between the variables, and the Granger causality test to evaluate the causality relationship between them. The results show that the export diversification-led growth is relevant for Chile, while for Colombia a causal relationship that goes from economic growth to export diversification was detected.
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