Is the Export-led Growth Hypothesis Valid for Industrialized Countries?
用协整和格兰杰因果方法检验四个发达市场经济体的出口与生产率关系，发现外向型政策也有利于发达国家的生产率表现。
This paper tries to establish whether a causal link between exports and productivity exists for four developed market economies based on cointegration and Granger- causality techniques. These techniques allow serious problems encountered in previous attempts to examine this relationship to be overcome, while recent trade theory suggests that the relationship between trade and productivity is fundamentally ambiguous. The findings of the econometric analysis suggest that an outward-looking regime favours the productivity performance of developed market economies as well as that of developing countries.