Trade liberalization and economic growth in Central America
JC Moreno Brid, E Pérez Caldentey - 2003 - repositorio.cepal.org
This article examines the long-run relationship between export performance and economic
growth in three Central American countries from 1950 to 1999. Therefore, it excludes the
recent years of slowdown in the world economy, 2000-2002. The cointegration analysis
supports the view that the external sector has been a key determinant of these countries'
long-run rate of economic growth. The article also suggests that the trade liberalization
experiences seen since the mid-1980s have had very disparate impacts on these countries' …
growth in three Central American countries from 1950 to 1999. Therefore, it excludes the
recent years of slowdown in the world economy, 2000-2002. The cointegration analysis
supports the view that the external sector has been a key determinant of these countries'
long-run rate of economic growth. The article also suggests that the trade liberalization
experiences seen since the mid-1980s have had very disparate impacts on these countries' …
Terms of trade, exports and economic growth in Central America: a long-term view
E Pérez, JC Moreno-Brid - Banca Nazionale del Lavoro …, 1999 - search.proquest.com
Building on the work of Roy Harrod (1933), AP. Thirlwall develoPed in the late Seventies an
analytical framework known as the balance-of—payments-constrained growth model (BPC-
model hereaf-ter) stating that, in the long run, economic growth is mainly determined by the
evolution of exports, the terms of trade, and the elasticities of imports. This line of thought
complements earlier research based on the so-called 'GAP'models, that identify the lack of
foreign exchange as a key restriction to economic growth (see Chenery and Bruno 1962 …
analytical framework known as the balance-of—payments-constrained growth model (BPC-
model hereaf-ter) stating that, in the long run, economic growth is mainly determined by the
evolution of exports, the terms of trade, and the elasticities of imports. This line of thought
complements earlier research based on the so-called 'GAP'models, that identify the lack of
foreign exchange as a key restriction to economic growth (see Chenery and Bruno 1962 …