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題名 Exports, Terms of Trade, and Growth
作者 林佑龍
Yo-long Lin
貢獻者 翁永和
林佑龍
Yo-long Lin
關鍵詞 Export-biased growth
Import-biased growth
Terms of trade
Export promotion hypothesis
Production-led hypothesis
Export-reducing production hypothesis
Production-reducing export hypothesis
Granger causality
日期 2002
上傳時間 18-Sep-2009 17:35:58 (UTC+8)
摘要 論文摘要
     
     本論文由兩篇獨立的文章所構成,第一篇文章從個體角度出發,探討臺灣產業出口與成長之間的關聯性;第二篇文章則以總體的角度,分析世界各主要國家經濟成長的型態(包括出口偏向型的成長與進口偏向型的成長)對該國貿易條件的影響。
     
     長久以來,出口與產出之間的相互影響向來是廣受重視的議題。在國際經濟領域中,多數研究均專注於兩者間理論之建立,關於實證方面的探討並不多見,而個體角度來探討產業出口與成長之間的文獻更是稀少,以臺灣產業出口與成長之間因果關係為對象的研究則付之闕如。臺灣的經濟成就向來被歸功於出口擴張政策的成功,但出口導向的影響範圍究竟擴及多少產業的效果仍不明朗,因此第一篇文章關心的重點,在於探討對我國的產業而言出口擴張是否是個有效的政策?而究竟出口導向和產出導向哪一種政策的效果較好,也是本文所關心的目標。
     
     第二篇文章討論成長型態對貿易條件的影響。由於出口偏向型的成長會使本國願意以更多出口財來換取進口財,將會使本國出口財的國際價格相對下降,進而惡化本國的貿易條件,改善外國的貿易條件;反之,在進口偏向型成長的情況下,出口財的減少則會使本國貿易條件改善,外國貿易條件惡化。是以一國的經濟成長對該國貿易條件的影響,將取決於其生產可能曲線外移的方向。本文嘗試以八個工業化國家和七個開發中國家為對象,在加入成長偏向政策、物價、匯率、所得移轉、對外投資、貿易平衡、貿易開放程度等因素的考慮下,來驗證成長型態對其貿易條件的影響效果是否符合理論的規範。
The purpose of first paper is to investigate the empirical relationships between exports and domestic production in 22 Taiwan main industries, using time series data for the period 1982:01~2002:07. Different from the previous literatures, this paper examines the relations by taking into account industrial data because we are wondering whether the causal links between exports and outputs still sustain in individual industry, and either export promotion or production-led policies are more effective for industrial production. Hence, three related topics will be discussed: to recognize the incidence of export promotion policy in Taiwan industries, to explore either export promotion or production-led policies is more effective for industrial production, and to detect whether all exportation-oriented industries would simultaneously support export promotion hypothesis. The findings of the econometric analysis employing Granger causality test do not have enough evidence to support that the proportion of exports to production is a necessary condition for generating export promotion. Nevertheless, this study suggests that production makes great influence on exports in Taiwan individual industry but the effects of exports on production is not so prevailing as we thought before. Therefore, the influence of production to exports in Taiwan industry is more prevalent than that of exports to outputs.
     
     The purpose of the second paper is to examine the impacts of growth types on terms of trade by making a comparison between 8 industrial countries and 7 developing countries (involving 3 NICs countries). This paper finds that the theories seems not be supported because evidence shows the occurrence of positive effects of export-biased growth to terms of trade are more prevalent than negative ones. Moreover, the empirical results of negative incidence shown by import-biased growth come into conflict with theories, and the impacts of import-biased growth on terms of trade are indefinite. In addition, most results reveals that export-biased growth and import-biased growth policies in industrial countries are invalid, and most results in NICs and developing countries are ambiguous while export-biased growth or import-biased growth policies are adopted. Furthermore, the empirical results reveal that income transferring have great or opposite influence in NICs and developing countries, and trade openness is advantageous to NICs and developing countries but is disadvantageous to developed ones.
參考文獻 References of Chapter 1:
Akaike, H. (1973), Information theory and an extension of the maximum likelihood principle, In B. Petrov and F. Csaki (eds) Second International Symposium on Information Theory, Budapest: Akademiai Kiado, 267-82.
Bahmani-Oskooee, M., H. Mohtadi, and G. Shabsigh (1991) Exports, growth and causality in LDCs: a re-examination, Journal of Development Economics, 36, 405-15.
Balassa, B. (1978), Exports and economic growth: further evidence, Journal of Development Economics, 5, 181-89.
Bhagwati, J. (1978), Foreign exchange regimes and economic development: anatomy and consequences of exchange control regimes, Ballinger Cambridge.
Chao, W. and J. Buongiorno (2002), Exports and growth: a causality analysis for the pulp and paper industries based on international panel data, Applied Economics, 34, 1-13.
Chen, T. J. and Y. H. Ku (1998), Import substitution and export promotion: substitutes or complements, Taiwan Economic Review, 26:3, 293-317.
Chenery, H. B.(1960), Patterns of industrial growth, American Economic Review, 50, 624-654.
Chow, P. (1987), Causality between exports growth and industrial development, Journal of Development Economics, 26, 55-63.
Dickey, D. and W. Fuller (1979), Distribution of the estimators for autoregressive time series with a unit root, Journal of the American Statistical Assoc., 74, 427-31.
Darrat, A. (1986), Trade and development: the Asian experience, Cato Journal, 6, 695-699.
Engle, R. F. and C.W. J. Granger (1987), Co-integration and error correction: representation, estimation and testing, Econometrica, 55, 251-276.
Fang, W., T. Chang and K. Wang (2000), Exports, imports, and economic growth: evidence from Taiwan and the U.S., Journal of Feng Chia University, 38, 11-28.
Feder, G. (1983), On exports and economic growth, Journal of Development Economics, 12, 59-73.
Grabowski, R., S. Sharma and D. Dhakal (1990), Exports and Japanese economic development, Economic Letters, 32, 127-32.
Granger, C.W. J. (1969), Investigating causal relations by econometric models and cross spectral methods, Econometrica, 37, 424-38.
Granger, C.W. J. and P. Newbold (1974), Spuring regression in econometrics, Journal of Econometrics, 2, 111-120.
Granger, C.W. J. (1988), Some recent developments in a concept of causality, Journal of Econometrics, 39, 199-211.
Heitger, B. (1987), Import Protection and Export Performance: their impact on economic growth, Weltwirtschaftliches Archiv, 260, 1-19.
Johansen, S. (1988), Statistical analysis of cointegration vectors, ” Journal of Economic Dynamics and Control, 12, 231-254.
Johansen, S. (1991), Estimation and hypothesis testing of cointegration vectors in Gaussian vector autoregressive models, Econometrica, 59, 1551-1580.
Jung, W. and P. Marshall (1985), Exports, growth and causality in developing countries, Journal of Development Economics, 18, 1-12.
Kavoussi, R. (1984), Export expansion and economic growth: further empirical evidence, Journal of Development Economics, 14, 241-50.
Krueger, A. (1997), Trade policy and economic development: how we learn, American Economic Review, 87, 1-22.
Kunst, R. and D. Martin (1989), On exports and productivity: a causal analysis, Review of Economics and Statistics, 71, 699-703.
Lucas, R. (1988), On the mechanics of economic development, Journal of Monetary Economics, 21, 3-42.
MacKinnon, J. (1991), Critical values for cointegration tests in long-run economic relationships—readings in cointegration, edited by Engle and Granger, Oxford University Press.
Martin, D. (1992), Is the export-led growth hypothesis valid for industrialized countries? The Review of Economics and Statistics, 74, 678-88
Michaely, M. (1977), Exports and growth: an empirical investigation, Journal of Development Economics, 4, 49-53.
Nelson, C. and C. Plosser (1982), Trends and random walks in macroeconomic time series, Journal of Monetary Economics, 10, 139-162.
Osterwald-Lenum, M. (1992), A note with fractiles of the asymptotic distribution of the maximum likelihood cointegration rank test statistics: four cases, Oxford Bulletin of Economics and Statistics, 54, 461-472.
Phillips, P. (1987), Time series regression with a unit root, Econometrica, 55, 277-301.
Phillips, P. and P. Perron (1988), Testing for a unit root in time series regression, Biometrika, 75, 335-46.
Said, S. and D. Dickey (1984), Testing for unit roots in autoregressive moving average models of unknown order, Biometrika, 71, 599-607.
Sharma, S. and D. Dhakal (1994), Causal analyses between exports and economic growth in developing countries, Applied Economics, 26, 1145-57.
Sims, C. (1972), Money, income, and causality, The American Economic Review, 62, 540-42.
Tyler, W. (1981), Growth and export expansion in development countries: some empirical evidence, Journal of Development Economics, 9, 121-30.
Voivodas, C. (1973), Export, foreign capital inflow and economic growth, Journal of International Economics, 3, 337-49.
Young, A. (1991), Learning by doing and the dynamic effects of international trade, Quarterly Journal of Economics, 106, 396-406.
References Chaper 2:
Batra, R. N. (1973), Nontraded goods, factor market distortions and gains from trade, The American Economic Review, 63, 706-713.
Bhagwati, J. (1958), Immiserizing growth: a geometrical note, Review of Economic Studies, 25, 201-205.
Bhadwati, J. and R. A. Brecher (1980), National welfare in an open economy in the presence of foreign-owned factors of production, Journal of International Economics, 10, 103-115.
Bvckus, D. K., P. J. Kehoe and F. E. Kydland (1994), Dynamics of the trade balance and the terms of trade: the J-curve? The American Economic Review, 84:1, 84-103.
Deverdux, J. and L. L. Chen (1999), Growth, the external terms of trade and endogenous trade liberalization, Public Choice, 98, 43-57.
Diewert, W. E. and C. J. Morrison (1986), Adjusting output and productivity indexes for changes in the terms of trade, The Economic Journal, 96, 659-679.
Flndlay, R. (1980), The terms of trade and equilibrium growth in the world economy, The American Economic Review, 70:3, 291-299.
Galor, O. and S. Lin (1994), Terms of trade and current account dynamics: a methodological critique, International Economic Review, 35:4, 1001-1014.
Greenaway, D. and H. N. Chong (1988), Industrialisation and macroeconomic performance in developing countries, Kyklos, 41, 419-435.
Gujarati, D. N. (1995), Basic econometrics, New York: McGraw-Hill.
Keynes J. M. (1929), The German transfer problem, Economic Journal, 39, 1-7.
Komiya, R. (1967), Nontraded goods and the pure theory of international trade, International Economic Review, 8, 132-152.
Krugman, P. and M. Obstfeld (2000), International economics: theory and policy, Reading, Mass.: Addison-Wesley.
Lahiri, S. and Y. Ono (1989), Terms of trade and welfare,: a general analysis, Economic Record, 65, 27-31.
Michael, M. S. (1992), International factor mobility, non-traded goods, tariffs, and the terms of trade, Canadian Journal of Economics, 25, 493-499.
Molana, H. and D. Vines (1989), North-south growth and the terms of trade: a model on Kaldorian lines, The Economic Journal, 99, 443-453.
Ohlsson, L. (1977), Patterns of engineering trade specialization, 1960-1970, and Sweden’s factor abundance, The Journal of Political Economy, 85, 361-378.
Pryor, F. (1966), Economic growth and the terms of trade, Oxford economic Papers, 18:1, 45-57.
Talan, B. (2000), The terms of trade, productivity growth and the current account, Journal of Monetary Economics, 45, 587-611.
Taylor, L. (1983), Structuralist Macroeconomics, New York: Basic Books.
Viner, J.(1924), Cnanda’s balance of international indebtedness 1900-1913, Cambridge, Mass
描述 碩士
國立政治大學
財政研究所
90255025
91
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0090255025
資料類型 thesis
dc.contributor.advisor 翁永和zh_TW
dc.contributor.author (Authors) 林佑龍zh_TW
dc.contributor.author (Authors) Yo-long Linen_US
dc.creator (作者) 林佑龍zh_TW
dc.creator (作者) Yo-long Linen_US
dc.date (日期) 2002en_US
dc.date.accessioned 18-Sep-2009 17:35:58 (UTC+8)-
dc.date.available 18-Sep-2009 17:35:58 (UTC+8)-
dc.date.issued (上傳時間) 18-Sep-2009 17:35:58 (UTC+8)-
dc.identifier (Other Identifiers) G0090255025en_US
dc.identifier.uri (URI) https://nccur.lib.nccu.edu.tw/handle/140.119/36213-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 財政研究所zh_TW
dc.description (描述) 90255025zh_TW
dc.description (描述) 91zh_TW
dc.description.abstract (摘要) 論文摘要
     
     本論文由兩篇獨立的文章所構成,第一篇文章從個體角度出發,探討臺灣產業出口與成長之間的關聯性;第二篇文章則以總體的角度,分析世界各主要國家經濟成長的型態(包括出口偏向型的成長與進口偏向型的成長)對該國貿易條件的影響。
     
     長久以來,出口與產出之間的相互影響向來是廣受重視的議題。在國際經濟領域中,多數研究均專注於兩者間理論之建立,關於實證方面的探討並不多見,而個體角度來探討產業出口與成長之間的文獻更是稀少,以臺灣產業出口與成長之間因果關係為對象的研究則付之闕如。臺灣的經濟成就向來被歸功於出口擴張政策的成功,但出口導向的影響範圍究竟擴及多少產業的效果仍不明朗,因此第一篇文章關心的重點,在於探討對我國的產業而言出口擴張是否是個有效的政策?而究竟出口導向和產出導向哪一種政策的效果較好,也是本文所關心的目標。
     
     第二篇文章討論成長型態對貿易條件的影響。由於出口偏向型的成長會使本國願意以更多出口財來換取進口財,將會使本國出口財的國際價格相對下降,進而惡化本國的貿易條件,改善外國的貿易條件;反之,在進口偏向型成長的情況下,出口財的減少則會使本國貿易條件改善,外國貿易條件惡化。是以一國的經濟成長對該國貿易條件的影響,將取決於其生產可能曲線外移的方向。本文嘗試以八個工業化國家和七個開發中國家為對象,在加入成長偏向政策、物價、匯率、所得移轉、對外投資、貿易平衡、貿易開放程度等因素的考慮下,來驗證成長型態對其貿易條件的影響效果是否符合理論的規範。
zh_TW
dc.description.abstract (摘要) The purpose of first paper is to investigate the empirical relationships between exports and domestic production in 22 Taiwan main industries, using time series data for the period 1982:01~2002:07. Different from the previous literatures, this paper examines the relations by taking into account industrial data because we are wondering whether the causal links between exports and outputs still sustain in individual industry, and either export promotion or production-led policies are more effective for industrial production. Hence, three related topics will be discussed: to recognize the incidence of export promotion policy in Taiwan industries, to explore either export promotion or production-led policies is more effective for industrial production, and to detect whether all exportation-oriented industries would simultaneously support export promotion hypothesis. The findings of the econometric analysis employing Granger causality test do not have enough evidence to support that the proportion of exports to production is a necessary condition for generating export promotion. Nevertheless, this study suggests that production makes great influence on exports in Taiwan individual industry but the effects of exports on production is not so prevailing as we thought before. Therefore, the influence of production to exports in Taiwan industry is more prevalent than that of exports to outputs.
     
     The purpose of the second paper is to examine the impacts of growth types on terms of trade by making a comparison between 8 industrial countries and 7 developing countries (involving 3 NICs countries). This paper finds that the theories seems not be supported because evidence shows the occurrence of positive effects of export-biased growth to terms of trade are more prevalent than negative ones. Moreover, the empirical results of negative incidence shown by import-biased growth come into conflict with theories, and the impacts of import-biased growth on terms of trade are indefinite. In addition, most results reveals that export-biased growth and import-biased growth policies in industrial countries are invalid, and most results in NICs and developing countries are ambiguous while export-biased growth or import-biased growth policies are adopted. Furthermore, the empirical results reveal that income transferring have great or opposite influence in NICs and developing countries, and trade openness is advantageous to NICs and developing countries but is disadvantageous to developed ones.
en_US
dc.description.tableofcontents Contents
     
     Chapter 1 Exports and Growth in Taiwan Industries:
     a Causality Analysis Approach
     
     Abstract
     
     1. Introduction
     
     2. Econometric Framework
     
     3. Properties of the Data
     
     4. Empirical Results
     
     5. Summary and Conclusions
     
     Reference
     
     Appendix
     
     
     Chapter 2 The Effects of Growth Types on Terms of Trade
     
     Abstract
     
     1. Introduction
     
     2. The Definition of Types of Growth
     
     3. The Estimation Model and Data
     
     4. Empirical Results
     
     5. Concluding Remarks
      References
      Appendix
zh_TW
dc.language.iso en_US-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0090255025en_US
dc.subject (關鍵詞) Export-biased growthen_US
dc.subject (關鍵詞) Import-biased growthen_US
dc.subject (關鍵詞) Terms of tradeen_US
dc.subject (關鍵詞) Export promotion hypothesisen_US
dc.subject (關鍵詞) Production-led hypothesisen_US
dc.subject (關鍵詞) Export-reducing production hypothesisen_US
dc.subject (關鍵詞) Production-reducing export hypothesisen_US
dc.subject (關鍵詞) Granger causalityen_US
dc.title (題名) Exports, Terms of Trade, and Growthzh_TW
dc.type (資料類型) thesisen
dc.relation.reference (參考文獻) References of Chapter 1:zh_TW
dc.relation.reference (參考文獻) Akaike, H. (1973), Information theory and an extension of the maximum likelihood principle, In B. Petrov and F. Csaki (eds) Second International Symposium on Information Theory, Budapest: Akademiai Kiado, 267-82.zh_TW
dc.relation.reference (參考文獻) Bahmani-Oskooee, M., H. Mohtadi, and G. Shabsigh (1991) Exports, growth and causality in LDCs: a re-examination, Journal of Development Economics, 36, 405-15.zh_TW
dc.relation.reference (參考文獻) Balassa, B. (1978), Exports and economic growth: further evidence, Journal of Development Economics, 5, 181-89.zh_TW
dc.relation.reference (參考文獻) Bhagwati, J. (1978), Foreign exchange regimes and economic development: anatomy and consequences of exchange control regimes, Ballinger Cambridge.zh_TW
dc.relation.reference (參考文獻) Chao, W. and J. Buongiorno (2002), Exports and growth: a causality analysis for the pulp and paper industries based on international panel data, Applied Economics, 34, 1-13.zh_TW
dc.relation.reference (參考文獻) Chen, T. J. and Y. H. Ku (1998), Import substitution and export promotion: substitutes or complements, Taiwan Economic Review, 26:3, 293-317.zh_TW
dc.relation.reference (參考文獻) Chenery, H. B.(1960), Patterns of industrial growth, American Economic Review, 50, 624-654.zh_TW
dc.relation.reference (參考文獻) Chow, P. (1987), Causality between exports growth and industrial development, Journal of Development Economics, 26, 55-63.zh_TW
dc.relation.reference (參考文獻) Dickey, D. and W. Fuller (1979), Distribution of the estimators for autoregressive time series with a unit root, Journal of the American Statistical Assoc., 74, 427-31.zh_TW
dc.relation.reference (參考文獻) Darrat, A. (1986), Trade and development: the Asian experience, Cato Journal, 6, 695-699.zh_TW
dc.relation.reference (參考文獻) Engle, R. F. and C.W. J. Granger (1987), Co-integration and error correction: representation, estimation and testing, Econometrica, 55, 251-276.zh_TW
dc.relation.reference (參考文獻) Fang, W., T. Chang and K. Wang (2000), Exports, imports, and economic growth: evidence from Taiwan and the U.S., Journal of Feng Chia University, 38, 11-28.zh_TW
dc.relation.reference (參考文獻) Feder, G. (1983), On exports and economic growth, Journal of Development Economics, 12, 59-73.zh_TW
dc.relation.reference (參考文獻) Grabowski, R., S. Sharma and D. Dhakal (1990), Exports and Japanese economic development, Economic Letters, 32, 127-32.zh_TW
dc.relation.reference (參考文獻) Granger, C.W. J. (1969), Investigating causal relations by econometric models and cross spectral methods, Econometrica, 37, 424-38.zh_TW
dc.relation.reference (參考文獻) Granger, C.W. J. and P. Newbold (1974), Spuring regression in econometrics, Journal of Econometrics, 2, 111-120.zh_TW
dc.relation.reference (參考文獻) Granger, C.W. J. (1988), Some recent developments in a concept of causality, Journal of Econometrics, 39, 199-211.zh_TW
dc.relation.reference (參考文獻) Heitger, B. (1987), Import Protection and Export Performance: their impact on economic growth, Weltwirtschaftliches Archiv, 260, 1-19.zh_TW
dc.relation.reference (參考文獻) Johansen, S. (1988), Statistical analysis of cointegration vectors, ” Journal of Economic Dynamics and Control, 12, 231-254.zh_TW
dc.relation.reference (參考文獻) Johansen, S. (1991), Estimation and hypothesis testing of cointegration vectors in Gaussian vector autoregressive models, Econometrica, 59, 1551-1580.zh_TW
dc.relation.reference (參考文獻) Jung, W. and P. Marshall (1985), Exports, growth and causality in developing countries, Journal of Development Economics, 18, 1-12.zh_TW
dc.relation.reference (參考文獻) Kavoussi, R. (1984), Export expansion and economic growth: further empirical evidence, Journal of Development Economics, 14, 241-50.zh_TW
dc.relation.reference (參考文獻) Krueger, A. (1997), Trade policy and economic development: how we learn, American Economic Review, 87, 1-22.zh_TW
dc.relation.reference (參考文獻) Kunst, R. and D. Martin (1989), On exports and productivity: a causal analysis, Review of Economics and Statistics, 71, 699-703.zh_TW
dc.relation.reference (參考文獻) Lucas, R. (1988), On the mechanics of economic development, Journal of Monetary Economics, 21, 3-42.zh_TW
dc.relation.reference (參考文獻) MacKinnon, J. (1991), Critical values for cointegration tests in long-run economic relationships—readings in cointegration, edited by Engle and Granger, Oxford University Press.zh_TW
dc.relation.reference (參考文獻) Martin, D. (1992), Is the export-led growth hypothesis valid for industrialized countries? The Review of Economics and Statistics, 74, 678-88zh_TW
dc.relation.reference (參考文獻) Michaely, M. (1977), Exports and growth: an empirical investigation, Journal of Development Economics, 4, 49-53.zh_TW
dc.relation.reference (參考文獻) Nelson, C. and C. Plosser (1982), Trends and random walks in macroeconomic time series, Journal of Monetary Economics, 10, 139-162.zh_TW
dc.relation.reference (參考文獻) Osterwald-Lenum, M. (1992), A note with fractiles of the asymptotic distribution of the maximum likelihood cointegration rank test statistics: four cases, Oxford Bulletin of Economics and Statistics, 54, 461-472.zh_TW
dc.relation.reference (參考文獻) Phillips, P. (1987), Time series regression with a unit root, Econometrica, 55, 277-301.zh_TW
dc.relation.reference (參考文獻) Phillips, P. and P. Perron (1988), Testing for a unit root in time series regression, Biometrika, 75, 335-46.zh_TW
dc.relation.reference (參考文獻) Said, S. and D. Dickey (1984), Testing for unit roots in autoregressive moving average models of unknown order, Biometrika, 71, 599-607.zh_TW
dc.relation.reference (參考文獻) Sharma, S. and D. Dhakal (1994), Causal analyses between exports and economic growth in developing countries, Applied Economics, 26, 1145-57.zh_TW
dc.relation.reference (參考文獻) Sims, C. (1972), Money, income, and causality, The American Economic Review, 62, 540-42.zh_TW
dc.relation.reference (參考文獻) Tyler, W. (1981), Growth and export expansion in development countries: some empirical evidence, Journal of Development Economics, 9, 121-30.zh_TW
dc.relation.reference (參考文獻) Voivodas, C. (1973), Export, foreign capital inflow and economic growth, Journal of International Economics, 3, 337-49.zh_TW
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