Resumen de Export-led-growth hypothesis revisited. A balance of payments approach for Argentina, Brazil, Chile and Mexico
David Matesanz Gómez, Guadalupe Fugarolas Álvarez-Ude
This study re-examines the export-led growth hypothesis for four Latin American countries in the spirit of the balance of payments constraint approach and, in particular, dealing with the Thirlwall and Hussain model. Using the Toda and Yamamoto (1995) and Dolado and Lütkepohl (1996) methodology for testing for Granger non-causality in vector autoregressive models that involve variables that are integrated of an arbitrary order and that are possibly cointegrated, the estimation results support the export-led growth hypothesis in Argentina, Brazil and Chile while an import led export phenomenon is addressed for the mexican case
