Resumen de Structural change in exports and economic growth: cointegration and causality analysis for spain (1961-2000)

Jacint Balaguer, Manuel Cantavella Jordá

• In this paper the Spanish export-led growth hypothesis is re-examined from the trade liberalisation process initiated four decades ago. For this purpose it is taken under consideration both the export expansion and the progression from "traditional" exports to manufactured and semi-manufactured exports. A new evidence is reported for the above period. Alongside a feedback between aggregate exports and real output, it has been proved that the structural transformation in export composition has also become a key factor for Spain?s economic development.