EXPORTS AND ECONOMIC GROWTH; A Comparison between Indonesia and Singapore

Yudo Swasono(1*), Endang Sulistyaningsih(2)

(1) University of Illinois, Urbana, USA
(2) The Ministry of Manpower
(*) Corresponding Author


Much empirical evidence suggest that countries with high growth export rates
tend to enjoy a high economic growth. Increasing the volume of exports directly
increases national income through a national income equation. A recent theory
suggests that exports increase national income indirectly through spill over effects
that improve income and reduction costs.  This paper attempts to investigate the role of exports in explaining the growth of the economy, both directly and indirectly, in two countries Singapore and Indonesia, following the economics model developed by Feder, 1982, based on the framework anlysis developed by previous authors in these fields (Michalopoulos and Jay, 1973 and Balasa, 1978). The paper starts by presenting a short description of the economic background of Indonesia and Singapore (in section 2). Section 3 discusses the anlytical framework and economerics models used in this investigation, and section 4 presents the empirical analysis and comparison of the results in this two cases.

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Asian Development Bank, Key Indicators of Developing Member Countries of ADB, Vol. XVIII, July 1987. Balasa, B, "Export and Economic Growth: Further Evidence," Journal of Development Economics, Vo. 5, No. 2, June 1978, pp 181-189. Bruno, M, "Estimation of Factor Contribution to Growth Under Structural Disequilibrium", International Economic Review, February 1968. Central Bureau of Statistics, The Indonesian Economic Indicators, Jakarta, 1988. Feder, "On Export and Economic Growth" , World Bank Staff Paper, No. 508, Feb.1982. Heller, P and Richard C.P., "Export and Growth : Empirical Reinvestigation", Journal of Development Economics, Vo. 5, No. 2, June 1978, pp 191-193. Keesing, D.B, "Outward Looking Policies and Economics Development" Economic Journal, Vo. 24, No. 2, Jan 1976, pp 339-353. Michaely, M "Export and Growth : An Empirical Investigation “Journal” of Development Economics, Vo. 4, No. 1 March 1977, pp 49-53. Robinson, S. "Sources of Growth in Less Developed Countries" Quarterly Journal of Economics, Vol. 85, No. 3, August 1971, pp, 391-408.

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