South-South trade and South-North trade: which contributes more to development in Asia and South America? Insights from estimating income elasticities of import demand

The experience of the global economic crisis led developing countries to intensify the diversification of sources of growth, seeking alternative models of economic development. The expansion of South-South trade assumed greater significance in the context of this search. Yet how promising a strategy...

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Autor principal:	Bernhardt, Thomas
Formato:	Texto
Lenguaje:	English
Publicado:	2016
Materias:	COMERCIO SUR-SUR DESARROLLO ECONOMICO INGRESOS SOUTH-SOUTH TRADE ECONOMIC DEVELOPMENT INCOME
Acceso en línea:	http://hdl.handle.net/11362/40426
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spelling	oai-11362-404262020-03-06T16:50:27Z South-South trade and South-North trade: which contributes more to development in Asia and South America? Insights from estimating income elasticities of import demand Bernhardt, Thomas COMERCIO SUR-SUR DESARROLLO ECONOMICO INGRESOS SOUTH-SOUTH TRADE ECONOMIC DEVELOPMENT INCOME The experience of the global economic crisis led developing countries to intensify the diversification of sources of growth, seeking alternative models of economic development. The expansion of South-South trade assumed greater significance in the context of this search. Yet how promising a strategy is this? In attempting to answer this question, this paper documents the evolution of South-South trade and puts forward some theoretical considerations. It then undertakes an econometric analysis to estimate the income elasticities of import demand in bilateral trade relationships among developing Asian and South American countries and two key Northern markets. On applying an ARDL model, the analysis yields mixed results in terms of whether South-South trade presents higher income elasticities than South-North trade. Still, the findings show that South-South trade can be an alternative source of growth, especially if South-North income and import growth differentials persist. 2016-08-09T14:36:37Z 2016-08-09T14:36:37Z 2016-04 Texto Sección o Parte de un Documento http://hdl.handle.net/11362/40426 LC/G.2676-P 7 en CEPAL Review CEPAL Review 118 .pdf application/pdf AMERICA DEL SUR ASIA ASIA SOUTH AMERICA
institution	Cepal
collection	Cepal
language	English
topic	COMERCIO SUR-SUR DESARROLLO ECONOMICO INGRESOS SOUTH-SOUTH TRADE ECONOMIC DEVELOPMENT INCOME
spellingShingle	COMERCIO SUR-SUR DESARROLLO ECONOMICO INGRESOS SOUTH-SOUTH TRADE ECONOMIC DEVELOPMENT INCOME Bernhardt, Thomas South-South trade and South-North trade: which contributes more to development in Asia and South America? Insights from estimating income elasticities of import demand
description	The experience of the global economic crisis led developing countries to intensify the diversification of sources of growth, seeking alternative models of economic development. The expansion of South-South trade assumed greater significance in the context of this search. Yet how promising a strategy is this? In attempting to answer this question, this paper documents the evolution of South-South trade and puts forward some theoretical considerations. It then undertakes an econometric analysis to estimate the income elasticities of import demand in bilateral trade relationships among developing Asian and South American countries and two key Northern markets. On applying an ARDL model, the analysis yields mixed results in terms of whether South-South trade presents higher income elasticities than South-North trade. Still, the findings show that South-South trade can be an alternative source of growth, especially if South-North income and import growth differentials persist.
format	Texto
author	Bernhardt, Thomas
author_facet	Bernhardt, Thomas
author_sort	Bernhardt, Thomas
title	South-South trade and South-North trade: which contributes more to development in Asia and South America? Insights from estimating income elasticities of import demand
title_short	South-South trade and South-North trade: which contributes more to development in Asia and South America? Insights from estimating income elasticities of import demand
title_full	South-South trade and South-North trade: which contributes more to development in Asia and South America? Insights from estimating income elasticities of import demand
title_fullStr	South-South trade and South-North trade: which contributes more to development in Asia and South America? Insights from estimating income elasticities of import demand
title_full_unstemmed	South-South trade and South-North trade: which contributes more to development in Asia and South America? Insights from estimating income elasticities of import demand
title_sort	south-south trade and south-north trade: which contributes more to development in asia and south america? insights from estimating income elasticities of import demand
publishDate	2016
url	http://hdl.handle.net/11362/40426
work_keys_str_mv	AT bernhardtthomas southsouthtradeandsouthnorthtradewhichcontributesmoretodevelopmentinasiaandsouthamericainsightsfromestimatingincomeelasticitiesofimportdemand
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South-South trade and South-North trade: which contributes more to development in Asia and South America? Insights from estimating income elasticities of import demand

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