Does specialization matter for growth?

Bent Dalum, Keld Laursen, Bart Verspagen

    Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

    Resumé

    The question concerning the extent to which the growth performance of an economy is determined by its external relations is a controversial one. There are several approaches which stress the interaction between international factors and domestic growth performance. In the Keynesian tradition, Kaldor and Thirlwall have argued that exports and trade performance are the main determinants of growth. This paper takes different elements from these and other theoretical approaches, and combines them into a framework that stresses the importance of specialization for economic growth. The paper applies a data set on growth and trade in 11 manufacturing sectors, for the period 1965-1988, for the OECD area. The main novelty in the database is the assignment of 75 products in the trade data to the 11 industrial sectors. The relationship between growth and specialization has been tested by running a regression with the sectoral growth of value added as the dependent variable, and several variables, including some measuring specialization as well as other factors, as the independent variables. The regression results presented seem to indicate that specialization does indeed matter for economic growth. However, this impact seems to be gradually wearing off during the 1980s, as is the case for other factors included in the regression analysis.
    OriginalsprogEngelsk
    TidsskriftIndustrial and Corporate Change
    Vol/bind8
    Udgave nummer2
    Sider (fra-til)267-288
    Antal sider22
    ISSN0960-6491
    DOI
    StatusUdgivet - 1999

    Emneord

    • International arbejdsdeling
    • Økonomisk vækst

    Citer dette

    Dalum, Bent ; Laursen, Keld ; Verspagen, Bart. / Does specialization matter for growth?. I: Industrial and Corporate Change. 1999 ; Bind 8, Nr. 2. s. 267-288.
    @article{78dfa540c02411db9769000ea68e967b,
    title = "Does specialization matter for growth?",
    abstract = "The question concerning the extent to which the growth performance of an economy is determined by its external relations is a controversial one. There are several approaches which stress the interaction between international factors and domestic growth performance. In the Keynesian tradition, Kaldor and Thirlwall have argued that exports and trade performance are the main determinants of growth. This paper takes different elements from these and other theoretical approaches, and combines them into a framework that stresses the importance of specialization for economic growth. The paper applies a data set on growth and trade in 11 manufacturing sectors, for the period 1965-1988, for the OECD area. The main novelty in the database is the assignment of 75 products in the trade data to the 11 industrial sectors. The relationship between growth and specialization has been tested by running a regression with the sectoral growth of value added as the dependent variable, and several variables, including some measuring specialization as well as other factors, as the independent variables. The regression results presented seem to indicate that specialization does indeed matter for economic growth. However, this impact seems to be gradually wearing off during the 1980s, as is the case for other factors included in the regression analysis.",
    keywords = "International arbejdsdeling, {\O}konomisk v{\ae}kst",
    author = "Bent Dalum and Keld Laursen and Bart Verspagen",
    year = "1999",
    doi = "10.1093/icc/8.2.267",
    language = "English",
    volume = "8",
    pages = "267--288",
    journal = "Industrial and Corporate Change",
    issn = "0960-6491",
    publisher = "Oxford University Press",
    number = "2",

    }

    Does specialization matter for growth? / Dalum, Bent; Laursen, Keld; Verspagen, Bart.

    I: Industrial and Corporate Change, Bind 8, Nr. 2, 1999, s. 267-288.

    Publikation: Bidrag til tidsskriftTidsskriftartikelForskningpeer review

    TY - JOUR

    T1 - Does specialization matter for growth?

    AU - Dalum, Bent

    AU - Laursen, Keld

    AU - Verspagen, Bart

    PY - 1999

    Y1 - 1999

    N2 - The question concerning the extent to which the growth performance of an economy is determined by its external relations is a controversial one. There are several approaches which stress the interaction between international factors and domestic growth performance. In the Keynesian tradition, Kaldor and Thirlwall have argued that exports and trade performance are the main determinants of growth. This paper takes different elements from these and other theoretical approaches, and combines them into a framework that stresses the importance of specialization for economic growth. The paper applies a data set on growth and trade in 11 manufacturing sectors, for the period 1965-1988, for the OECD area. The main novelty in the database is the assignment of 75 products in the trade data to the 11 industrial sectors. The relationship between growth and specialization has been tested by running a regression with the sectoral growth of value added as the dependent variable, and several variables, including some measuring specialization as well as other factors, as the independent variables. The regression results presented seem to indicate that specialization does indeed matter for economic growth. However, this impact seems to be gradually wearing off during the 1980s, as is the case for other factors included in the regression analysis.

    AB - The question concerning the extent to which the growth performance of an economy is determined by its external relations is a controversial one. There are several approaches which stress the interaction between international factors and domestic growth performance. In the Keynesian tradition, Kaldor and Thirlwall have argued that exports and trade performance are the main determinants of growth. This paper takes different elements from these and other theoretical approaches, and combines them into a framework that stresses the importance of specialization for economic growth. The paper applies a data set on growth and trade in 11 manufacturing sectors, for the period 1965-1988, for the OECD area. The main novelty in the database is the assignment of 75 products in the trade data to the 11 industrial sectors. The relationship between growth and specialization has been tested by running a regression with the sectoral growth of value added as the dependent variable, and several variables, including some measuring specialization as well as other factors, as the independent variables. The regression results presented seem to indicate that specialization does indeed matter for economic growth. However, this impact seems to be gradually wearing off during the 1980s, as is the case for other factors included in the regression analysis.

    KW - International arbejdsdeling

    KW - Økonomisk vækst

    U2 - 10.1093/icc/8.2.267

    DO - 10.1093/icc/8.2.267

    M3 - Journal article

    VL - 8

    SP - 267

    EP - 288

    JO - Industrial and Corporate Change

    JF - Industrial and Corporate Change

    SN - 0960-6491

    IS - 2

    ER -