Thirlwall's Law and the Specification of Export and Import Functions

30 Pages Posted: 3 Apr 2018

See all articles by João P. Romero

João P. Romero

Federal University of Minas Gerais (UFMG) - Centre de Desenvolvimento e Planejamento Regional (CEDEPLAR)

John McCombie

University of Cambridge - Department of Land Economy

Date Written: May 2018

Abstract

The contribution of this paper is threefold. First, it proposes general specifications for export and import functions that encompass the contributions of both Kaldorian and Schumpeterian literatures on the determinants of trade performance. Second, the paper provides evidence of the impact of nonprice competitiveness, measured by the growth of relative economic efficiency on export and import growth in different technological sectors. Third, it shows that the magnitude of income elasticities of demand is partially determined by relative economic efficiency.

Suggested Citation

Romero, João P. and McCombie, John S. L., Thirlwall's Law and the Specification of Export and Import Functions (May 2018). Metroeconomica, Vol. 69, Issue 2, pp. 366-395, 2018, Available at SSRN: https://ssrn.com/abstract=3154828 or http://dx.doi.org/10.1111/meca.12185

João P. Romero (Contact Author)

Federal University of Minas Gerais (UFMG) - Centre de Desenvolvimento e Planejamento Regional (CEDEPLAR) ( email )

Av. Pres. Antônio Carlos
Belo Horizonte, 6627
Brazil

John S. L. McCombie

University of Cambridge - Department of Land Economy ( email )

19 Silver Street
Cambridge, CB3 9EP
United Kingdom

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