A Review of Export Led Growth and Constraints in India with Special Reference to Manufacturing Sector
| Main Author: | Agarwal, Himanshu |
|---|---|
| Format: | info Proceeding eJournal |
| Terbitan: |
, 2019
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| Subjects: | |
| Online Access: |
https://zenodo.org/record/3458816 |
Daftar Isi:
- Economists across the board have agreed with the opinion that the process of economic growth is an extremely complex phenomenon. It depends on many variables, such as, capital accumulation (both physical and human), international trade, price condition, political situation, income distribution, and even more on geographical factors. Export-led growth postulates that export expansion is one of the prime determinants of economic growth. The overall growth of countries can be generated not only by increasing the amounts of labour and capital within the economy as the classical economists postulates, but also by expanding exports to wider markets. According to the proponents of ELG, exports can perform the function of an 'engine of growth'. The association between exports and economic growth is often attributed to the positive externalities for the domestic economy arising from participation in world markets, for instance, from the reallocation of existing resources, economies of scale and various labour-specialisation effects. The Export-Led Growth is an interesting subject of research in the field of applied economics. This paper investigates the links between exports and output growth in the review framework of the Indian economy. Furthermore, the findings suggest a strong and consistent causation from output growth to export performance in the long-run.