International Advances in Economic Research

, Volume 2, Issue 4, pp 368–373 | Cite as

Structural transformation and growth of merchandise trade of low-income economies 1980–1992

  • Wali I. Mondal
Articles
  • 29 Downloads

Abstract

The Heckscher-Ohlin Vanek theorem, which predicts a direct relationship between exports and greater supply of factors used to produce those exports, performs only 50 percent of the time. However, there is no alternative theory which explains such a relationship. This paper analyzes the growth of merchandise trade of low-income countries, with particular reference to the growth of exports and net exports as these countries move from the predominantly agricultural goods producing era to the manufactured goods producing era. Results suggest, among other things, that industrial structure and governmental policies play an important role in the growth of merchandise trade.

Keywords

Economic Growth Direct Relationship International Economic Structural Transformation Alternative Theory 

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Copyright information

© International Atlantic Economic Society 1996

Authors and Affiliations

  • Wali I. Mondal
    • 1
  1. 1.Henderson State UniversityU.S.A.

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