Title: Revisiting the manufacturing-led growth hypothesis: A quantile regression approach
Authors: George Voucharas - University of Macedonia (Greece) [presenting]
Theodore Panagiotidis - University of Macedonia (Greece)
Abstract: The export-Led growth hypothesis is revisited by employing a panel set of 120 countries covering annual data over the period 1980-2017. Total exports are disaggregated into primary and manufacturing exports, and control variables are taken into account. The assumption of symmetry is relaxed and a panel quantile regression framework that can quantify the effects of manufacturing exports on relatively poor and relatively rich countries is established. The entire conditional distribution of income is modelled, taking into consideration the unobserved heterogeneity and endogeneity concerns. Although the effect of total exports on growth does not vary across quantiles of income, poor and developing countries benefit more from manufacturing exports than the rich and developed ones.