خلاصة:
Today export diversification has become one of the most important economic objectives of development strategies in the developing countries. For various reasons, such as preventing instability in export prices of primary products in global markets, reducing fluctuations in exchanges of them compared with industrial goods, producing dynamic benefits resulted from exporting various goods and increasing productivity of production factors may increase the rate of economic growth. The main purpose of this study is to investigate the role of export diversification in the economic growth of selected developing countries over the period of 2000-2010. Accordingly, the relationship among GDP, physical capital stock, labor force, and export diversification index was studied using the generalized method of moments (GMM). The results showed that reducing export specialization and increasing export diversification have significantly positive effect on the rate of economic growth of these countries.
ملخص الجهاز:
"For various reasons, such as preventing instability in export prices of primary products in global markets, reducing fluctuations in exchanges of them compared with industrial goods, producing dynamic benefits resulted from exporting various goods and increasing productivity of production factors may increase the rate of economic growth.
The results showed that reducing export specialization and increasing export diversification have significantly positive effect on the rate of economic growth of these countries.
Using pooled data method and GMM model, they showed that direct foreign investment and export diversification have a positive and significant effect on economic growth of this group of countries.
Furthermore, the findings resulted from AEG model showed that in South Africa export diversification has a positive and very significant effect on economic growth of these countries during the period.
Therefore, regarding the findings, it may be suggested that the effect of export diversification on economic growth of the countries in question is positive and increasing export diversification and export development based on the relative advantages and reducing the portion of primary products in export portfolio may lead to economic growth increase rate of through increasing export diversification and decreasing the fluctuations of export incomes.
In this research, the relationship among GDP, physical capital stock, labor force, and export diversification index in 23 developing countries was studied using the GMM method.
In fact, increasing export diversification and export development based on the relative advantages and reducing the portion of primary products in export portfolio as well as decreasing the fluctuations of export incomes will lead to increase in the rate of economic growth in the long term."