[go: up one dir, main page]
More Web Proxy on the site http://driver.im/
IDEAS home Printed from https://ideas.repec.org/a/ags/jrapmc/132457.html
   My bibliography  Save this article

A Comparison of Regional Export Enhancement and Import Substitution Economic Development Strategies

Author

Listed:
  • Cooke, Stephen C.
  • Watson, Philip
Abstract
Absent from the economic development literature is a manageable and quantitative analysis that compares regional export enhancement and import substitution strategies. Single sector Leontief and Keynesian models are developed to show how these development strate-gies relate to one another. Both strategies have identical direct effects on an economy, but import substitution increases the indirect effects through additional endogenous purchases, which then increase the output and income multipliers. Assuming identical comparative advantage of both strategies, regional import substitution is found to be at least as good an economic development strategy as regional export enhancement.

Suggested Citation

  • Cooke, Stephen C. & Watson, Philip, 2011. "A Comparison of Regional Export Enhancement and Import Substitution Economic Development Strategies," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 41(1), pages 1-15.
    • Handle: RePEc:ags:jrapmc:132457
    DOI: 10.22004/ag.econ.132457
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/132457/files/11-1-1.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.132457?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Waters, Edward C. & Weber, Bruce A. & Holland, David W., 1999. "The Role Of Agriculture In Oregon'S Economic Base: Findings From A Social Accounting Matrix," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 24(1), pages 1-15, July.
    2. Hayami, The late Yujiro & Godo, Yoshihisa, 2005. "Development Economics: From the Poverty to the Wealth of Nations," OUP Catalogue, Oxford University Press, edition 3, number 9780199272716.
    3. Everett E. Hagen, 1958. "An Economic Justification of Protectionism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 72(4), pages 496-514.
    4. Charles M. Tiebout, 1956. "Exports and Regional Economic Growth: Rejoinder," Journal of Political Economy, University of Chicago Press, vol. 64(2), pages 169-169.
    5. Bruton, H.J., 1998. "A Reconsideration of Import Substitution," Center for Development Economics 156, Department of Economics, Williams College.
    6. Maureen Kilkenny & Mark D. Partridge, 2009. "Export Sectors and Rural Development," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(4), pages 910-929.
    7. Charles M. Tiebout, 1956. "Exports and Regional Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 64(2), pages 160-160.
    8. Holland, David W. & Martin, R.P., 1993. "Output Change In U.S. Agriculture: An Input-Output Analysis," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 25(2), pages 1-13, December.
    9. Chang Seung & Edward Waters, 2006. "The role of the Alaska seafood industry: a social accounting matrix (SAM) model approach to economic base analysis," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 40(2), pages 335-350, June.
    10. Pyatt, F Graham & Round, Jeffery I, 1979. "Accounting and Fixed Price Multipliers in a Social Accounting Matrix Framework," Economic Journal, Royal Economic Society, vol. 89(356), pages 850-873, December.
    11. Henry J. Bruton, 1998. "A Reconsideration of Import Substitution," Journal of Economic Literature, American Economic Association, vol. 36(2), pages 903-936, June.
    12. Sachs, Jeffrey D. & Warner, Andrew M., 2001. "The curse of natural resources," European Economic Review, Elsevier, vol. 45(4-6), pages 827-838, May.
    13. Douglass C. North, 1955. "Location Theory and Regional Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 63(3), pages 243-243.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kholmov N.V. & Kholmova A.D. & Zhetpisov T.M. & Salamatina A.A., 2020. "Import Substitution As An Instrument Of Proactive Industrial Policy," Annals of marketing-mba, Department of Marketing, Marketing MBA (RSconsult), vol. 2, May.
    2. Yurdagül Meral, 2019. "High technology export and high technology export impact on growth," International Journal of Business Ecosystem & Strategy (2687-2293), Bussecon International Academy, vol. 1(3), pages 32-38, July.
    3. Watson, Philip & Cooke, Stephen & Kay, David & Alward, Greg, 2015. "A Method for Improving Economic Contribution Studies for Regional Analysis," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 45(1).
    4. Jason Winfree & Philip Watson, 2021. "Buy Local and Social Interaction," American Journal of Agricultural Economics, John Wiley & Sons, vol. 103(4), pages 1454-1477, August.
    5. Watson, Philip & Cooke, Stephen & Kay, David & Alward, Greg & Morales, Alfonso, 2017. "A Method for Evaluating the Economic Contribution of a Local Food System," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 42(2), May.
    6. Tongzhe Li & Kent D. Messer & Alisher Mamadzhanov & Jill J. McCluskey, 2020. "Preferences for local food: Tourists versus local residents," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 68(4), pages 429-444, December.
    7. Steven C. Deller & Tessa Conroy & Philip Watson, 2017. "Women business owners: a source of stability during the great recession?," Applied Economics, Taylor & Francis Journals, vol. 49(56), pages 5686-5697, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jens Abildtrup & Virginie Piguet & Bertrand Schmitt, 2011. "The impact of agro-food industry on employment and population changes: The case of Denmark and France'," ERSA conference papers ersa10p1622, European Regional Science Association.
    2. Watson, Brett & Reimer, Matthew N. & Guettabi, Mouhcine & Haynie, Alan, 2021. "Commercial fisheries & local economies," Journal of Environmental Economics and Management, Elsevier, vol. 106(C).
    3. Njoya, Eric Tchouamou & Nikitas, Alexandros, 2020. "The role of air transport in employment creation and inclusive growth in the Global South: The case of South Africa," Journal of Transport Geography, Elsevier, vol. 85(C).
    4. Ted Rutland & Sean O'Hagan, 2007. "The Growing Localness of the Canadian City, or, On the Continued (Ir)relevance of Economic Base Theory," Local Economy, London South Bank University, vol. 22(2), pages 163-185, May.
    5. Ann Markusen (ed.), 2007. "Reining in the Competition for Capital," Books from Upjohn Press, W.E. Upjohn Institute for Employment Research, number ricc, December.
    6. Christofakis Manolis & Gaki Eleni & Lagos Dimitrios, 2019. "The impact of economic crisis on regional disparities and the allocation of economic branches in Greek regions," Bulletin of Geography. Socio-economic Series, Sciendo, vol. 44(44), pages 7-21, June.
    7. Nesse, Katherine, 2014. "Expanding the Economic Base Model to Include Nonwage Income," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 44(2).
    8. Gavin Bridge, 1999. "Harnessing the bonanza: economic liberalization and capacity building in the mineral sector," Natural Resources Forum, Blackwell Publishing, vol. 23(1), pages 43-55, February.
    9. Thomas R. Harris & J. Scott Shonkwiler & George E. Ebai, 1999. "Dynamic Nonmetropolitan Export-Base Modeling," The Review of Regional Studies, Southern Regional Science Association, vol. 29(2), pages 115-138, Fall.
    10. Sébastien Breau & David L. Rigby, 2006. "Is There Really an Export Wage Premium? A Case Study of Los Angeles Using Matched Employee-Employer Data," International Regional Science Review, , vol. 29(3), pages 297-310, July.
    11. Tuo Lin & Kevin Stolarick & Rong Sheng, 2019. "Bridging the Gap: Integrated Occupational and Industrial Approach to Understand the Regional Economic Advantage," Sustainability, MDPI, vol. 11(15), pages 1-17, August.
    12. Ann Markusen, 2015. "Problem-driven Research in Regional Science," International Regional Science Review, , vol. 38(1), pages 3-29, January.
    13. Neil Lee & Andrés Rodríguez-Pose, 2021. "Entrepreneurship and the fight against poverty in US cities," Environment and Planning A, , vol. 53(1), pages 31-52, February.
    14. Edward J. Feser, 2003. "What Regions Do Rather than Make: A Proposed Set of Knowledge-based Occupation Clusters," Urban Studies, Urban Studies Journal Limited, vol. 40(10), pages 1937-1958, September.
    15. Md. Nurul Amin & Tetsushi Sonobe, 2013. "The success of the industrial development policy in the pharmaceutical industry in Bangladesh," GRIPS Discussion Papers 13-07, National Graduate Institute for Policy Studies.
    16. Angjellari-Dajci, Fiorentina & Cebula, Richard & Boylan, Robert & Borg, Rody, 2015. "Uncovering Hidden Industry Linkages in Northeast Florida’s Regional Economy: The Case for Export Expansion in Florida’s Fourth Largest MSA," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 45(2).
    17. Gordon F. Mulligan, 2008. "A New Shortcut Method for Estimating Economic Base Multipliers," Regional Science Policy & Practice, Wiley Blackwell, vol. 1(1), pages 67-84, November.
    18. repec:elg:eechap:14395_10 is not listed on IDEAS
    19. Ron Shaffer & Steve Deller & Dave Marcouiller, 2006. "Rethinking Community Economic Development," Economic Development Quarterly, , vol. 20(1), pages 59-74, February.
    20. Amy Glasmeier & Marie Howland, 1993. "Service-Led Rural Development: Definitions, Theories, and Empirical Evidence," International Regional Science Review, , vol. 16(1-2), pages 197-229, April.
    21. Elizabeth Currid & Kevin Stolarick, 2010. "The Occupation—Industry Mismatch: New Trajectories for Regional Cluster Analysis and Economic Development," Urban Studies, Urban Studies Journal Limited, vol. 47(2), pages 337-362, February.

    More about this item

    Keywords

    International Relations/Trade;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:jrapmc:132457. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/mcrsaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.