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The Effect of Export Diversification on Economic Growth: The Case of the BRICS-T

The Effect of Export Diversification on Economic Growth: The Case of the BRICS-T
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Author(s): Mehmet Hilmi Özkaya (Uşak University, Turkey) and Tuba Yücel (Uşak University, Turkey)
Copyright: 2021
Pages: 13
Source title: Handbook of Research on Institutional, Economic, and Social Impacts of Globalization and Liberalization
Source Author(s)/Editor(s): Yilmaz Bayar (Bandirma Onyedi Eylul University, Turkey)
DOI: 10.4018/978-1-7998-4459-4.ch021

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Abstract

There are many studies on the growth of emerging economies under the leadership of foreign trade in the literature. The majority of the mentioned studies reveal that exports increase growth. In addition to expressing the increase in exports in numbers in recent years, it is also seen that researches about its effect on growth are also prominent. In this context, Dumitruscu-Hurlin (2012) panel causality test was applied using data covering the period of 1990-2018 to determine the relationship between Turkey and BRICS countries' product diversification in exports and economic growth. Findings obtained shows that product variety in exports in the relevant country group is effective on long-term economic growth.

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