This posting shows similarities between wording in
the following article by Douglas Agbetsiafa and wording in the works of other, earlier published
authors:
Agbetsiafa,
Douglas K. (2010) Regional Integration, Trade Openness, and Economic Growth:
Causality Evidence from UEMOA countries. International
Business and Economics Research, 9(10): 55-68.
Available at: http://journals.cluteonline.com/index.php/IBER/article/view/639.
Douglas Agbetsiafa is Professor of Economics and Chair of the Economics Area at Indiana University South Bend (IUSB). He holds a PhD in Economics from the University of Notre Dame. That PhD also contains similar wording to the works of earlier published authors.
Available at: http://journals.cluteonline.com/index.php/IBER/article/view/639.
Douglas Agbetsiafa is Professor of Economics and Chair of the Economics Area at Indiana University South Bend (IUSB). He holds a PhD in Economics from the University of Notre Dame. That PhD also contains similar wording to the works of earlier published authors.
From Agbetsiafa’s
article, page 55:
The
UEMOA[1] is a monetary union which encompasses most of France’s former colonies
in the area. The current member states are Benin, Burkina Faso, Cote d’Ivoire,
Mali, Niger, Senegal Togo, and Guinea Bissau who joined later in 1997. It forms
part of the Franc Zone, the other main component of which is a second monetary
union, the Economic and Monetary Community of Central Africa (CEMAC). The
cornerstone of the Franc Zone is the use of currencies that the French Treasury
guarantees to exchange for Euros at a fixed rate. All member states of the
Union have in common the use of a common currency, the CFA franc.
Cite
given in sentence is to:
Adelman, I., 1984. Beyond Export-Led Growth. World Development, 12, pp. 937-49.
Compare
this to:
The
UEMOA is a monetary union arising from the final phase of French colonialism in
West Africa (1948-1962), and encompasses most of France’s former colonies in
the area. The current member states are Benin, Burkina Faso, Cote d’Ivoire,
Guinea-Bissau,1 Mali, Niger, Senegal and Togo.
It forms part of the Franc Zone, the other main component of which is a second
monetary union, the Economic and Monetary Community of Central Africa (CEMAC).
The cornerstone of the Franc Zone is the use of currencies that the French
Treasury guarantees to exchange for Euros at a fixed rate.
[See pages 2-3]
From Agbetsiafa’s
article, page 55:
The
enduring institutional link with the former colonial power gives the UEMOA
countries an unusually high level of financial stability, compared to other
African countries with similar levels of economic development.
Compare
this to:
The
enduring institutional link with the former colonial power gives the UEMOA
countries an unusually high level of financial stability, compared to other
African countries with similar levels of economic development
[See page 4]
From Agbetsiafa’s
article, page 56:
The
Union has established a common accounting system, periodic reviews of member
countries’ macroeconomic policies based on convergence criteria, a regional
stock exchange, and regulatory framework for a regional banking system Six of
the eight member countries are eligible for trade benefits under African Growth
and Opportunity Act (AGOA), and four of these countries – Benin, Burkina Faso,
Mali, and Senegal – are also eligible to receive AGOA’s textile and apparel.
Compare
this to:
UEMOA has established a common accounting system, periodic
reviews of member countries' macroeconomic policies based on convergence
criteria, a regional stock exchange, and the legal and regulatory framework for
a regional banking system.
Six of the eight UEMOA member countries are eligible
for trade benefits under African Growth and Opportunity Act (AGOA), and four of
these countries - Benin, Burkina Faso, Mali, and Senegal - are also eligible to
receive AGOA's textile and apparel benefits.
[See paragraphs 2 and 3]
From Agbetsiafa’s
article, page 56:
International
trade may induce economic growth in several ways, including by increasing a
country’s level of specialization, and positively affecting innovation and
technological diffusion (Harrison, 1996). Conversely, economic development may
also trigger a country’s level of trade openness, e.g. with shifts in
production and demand patterns as well as increased levels of international
integration that accompany national industrialization experiences. Empirically,
Edwards (1998) provides some evidence for the hypothesis that trade openness
leads economic growth, finding that more open economies experience greater
productivity growth. In contrast, Rodriguez and Rodrik (2001) find only limited
support for a strong and positive link between openness and economic
development.
Compare
this to:
… may induce economic growth in several ways, including by increasing a
country’s level of specialization and positively affecting innovation and
technological diffusion (Harrison, 1996). Conversely, economic development may
also trigger a country’s level of trade openness, e.g. with shifts in
production and demand patterns as well as increased levels of international
integration that accompany national industrialization experiences. Empirically,
Edwards (1998) provides some empirical evidence for the hypothesis that trade
openness leads economic growth, finding that more open economies experience
greater productivity growth. In contrast, Rodriguez and Rodrik (2001) find only
limited support for a strong and positive link between openness and economic
development.
From Agbetsiafa’s
article, page 57:
The
classical and neoclassical theory seeks to explain the benefits from trade by
contrasting the likely outcomes that might prevail with free trade than with
autarky. Central to the classical and neoclassical theory is the notion of
comparative advantage that would lead to an efficient reallocation of
international resources, largely due to specialization and division of labor.
In the conventional theory, the gains from trade come from the import side.
However, exports have an indirect but pivotal role as “exports allow the
country to “buy” imports of intermediate goods on more favorable terms than if
produced at home” (Meier, 1995, p. 459). The neoclassical theory is essentially
supply oriented (Federici and Marconi, 2002), though the link between exports
and growth can be traced from some earlier works. In his demand-oriented theory
of growth, Kaldor (1970) identifies foreign demand as the ultimate constraint
on growth in an open economy.
Compare
this to:
The
conventional trade theory seeks to explain the benefits from trade by contrasting
the likely outcomes of free trade with those of autarky. Central to the
neoclassical theory is the notion of the comparative advantage that, if exists,
will lead to an efficient reallocation of international resources, largely due
to specialization and the division of labor. Specialization in line with
comparative advantage helps optimize the production of a trading country. In the
conventional theory, the gains from trade come from the import side. However,
exports have an indirect but pivotal role as “exports allow the country to
‘buy’ imports (of intermediate goods) on more favorable terms than if produced
at home” (Meier, 1995, p. 459). The neoclassical theory is essentially
supply-oriented (Federici and Marconi, 2002).
However,
some earlier studies shed light on the exports- growth link. In his
demand-oriented theory of growth, Kaldor (1970) identified foreign demand as
the ultimate constraint of growth in an open economy.
Mohammad Hossain & Neil Dias Karunaratne (2004) “EXPORTS AND ECONOMIC GROWTH IN
BANGLADESH: Has Manufacturing Exports Become a New Engine of Export-Led
Growth?” International Trade Journal,
18(4): 303-334, at p. 306.
From Agbetsiafa’s
article, page 57:
The
trade-led growth hypothesis has received its latest boost from the endogenous
growth theory which identifies four major sources of growth, namely, (i)
increases in accumulation of capital goods; (ii) improvements in the quality of
the labor force; (iii) reallocation of resources from low to high-productivity
sectors; and (iv) technical change (Durlauf et al., 1996).
Compare
this to:
The
new growth theory identifies four major sources of growth, namely,
a) increases in accumulation of capital goods;
b) improvements in the quality of the labor force;
c) reallocation of resources from low- to high-productivity
sectors; and
d) technical change (Durlauf et al., 1996).
Mohammad Hossain & Neil Dias Karunaratne (2004) “EXPORTS AND ECONOMIC GROWTH IN
BANGLADESH: Has Manufacturing Exports Become a New Engine of Export-Led
Growth?” International Trade Journal,
18(4): 303-334, at p. 307.
From Agbetsiafa’s
article, page 57:
The
two basic differences between the new growth theory and the neoclassical theory
are: (a) various social and economic policies are tipped to affect the growth
rate in the new growth theory, while in the neoclassical theory, these policies
affect only the level of real income not the growth rate; and (b) in the
neoclassical theory, physical capital is deemed as a transitory source of
growth as it is subject to diminishing returns, while in the new growth theory,
both physical and human capital are assumed to exhibit increasing returns to
scale.
Compare
this to:
Two
basic differences between the new growth theory and the neoclassical theory
are:
a) in the new growth theory, various social and economic policies
are tipped to affect the growth rate, while in the neoclassical theory, these
policies affect only the level of real income not the growth rate; and
b) in the neoclassical theory, physical capital is deemed as a
transitory source of growth as it is subject to diminishing returns to scale while
in the new growth theory, both physical and human capital are assumed to
exhibit increasing returns to scale.
Mohammad Hossain & Neil Dias Karunaratne (2004) “EXPORTS AND ECONOMIC GROWTH IN
BANGLADESH: Has Manufacturing Exports Become a New Engine of Export-Led
Growth?” International Trade Journal,
18(4): 303-334, at p. 307.
From Agbetsiafa’s
article, page
57:
Roemer
explains the poorness of a developing country in terms of its lack of physical
objects such as factories, and roads (`Object gaps’) and lack of ideas or
knowledge (`Idea gaps’) to create values compared to a developed country. An
object gap is manifested in savings and capital accumulation while an idea gap
includes insights about packaging, marketing, distribution, payment systems,
quality control as well as the technology gap among others.
Compare
this to:
Romer
(1993) also held a similar view, and explains the poorness of a
developingcountryintermsofitslackofphysicalobjectssuchas factories and roads
(“object gaps”) and lack of ideas or knowledge (“idea gaps”) to create values
compared to a developed country. An object gap is manifested in savings and
accumulation while an idea gap “directs to the patterns of interaction and
communi cationbetweenadevelopingcountryandtherestoftheworld” (Romer, 1993, p.
544). Idea gaps include insights about packag- ing, marketing, distribution,
payment systems, quality control, and the technology gap, among other things.
Mohammad Hossain & Neil Dias Karunaratne (2004) “EXPORTS AND ECONOMIC GROWTH IN
BANGLADESH: Has Manufacturing Exports Become a New Engine of Export-Led
Growth?” International Trade Journal,
18(4): 303-334, at p.308.
From Agbetsiafa’s
article, page 57-58:
Support
for the trade-led growth hypothesis is not, however, universal. Young (1991)
argues that learning by doing effects may slow down at later stages of economic
development and can even stop eventually if not reinforced by new technical
progress. This echoes the general sentiment that in an uncertain world market,
reliance on exports alone may not necessarily lead to a sustained long-term
growth in a developing country and that the markets in the industrialized world
may not be large enough to absorb these additional exports from the developing countries (Adelman, 1984; Cline, 1984).
Compare
this to:
The
support for the export-led growth theory is not, however, universal. Young(1991)
argued that the learning by doing effects may slow down at later stages and can
even stop ultimately if not reinforced by new technical progress. Some argue
that, in an uncertain world market, reliance on exports may not lead to a
sustained long-term growth in a developing country and that the markets in the
developed world may not be large enough to house additional exports from the
developing countries (Adelman, 1984; Cline, 1984).
Mohammad Hossain & Neil Dias Karunaratne (2004) “EXPORTS AND ECONOMIC GROWTH IN
BANGLADESH: Has Manufacturing Exports Become a New Engine of Export-Led
Growth?” International Trade Journal,
18(4): 303-334, at p.308.
From Agbetsiafa’s
article, page 59:
Similarly,
in only 10 of the 102 time-series studies, the findings indicate no clear
causal relationship between exports and growth. In about as many cases, the
evidence supports only the growth-led trade hypothesis.
Compare
this to:
10 out
of the 102 time- series studies, the findings indicate no clear causal
relationship between exports and growth. In about as many cases, the evidence
supports only the growth-led export hypothesis. All other studies support the
export-led growth hypothesis, of which a total of 12 suggest bi-directional
causality.
Mohammad Hossain & Neil Dias Karunaratne (2004) “EXPORTS AND ECONOMIC GROWTH IN
BANGLADESH: Has Manufacturing Exports Become a New Engine of Export-Led
Growth?” International Trade Journal,
18(4): 303-334, at p.309.
From Agbetsiafa’s
article, page 59:
A
prerequisite in applying the co-integration procedure is to test the unit root
properties of the series. As a next step, a unit root test is employed to check
if the considered time series are stationary, i.e. I(0), or first difference-stationary, i.e. I(1). The existence of unit roots in the
considered series may contaminate the findings of the causality analyses
because of the properties of non-stationary time series.
Compare
this to:
As
a next step, a unit root test is employed to check if the considered time
series are stationary, i.e. I(0), or
first difference-stationary, i.e. I(1). The
existence of unit roots in the considered series may contaminate the findings
of our causality analyses because of the properties of nonstationary time
series.
From Agbetsiafa’s
article, page
59:
The
PP unit root test is also used based on Choi and Chung (1995) who argue that
this test is more powerful when low sampling frequency data, i.e. annual data
is used, compared to the standard unit root tests developed by Dickey and
Fuller (1979, 1981) on which the Phillips and Perron (1988) builds.
Compare
this to:
... based on Choi and Chung
(1995) who argue that this test is more powerful when low sampling frequency
data, i.e. annual data is used, compared to the standard unit root tests
developed by Dickey and Fuller (1979, 1981) on which the PP test builds.
No comments:
Post a Comment