External demand and internal supply factors in LDC export performance
Keywords:Less developed countries, world trade, exports, growth, development
One interesting and important issue in the trade-development area arises out of the failure of the exports of less developed countries (LDCs) to keep pace with the expansion of world trade since the end of World War II. The question is to what extent this failure can be attributed to factors that are internal to the economies of the LDC and to what degree external demand conditions are responsible. In this paper, the author brings together the available evidence on this question and explores some possible further avenues. Since exports are hardly an end in themselves, the relation of exports to economic growth is also examined.
JEL: O40, F10, F43