HomeDespre ECTAEventsPolitica editorialaTrimite un articolParteneri / link-uri utileArchiveAbonamentContact

ISSN 1841-8678   (print)
ISSN 1844-0029   (online)


Archive ECTAP

Note: for the period 1994-2003 the archive of the magazine will not be available online

Supplements ECTAP

If you cannot open the pdf file you need Adobe Reader.
download Adobe Reader

Creative Commons License

Theoretical and Applied Economics
No. 2 / 2022 (631), Summer

A comparative analysis of export-led and domestic demand-led growth hypotheses in BRICS economies

Birla Institute of Technology and Science, Pilani, India

Abstract. The elevation of economic growth and development of an economy has always been a prime concern for nations. In this context, exports and domestic demand are the two economic growth components that promote and accelerate economic growth. While exports are given more emphasis whereas domestic demand is underestimated. Moreover, the present study argues the superiority of domestic demand-led growth over export-led growth. As a novel contribution, the study compares export-led growth (ELG) and domestic demand-led growth (DDLG) hypotheses by employing a newly developed methodology for BRICS for the period 1991-2019. The data in the study is found to be heterogeneous and cross-sectionally dependent. Therefore, the study further employs Dumitrescu-Hurlin causality test, common correlated effects (CCE) mean group estimator which considers cross-sectional dependence and heterogeneity between the variables. Our findings support both hypotheses and also report that DDLG contributes more towards the economic growth of an economy than ELG. Based on the results, the study claims that ELG and DDLG are complementary to each other rather than competitive.

Keywords: Export, Economic Growth, BRICS, Cross-section Dependence, CCE Mean Group Estimator.

Download the full article:  


Open acces




The Economicity. The Epistemic Landscape, Marin Dinu, 2016


ISSN 1841-8678 (ediția print) / ISSN 1844-0029 (ediția online)
© Copyright Asociația Generală a Economiștilor din România (AGER) / General Association of Economists From Romania  (GAER)
Redacția: 010702, București, Calea Griviței nr. 21, sector 1, E-mail:

© 2006-2023 AGER