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at a very early stage and provided incentive to the exporting sector by subsidizing the sector in many ways. On the contrary, though, Israel and Yoguslavia promoted export during the same period, but their efforts seemed to dim in the later periods. On the other extreme, Argentina, Brazil, Columbia and Mexico, continued the existing trade policy, supporting import substitution (IS). During this period, Chile and India continued their inward-oriented policies and was in the phase of weakly introducing export promotion policies. The resulting conclusion estimated that, while Korea and Taiwan would have less growth with more export, Chile, India, Mexico,Brazil and almost all other countries would have better levels of growth with higher levels of export. The countries that moved to opposite direction is due to the unfavorable internal conditions and policy constraints, the countries have. Similarly, for Phillipines and Srilanka, opposite direction of relationship is found (Islam M. , 1998).

3.3. Controversial Theories and Evidence

Due to the debt crisis and continued recession that prevailed during 1980s, after many countries adopted export promoting strategies, theorists and economicsts were dubious about export-led growth hypothesis. It became a necessity to re-examine the export promoting strategies (Bhagwati J. , 1988).

The revived passimistic school of thought was dominated by old and new school of thoughts. The most influencial school of thoughts were suggested by two great contemporay development economists, that were Raul Prebisch (Prebisch, 1952) and Ragner Nurkse (Nurkse, 1953). Prebisch (1952) recommended that, chief exports for newly industrialized countries will decline following a natural cycle, regardless of the trade policy implemented by the home country. Producers of home economy will respond by rapid industrialization and the economy will respond by employing more protection and higher level of restrictions. All these attempts will make export promotion unjustified. The other dominant export passimism was realized by Nurkse(1953), who stressed more on “balanced growth”. The “balanced growth” theory suggests that the accelerated pace of growth and exports of developing countries, make foreign markets unable to accommodate imports on sufficient level. Developing economies shift from raw materials to synthetic materials as inputs, and damage exports for developing countries longer run. Riedel (1984) suggests that, demand dominates export performance. It is a biased view towards export growth relationship if that is explained by export performance of selected countries. Export performance maybe more reliant on domestic incentives of a country, rather than the external conditions (Riedel, 1984).

The new literatures focus more on successful Asian exporters, which maybe a mistake to be implemented as a general strategy for all economies. The sources of worry advocates that, markets are shifted to export promotion, markets will fail to absorb all exports. The earlier wave of export passimism was afflicted by this idea. Economists have always supported the idea of intra-industry specialization which leads to adoption of inward-oriented policies, and terms an economy as closed economy.The countries that本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。