Abstract
Realizing the export-led economic growth potential, the study aims to check the dynamic influence of manufacturing output premised on learning effects model on the export behavior of emerging market economies. Among the mean group and pooled mean group models in the umbrella method of autoregressive-distributed lag econometric technique, the latter one was chosen as it has added advantages. Also, it is supported by the Hausman test. The findings articulate that manufacturing value-added is an important ingredient, which influences the export testifying the existence of dynamic learning effects in export growth. A dynamic model of acquiring sophistication among exporters pinpoints the learning effects technique of exports. The export competitiveness is actualized through a dynamic learning process. The policy suggestion in this regard is to pace up mechanization of the economies, foster measures to reduce supply rigidities and labor market inflexibilities, and assist small and medium-scale enterprises and other types of firms in finding fresh avenues of long-term investment from foreign and advocating domestic supplies.
Highlights
Achieving a higher level of economic growth coupled with a well-sophisticated standard of living occupies a predominant place in the developmental agenda of many nations
Among the endogenous and exogenous variables considered in our model, both export and import are expressed in million United States Dollar (USD); gross domestic product (GDP) at constant 2010 USD is converted into a million USD
To estimate the dynamic effect of manufacturing output on export in ten emerging market economies, we employed an appropriate econometric tool on the time-series data collected for the period from 1980 to 2019
Summary
Achieving a higher level of economic growth coupled with a well-sophisticated standard of living occupies a predominant place in the developmental agenda of many nations. The industrialists have to undergo considerable augmentation in their sophistication level, technical know-how as they experience a learning process regarding the dynamics of export markets, the level of competitiveness and technological requirements. As a result, they become competitive in the export market over time and standardize their products with a lag. The favorable export regime will appear once the learning process has been realized
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