This paper challenges the results of the empirical literature in support of the neoclassical theory of export-led growth and provides a theoretical and empirical alternative. We applied cross-section and time-series regression analysis to test the neoclassical hypothesis that exports lead to superior economic performance (higher growth of output), and our alternative hypothesis that both exports and economic growth are determined by prior economic development and structural change. We found that the sectoral distribution of employment and output toward the manufacturing sector contributes to improved exports and overall economic performance. Positive and statistically significant association was obtained between exports growth and the growth of output when population statistics were used for the labor variable in the neoclassical growth model. Substituting employment for population, we found no statistical support for the expert-led growth theory.