1. – Professor, Department Of Economics, Panjab University Chandigarh.
| Received
22-May-2018 |
Accepted
- |
Published
22-May-2018 |
Abstract
There is nothing to be gained by exports surplus, unless it is important for bringing forth finance-
led new investment opportunities that embody better supply responses. The causation should be: export surplus actualizes initial better supply responses,
which in turn creates the Youngian external economies i.e. the possibility of further investments that are more productive. Interestingly, then advanced growth processes, enabled by this
causation, also provides (in a sequential manner) the opportunity for the late comers to catch
up – permits them to gainfully participate in international trade, which amounts not to static gains, but to experiencing a symbiotic exports and output growth relationship with trade balance,
which could be true of their major trading partners.
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