Export expansion and economic growth in Yugoslavia
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Abstract
This paper provides an analysis of the interdependence between export growth and the growth of GDP in the Yugoslav economy, and between the growth of export and the growth of output in Yugoslav manufacturing industry in the 1952-1987 period. The application of co-integration and causality test has shown that at the level of the economy as a whole, a unidirectional causal relationship exists between export to output. In the case of manufacturing industry there is a significant unidirectional causal relationship running the other way, from output to export. The results indicate the presence of autarchic tendencies in the Yugoslav economy in the long run, arising from the strong influence of domestic demand as the primary generator of economic growth.
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