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The Export function is an idea used in economic theories to measure exports. The total amount of exports, E, in a nation is mainly affected by two variables, see import , the total foreign absorption and the real exchange rate.
Mel Watkins revived the theory during the 1960s and 1970s through his work on resource capitalism and Canadian political economy. [3] While the staples thesis originally described the evolution of the Canadian state, it has since been used to study the economies of many nations that are dependent upon resource extraction and primary industries.
Economic base analysis is a theory that posits that activities in an area divide into two categories: basic and nonbasic. Basic industries are those exporting from the region and bringing wealth from outside, while nonbasic (or service) industries support basic industries.
An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is an exporter ; the foreign buyers is an importer . [ 1 ]
Export-oriented industrialization was particularly characteristic of the development of the national economies of the developed East Asian Tigers: Hong Kong, Singapore, South Korea, and Taiwan in the post-World War II period. [1] Export-led growth is an economic strategy used by some developing countries. The strategy seeks to find a niche in ...
Thirlwall's law (named after Anthony Thirlwall) states that if long-run balance of payments equilibrium on current account is a requirement, and the real exchange rate stays relatively constant, then the long run growth of a country can be approximated by the ratio of the growth of exports to the income elasticity of demand for imports (Thirlwall, 1979).
This transition to neo-liberal economies is rooted in a nation’s subordination to an emphasis on free trade. [19] In contrast to older forms of extractivism, neo-extractivism regulates the allotment of resources and their revenue, pushes state-ownership of companies and raw materials, revises contracts, and raises export duties and taxes. [ 20 ]
New Trade Theory analyses individual enterprises and plants in an international competitive situation. The classical trade theory—i.e., the Heckscher–Ohlin model—has no enterprises in mind. The new trade theory treats enterprises in an industry as identical entities. "New" New Trade Theory (NNTT) gives focus on the diversity of enterprises.