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This paper investigates the causal relationship between export growth and industrial development in eight Newly Industrializing Countries (NICs). Results of Sims' causality test show that for most of the NICs, there is a strong bidirectional causality between the growth of exports and industrial development. These findings support the export-led growth strategy in that expansion in exports not only promote the growth of national income but also lead to structural transformation of the developing countries.
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Peter C.Y. Chow (1987) studied this question.
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