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Export led growth strategy is not paying off equally to all developing countries and the hypothesis of a ‘fallacy of composition’ is getting more acknowledgement now a days (UNCTAD, 2002; Razmi & Blecker, 2004). Addressing the East Asian (Korea, Hong Kong, Singapore, and Taiwan) rapid growth, Cline (1982) opined against a sure success of similar model in other developing countries stating that “generalization of the East Asian model of export-led growth across all developing countries would result in untenable market penetration into industrial countries.” Kaplinsky (1999, p. 2) also supported the view inserting that most of the East Asian economies “locked themselves into a growth trajectory in which specialization in factor and product markets associated with low barriers to entry led to high rates of competition.” Though empirical finding like Kwan and Kwok (1996) supported China’s growth as being “export-led” type, Boltho (1996) found that Japan’s economic growth was mainly due to the domestic forces rather than foreign demand. The possibility of demand-side constraints on export-led
growth is more vivid when we concentrate in a single industry like clothing and textile (CT, hereafter). In fact, impact analysis of apparel export on developing countries gives us a better picture of the fallacy, as it is a manufacturing product involving modern technology. Consistency of demand, market separation for heterogeneous CT items, and a healthy share of world export earnings captured by CT industry have attracted us to examining its contribution to economic growth of major Asian CT exporting countries, focusing Bangladesh.

http://wbiaus.org/12.%20Akhtaruzzaman.pdf

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