Exportled growth can drive an economy forward from "summary" of Theory of Economic Growth by W. Arthur Lewis
Export-led growth refers to a strategy where a country boosts its economic growth by focusing on increasing exports. The idea is that by selling more goods and services to other countries, a nation can generate more revenue, create jobs, and stimulate overall economic activity. This approach is particularly relevant for developing countries that have limited domestic consumer markets and need to tap into external demand to drive their economies forward.
The concept of export-led growth was popularized by W. Arthur Lewis, who argued that developing countries could benefit from specializing in producing goods for export. By focusing on industries where they have a comparative advantage, such as low labor costs or abundant natural resources, these countries can compete in international markets and attract foreign investment. As a result, they can increase their production capacity, improve infrastructure...
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