ABSTRACT
The rapid growth of manufactured exports from the newly industrialised countries (NICs) in Asia has been one of the most significant features of the changing pattern of world trade in the post-war period. A large and growing body of literature has attempted to explain this growth and to derive policy guidance from the NIC experience for other developing countries. An issue at the centre of this literature is the relative importance of external demand and domestic supply factors in determining this export success. The parameter values of export demand and supply elasticities are crucial to this debate.
