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In terms of time series analysis, Wilson (1994) investigated the export earnings instability of Singapore from 1957 to 1988. His findings revealed that there was a high level of instability in the mid 1960s due to political and economic uncertainty in Singapore and instability from 1972 to 1988 was due to shocks from the international economy. economy with links of london necklaces Nevertheless the problem of export fluctuations did not appear to be serious given her record of rapid development growth which had largely insulates her from the negative effects of instability. In a related work, Yeats (1998) reported that studies have shown that countries with highly concentrated exports may experience a relatively high degree of export earning instability that could reduce a country's ability to maintain the financial commitment required by regional arrangements. discount links of london
It is generally agreed that countries specialize in a narrow group of export products exposed themselves to volatility or instability of export earnings (Samen, 2006). links of london bracelets The experience of Least Developed Countries such as Bangladesh, Myanmar and Nepal which had adopted export-oriented policies in the late 1980s initially showed a rapid rate of export growth. However, due to the over-reliance on a narrow group of export products, these countries experienced a slower and even a declined rate of export growth (United Nations, 2004). The dismal performance of several Latin America countries in the 1980s which had implemented inward-oriented policies provided evidence that export diversification and economic development were related. However, Chile is an exception and at odds with the slow-growing Latin American economies. links of london bangles It has managed to mitigate the effects of instability and minimize the volatility of its exports portfolio by developing a relatively significant and more diversified export sector (Luders, 2006). According to Amin Guti.rrez de Pineres and Ferrantino (1997), the main source of diversification in Chile has been the emergence of primary products industries under the inducement of real exchange rate depreciation. As a result, these diversified exports have become the engine of growth for Chile.