Is the Washington Consensus Dead? Growth, Openness, and the Great Liberalization, 1970s–2000s

Abstract

Rose, and seminar participants at the Harvard Business School BGIE group. All errors are ours. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peerreviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications.

The Role of Trade Policies in Building Regional Value Chains – Some Preliminary Evidence From Africa

“…Amiti and Konings () already show that productivity gains arising from lower input tariffs are larger than from a reduction of output tariffs. Estevadeordal and Taylor () find that it is mainly tariffs on capital and intermediate goods that decelerate growth, while tariffs on consumer goods have a much weaker effect. Econometric analysis of trade in value added further requires a differentiation of tariffs in different stages of processing (SoP).…”

Services policy reform and manufacturing employment: Evidence from transition economies

“…Studies using sector‐level data include Barone and Cingano (), Beverelli, Fiorini, and Hoekman (), Bourlès, Cette, Lopez, Mairesse, and Nicoletti (). Analogous mechanisms have been studied for trade policies (import tariffs) and/or product market regulations affecting tangible goods (nonservices) that are used by downstream industries (see for instance Ahsan, ; Amiti & Konings, ; Bas & Causa, ; Bas & Strauss‐Kahn, ; Blonigen, ; De Loecker, Goldberg, Khandelwal, & Pavcnik, ; Estevadeordal & Taylor, ; Goldberg, Khandelwal, Pavcnik, & Topalova, ; Halpern, Koren, & Szeidl, ; Topalova & Khandelwal, ).…”

A Review of the Recent Literature on the Institutional Economics Analysis of the Long‐run Performance of Nations

“…Some of those whose work has been severely criticized by the new institutionalists have struck back with new regressions that purport to show the continued importance of noninstitution variables, for example, Glaeser et al . (), McCord and Sachs (), Spolaore and Wacziarg (), and Estevadeordal and Taylor () have reasserted the importance of human capital, geography, culture, and trade policy, respectively.…”

“…For the recent institutionalist "growth regression" literature, we have reported criticism of some of the measures used to represent institutions in these regressions and the specification of the models. Some of those whose work has been severely criticized by the new institutionalists have struck back with new regressions that purport to show the continued importance of noninstitution variables, for example, Glaeser et al (2004), McCord and Sachs (2013), Spolaore and Wacziarg (2013), and Estevadeordal and Taylor (2013) have reasserted the importance of human capital, geography, culture, and trade policy, respectively. Doppelhofer et al (2000) examined the methodological problems of finding the variables that are "truly" related to growth when there are many models and potential regressors.…”