Openness and economic growth: an empirical investigation

Bahmani‐Oskooee, Mohsen; Niroomand, Farhang

doi:10.1080/135048599352592

Cited by 55 publications

(18 citation statements)

References 14 publications

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“…Their empirical result indicated that international trade openness has a positive significant effect on economic growth. Bahmani‐Oskooee and Niroomand, () highlighted that trade openness has a positive and substantial impact on economic growth. Nevertheless, Eriṣ and Ulaṣan (2013) examined the association between trade openness and economics growth in the case of cross‐country panel during 1960–2000.…”

Section: Literature Reviewmentioning

confidence: 99%

The effect of trade openness on economic growth: Some empirical evidence from emerging market economies

Raghutla

2020

Journal of Public Affairs

107

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This study investigates the impact of trade openness on economic growth in a panel of five emerging market economies, covering the data period from 1993 to 2016. Based on the panel estimation methods, the empirical results confirm the long‐run relationship among trade openness, economic growth, financial development, inflation, labour force, and technology, whereas the findings of long‐run elasticities show that trade openness has a positive considerable impact on economic growth. Furthermore, the heterogeneous panel non‐causality tests indicate the presence of a bidirectional causality between economic growth and inflation and a unidirectional causality that runs from economic growth to trade openness and economic growth to financial development in the short run. Finally, the findings suggested that trade openness plays a substantial role in promoting economic growth while also promoting economic development in these five emerging market economies.

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Section: Literature Reviewmentioning

confidence: 99%

The effect of trade openness on economic growth: Some empirical evidence from emerging market economies

Raghutla

2020

Journal of Public Affairs

107

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“…First, the production function approach (Harms and Ursprung, 2004;Lipesy, 2000;Zapata and Rambaldi, 1997;Lin, 1995;Tsai, 1994;Wang, 1990;Feder, 1983;Tyler, 1981;Balassa, 1978); second, the time series approach (Nair-Reichert and Weinhold, 2001;Bahmani-Oskooee and Niroomand, 1999;De Mello, 1999;Kasibhatla and Sahney, 1996;Saltz, 1992;Jung et al, 1985). The paper, however, explores the time series approach of FDI-growth relationship.…”

Section: Introductionmentioning

confidence: 99%

The FDI- Led- Growth Hypothesis in ASEAN- 5 Countries: Evidence from Cointegrated Panel Analysis

Pradhan¹

2009

IJBM

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The paper works out the relationship between foreign direct investment (FDI) and economic growth in the five ASEAN countries namely, namely Indonesia, Malaysia, Philippines, Singapore and Thailand over the period . The empirical analysis is based on cointegration and causality test, both at the individual level and panel level. The results confirm that foreign direct investment and economic growth are cointegrated at the panel level, indicating the presence of long run equilibrium relationship between them. This is, however, true only for Singapore and Thailand at the individual country level. The Granger causality test further gives evidence that there is bidirectional causality between foreign direct investment and economic growth both at the panel level as well as individual country level except Malaysia.

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“…Thus, as a country opens its markets to the rest of the world, production becomes more efficient and enables the country to grow faster than if the economy were closed. Dollar (1992), Sachs and Warner (1995), Harrison (1996), Vamvakidis (1999), Frankel and Romer (1999) and Bahmani-Oskooee and Niroomand (1999) have all found that trade has a robust, positive effect on growth.…”

Section: Literature Reviewmentioning

confidence: 92%

Trade openness, labour market rigidity and economic growth: A dynamic panel data analysis

Polat

Andrés

2017

Econ. labour relat. rev.

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The rapid liberalisation of trade policies since the 1990s has brought additional attention to the role of trade as an engine of economic growth. Although an abundant literature addresses the relationship between openness and economic growth, the real effect of trade liberalisation is still ambiguous and undetermined. Most previous studies have ignored the selection effects of strict labour regulations on international trade. The main objective of this study is to measure the role of labour regulations in moderating the contribution of trade to economic growth among 30 Organisation for Economic Co-operation and Development countries for the period 2006–2013. In doing so, we employ a one-step Generalised Method of Moments system estimation method. Our results reveal that openness to trade does not have a robust and significant effect on growth. However, the interaction of openness with strict labour regulations enhances the contributions of trade to growth.

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Openness and economic growth: an empirical investigation

Cited by 55 publications

References 14 publications

The effect of trade openness on economic growth: Some empirical evidence from emerging market economies

The effect of trade openness on economic growth: Some empirical evidence from emerging market economies

The FDI- Led- Growth Hypothesis in ASEAN- 5 Countries: Evidence from Cointegrated Panel Analysis

Trade openness, labour market rigidity and economic growth: A dynamic panel data analysis

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