Openness and growth: A time-series, cross-country analysis for developing countries

Harrison, Ann

doi:10.1016/0304-3878(95)00042-9

Cited by 824 publications

(416 citation statements)

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“…This result is consistent with several theoretical predictions and empirical findings in the literature: see, for example, Dollar (1992), Ben-David (1993), Sachs and Warner (1995), Harrison (1996), Edwards (1998), Frankel and Romer (1999), Easterly and Levine (2001), Irwin and Tervio (2002), Dollar and Kraay (2003), etc., and is a reflection of the favorable effects of policies encouraging trade liberalization and globalization pursued by many of these countries, as well as issues linking trade with technology transfers, institutional quality and geographical factors. In the short-run, trade exhibits a negative but insignificant impact on growth for all MIC and UMIC, except in one case as shown in Table 5, where the trade coefficient appears to be negative and significant for the LMIC.…”

Section: Sufficient Condition For a Quadratic Relationshipsupporting

confidence: 91%

Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries

2015

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We revisit the relationship between financial development and economic growth in a panel of 52 middle-income countries over the 1980-2008 period. Using pooled mean group estimations in a dynamic heterogeneous panel setting, we show that there is an inverted U-shaped relationship between finance and growth in the long-run. In the short run, the relationship is insignificant. This suggests that too much finance can exert a negative influence on growth in middle-income countries. The finding of a non-monotonic effect of financial development on growth is confirmed by estimating a threshold model.

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Section: Sufficient Condition For a Quadratic Relationshipsupporting

confidence: 91%

Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries

2015

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“…The logarithm of per capita real gross domestic product (GDP) represents the level of economic growth (EG). For trade openness (TO), the logarithm of the sum of exports and imports to real GDP is used because this measure is a simple and common indicator of TO as suggested by Harrison (1996). The data were taken from the World Bank's World Development Indicators (WDI) database.…”

Section: A Variables and Datamentioning

confidence: 99%

Institutional Quality, Trade Openness, and Financial Sector Development in Asia: An Empirical Investigation

Kim

Lee

2015

Emerging Markets Finance and Trade

167

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The views expressed in this paper are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. Terms of use: Documents inADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use.By making any designation of or reference to a particular territory or geographic area, or by using the term "country" in this document, ADB does not intend to make any judgments as to the legal or other status of any territory or area. Note: In this publication, "$" refers to US dollars.The ADB Economics Working Paper Series is a forum for stimulating discussion and eliciting feedback on ongoing and recently completed research and policy studies undertaken by the Asian Development Bank (ADB) staff, consultants, or resource persons. The series deals with key economic and development problems, particularly those facing the Asia and Pacific region; as well as conceptual, analytical, or methodological issues relating to project/program economic analysis, and statistical data and measurement. The series aims to enhance the knowledge on Asia's development and policy challenges; strengthen analytical rigor and quality of ADB's country partnership strategies, and its subregional and country operations; and improve the quality and availability of statistical data and development indicators for monitoring development effectiveness.

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“…2 Examples include Dollar (1992), Edwards (1992Edwards ( , 1998, Lee (1993), Sachs and Warner (1995), Harrison (1996), Vamvakidis (1999), Frankel and Romer (1999), Greenaway et al (2002), Yanikkaya (2003), Lee et al (2004), Aksoy and Salinas (2006), Foster (2008), Kneller et al (2008), Wacziarg and Welch (2008), Chang et al (2009), Kim (2011). also during 1960s and it is more likely that their trade policy measures did not change substantially over the period .…”

Section: Introductionmentioning

confidence: 99%

Openness to International Trade and Economic Growth: A Cross-Country Empirical Investigation

Ulasan¹

2012

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in EconStor may Bülent Ulaşan Central Bank of the Republic of TurkeyAbstract In this paper, we revisit the empirical evidence on the relationship between trade openness and long-run economic growth over the sample period 1960-2000. In contrast to previous studies focusing mainly on the period 1970-1990, this paper reassesses the openness-growth nexus over a much longer sample period, enabling us to better account both trade policy stance and long-run growth dynamics. We carry out our empirical investigation by employing various openness measures suggested in the literature rather than relying on a few proxy variables. We also construct three additional composite trade policy indexes directly measuring trade policy stance. Our findings indicate that many openness variables are positively and significantly correlated with long-run economic growth. However, in some cases, this result is driven by the presence of a few outlying countries. Adding to the fragility of the openness-growth association, the significance of openness variables disappears once other growth determinants, such as institutions, population heterogeneity, geography and macroeconomic stability are accounted for.JEL F13, F43, O47.

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Openness and growth: A time-series, cross-country analysis for developing countries

Cited by 824 publications

References 21 publications

Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries

Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries

Institutional Quality, Trade Openness, and Financial Sector Development in Asia: An Empirical Investigation

Openness to International Trade and Economic Growth: A Cross-Country Empirical Investigation

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