Openness and Growth in North Korea: Evidence from Time--Series Data
AbstractNew growth theories suggest that an economy"s increased openness raises domestic productivity, and hence must have a positive effect on the living standards of a nation. The North Korean economy, isolated from world trade for several decades and its economy devastated, provides a test for this implied causality. The possibility that the ultimate source of declining real gross national product since 1974 is a decrease in trade liberalization of the North Korean economy cannot be rejected. The results are more definitive when the sample is split into two subperiods, pre--1974 and post--1974. These findings are generally consistent with the conventional model in which free trade stimulates economic growth. Copyright Blackwell Publishing Ltd. 2003
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Review of International Economics.
Volume (Year): 11 (2003)
Issue (Month): 1 (February)
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- Muhammad, Shahbaz, 2012.
"Does Trade Openness Affect Long Run Growth? Cointegration, Causality and Forecast Error Variance Decomposition Tests for Pakistan,"
37391, University Library of Munich, Germany, revised 10 Mar 2012.
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- Sumie Sato & Mototsugu Fukushige, 2007. "The End of Import-Led Growth? North Korean Evidence," Discussion Papers in Economics and Business 07-38, Osaka University, Graduate School of Economics and Osaka School of International Public Policy (OSIPP).
- Talberth, John & Bohara, Alok K., 2006. "Economic openness and green GDP," Ecological Economics, Elsevier, vol. 58(4), pages 743-758, July.
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