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Evidence on the Contribution of Trade Reform towards International Income Equalization

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  • Ben-David, Dan
  • Bohara, Alok K

Abstract

This paper provides some historical evidence on the impact of trade reform on income disparities between the liberalizing countries. The convergence test developed here involves joint estimation of augmented Dickey-Fuller type equations using seemingly unrelated regression (SUR) techniques. Monte Carlo simulations are used to calculate the critical values which are in turn used to determine the significance of convergence. We find that countries which embarked on extensive trade liberalization programs exhibited significant income convergence with one another while countries that did not liberalize trade showed no evidence of convergence. Copyright 1997 by Blackwell Publishing Ltd.

Suggested Citation

  • Ben-David, Dan & Bohara, Alok K, 1997. "Evidence on the Contribution of Trade Reform towards International Income Equalization," Review of International Economics, Wiley Blackwell, vol. 5(2), pages 246-255, May.
    • Handle: RePEc:bla:reviec:v:5:y:1997:i:2:p:246-55
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    Cited by:

    1. Leonard Dudley & Ulrich Blum, 2001. "Religion and economic growth: was Weber right?," Journal of Evolutionary Economics, Springer, vol. 11(2), pages 207-230.
    2. Chad Stroomer & David E.A. Giles, 2003. "Income Convergence and trade Openness: Fuzzy Clustering and Time Series Evidence," Econometrics Working Papers 0304, Department of Economics, University of Victoria.
    3. David Giles & Chad Stroomer, 2006. "Does Trade Openness Affect the Speed of Output Convergence? Some Empirical Evidence," Empirical Economics, Springer, vol. 31(4), pages 883-903, November.
    4. Sallahuddin Hassan & Musa Murtala, 2016. "The Role of Domestic Private Investment in Promoting Per Capita Income Convergence amongst Association of Southeast Asian Nations-5 Economies," International Journal of Economics and Financial Issues, Econjournals, vol. 6(4), pages 1299-1303.

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