Evidence on the Contribution of Trade Reform towards International Income Equalization
AbstractThis 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.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Review of International Economics.
Volume (Year): 5 (1997)
Issue (Month): 2 (May)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0965-7576
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- David E. Giles & Chad N. Stroomer, 2005.
"Does Trade Openness Affect the Speed of Output Convergence? Some Empirical Evidence,"
Econometrics Working Papers
0509, Department of Economics, University of Victoria.
- 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.
- David E. A. Giles & Chad Stroomer, 2003. "Does Trade Openness Affect the Speed of Output Convergence? Some Empirical Evidence," Econometrics Working Papers 0307, Department of Economics, University of Victoria.
- 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.
- Blum, U. & Dudley, L., 2001.
"Religion and Economic Growth: Was Weber Right?,"
Cahiers de recherche
2001-05, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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