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Trade Openness and Growth: Who Benefits?

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Author Info

  • Steve Dowrick
  • Jane Golley

Abstract

We investigate the relationship between economic growth and foreign trade, testing whether the benefits of trade vary over time and across countries. Our results confirm previous findings that specialization in primary exports is bad for growth. While trade openness promoted convergence in the 1960s and 1970s, we find that since 1980 the benefits of trade accrued mostly to the richer economies, with little benefit to the less developed economies. Most of the dynamic benefits of trade are obtained through productivity growth, with a small contribution coming through increased investment. Copyright 2004, Oxford University Press.

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Bibliographic Info

Article provided by Oxford University Press in its journal Oxford Review of Economic Policy.

Volume (Year): 20 (2004)
Issue (Month): 1 (Spring)
Pages: 38-56

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Handle: RePEc:oup:oxford:v:20:y:2004:i:1:p:38-56

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Web page: http://oxrep.oupjournals.org/

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Cited by:
  1. Branko Milanovic, 2005. "Global Income Inequality: What It Is And Why It Matters?," HEW 0512001, EconWPA.
  2. Graafland, J.J., 2008. "Market operation and distributive justice: An evaluation of the ACCRA confession," MPRA Paper 20276, University Library of Munich, Germany.
  3. Sambit Bhattacharyya & Steve Dowrick & Jane Golley, 2007. "Institutions and Trade: Competitors or Complements in Economic Development?," DEGIT Conference Papers c012_005, DEGIT, Dynamics, Economic Growth, and International Trade.
  4. Haq, Munshi Masudul, 2008. "Growth and openness: empirical evidence from Bangladesh," MPRA Paper 35732, University Library of Munich, Germany.
  5. Timothy J. Kehoe & Kim J. Ruhl, 2010. "Why have economic reforms in Mexico not generated growth?," Staff Report 453, Federal Reserve Bank of Minneapolis.
  6. Misati, Roseline Nyakerario & Nyamongo, Esman Morekwa, 2012. "Financial liberalization, financial fragility and economic growth in Sub-Saharan Africa," Journal of Financial Stability, Elsevier, vol. 8(3), pages 150-160.
  7. Penélope Pacheco-López & A.P. Thirlwall, 2009. "Has Trade Liberalisation in Poor Countries Delivered the Promises Expected?," Studies in Economics 0911, Department of Economics, University of Kent.
  8. Yilmaz Akyuz, 2005. "Trade, Growth and Industralization: Issues, Experience and Policy Challenges," Working Papers 2005/3, Turkish Economic Association.
  9. Daniel Sakyi & Jose Villaverde & Adolfo Maza & Krishna Reddy Chittedieonardo, 2012. "Trade Openness, Growth and Development: Evidence from Heterogeneous Panel Cointegration Analysis for Middle-Income Countries," REVISTA CUADERNOS DE ECONOMÍA, UN - RCE - CID.
  10. Shahbaz, Muhammad, 2012. "Does trade openness affect long run growth? Cointegration, causality and forecast error variance decomposition tests for Pakistan," Economic Modelling, Elsevier, vol. 29(6), pages 2325-2339.
  11. Boris CHISTRUGA & Rodica CRUDU, 2011. "Economic Disparity and Global Governance Failures – the Most Important Risks in the Coming Decade," Risk in Contemporary Economy, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, pages 18-25.
  12. Dang, D Anh, 2010. "Trade Liberalization and Institutional Quality: Evidence from Vietnam," MPRA Paper 26346, University Library of Munich, Germany, revised 31 Aug 2010.

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