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Openness and economic growth in developing countries

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  • Erich Gundlach

Abstract

Openness appears to have a strong impact on economic growth especially in DCs, which typically exhibit a high share of physical capital in factor income and a low share of labor. In the neoclassical growth model with partial capital mobility, physical capital's share in factor income determines the difference in the predicted convergence rates for open and closed economies. With a 60 percent share as in developing countries, the convergence rates should differ by a factor of about 2.5. My regression results for a sample of open and closed DCs roughly confirm this hypothesis.

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Bibliographic Info

Article provided by Springer in its journal Weltwirtschaftliches Archiv.

Volume (Year): 133 (1997)
Issue (Month): 3 (September)
Pages: 479-496

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Handle: RePEc:spr:weltar:v:133:y:1997:i:3:p:479-496

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References

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Citations

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Cited by:
  1. Ivan Stoykov, 2005. "Investments and Economic Growth Based on Endogenous Factors," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 30-41.
  2. Vu, K.M., 2013. "A note on interpreting the beta-convergence effect," Economics Letters, Elsevier, vol. 118(1), pages 46-49.
  3. Rousska Dimova, 2002. "Theoretical Issues of Economic Globalization," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 44-66.
  4. Gundlach, Erich, 1997. "Human capital and economic development : a macroeconomic assessment," Open Access Publications from Kiel Institute for the World Economy 1696, Kiel Institute for the World Economy (IfW).
  5. Hossain, A., 2006. "Sources of Economic Growth in Indonesia, 1966-2003," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 6(2).
  6. Thomas Bassetti & Donata Favaro, 2011. "A Growth Model with Gender Inequality in Employment, Human Capital, and Socio-Political Participation," CHILD Working Papers wp14_11, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY.
  7. Nunnenkamp, Peter, 1998. "Boom and bust in capital flows to developing countries: what South Asia can learn from recent financial crises," Kiel Working Papers 853, Kiel Institute for the World Economy.
  8. Nunnenkamp, Peter, 2000. "Boom, bust, recovery - what next in private capital flows to emerging markets?," Kiel Discussion Papers 362, Kiel Institute for the World Economy (IfW).
  9. Raiser, Martin, 1996. "Subsidising inequality: Economic reforms, fiscal transfers and convergence across Chinese provinces," Kiel Working Papers 758, Kiel Institute for the World Economy.
  10. Nunnenkamp, Peter, 1998. "Lateinamerika nach der verlorenen Dekade : eine Zwischenbilanz der Reformen," Kiel Discussion Papers 324, Kiel Institute for the World Economy (IfW).
  11. Kaplan, Muhittin & Aslan, Alper, 2006. "Türki̇ye’Ni̇n Dişa Açilma Oraninin Ölçümü, 1965-1995," MPRA Paper 10603, University Library of Munich, Germany.
  12. Litwin, Carol, 1998. "Trade and Income Distribution in Developing Countries," Working Papers in Economics 9, University of Gothenburg, Department of Economics.

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