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On the impact of trade openness on growth: further evidence from OECD countries

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  • Atul Dar
  • Sal Amirkhalkhali
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    Abstract

    This study attempts to examine empirically the implications of the degree of openness for total and individual factor productivity growth in a group of 19 OECD countries over the last three decades. The study combines both time series and cross-sectional data. The model employed is a generalization of the commonly used, growth-accounting model based on the concept of an aggregate production function in which the rate of economic growth is a function of capital and labour accumulation and total factor productivity. It is explicitly assumed that total factor productivity depends, in turn, upon the rate of export expansion. The model is then estimated using the random coefficients approach. While results generally indicate that the relative importance of trade openness on economic growth varies significantly across countries, they also indicate that the role of capital and labour accumulation in fostering economic growth varies with the degree of openness, cross-sectionally as well as across time.

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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Applied Economics.

    Volume (Year): 35 (2003)
    Issue (Month): 16 ()
    Pages: 1761-1766

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    Handle: RePEc:taf:applec:v:35:y:2003:i:16:p:1761-1766

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    1. Pratt, John W. & Schlaifer, Robert, 1988. "On the interpretation and observation of laws," Journal of Econometrics, Elsevier, vol. 39(1-2), pages 23-52.
    2. Alam, M Shahid, 1991. "Trade Orientation and Macroeconomic Performance in LDCs: An Empirical Study," Economic Development and Cultural Change, University of Chicago Press, vol. 39(4), pages 839-48, July.
    3. Evans, David, 1989. "Alternative perspectives on trade and development," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 2, chapter 24, pages 1241-1304 Elsevier.
    4. Jeffrey A. Frankel & David Romer, 1996. "Trade and Growth: An Empirical Investigation," NBER Working Papers 5476, National Bureau of Economic Research, Inc.
    5. Swamy, P A V B, 1970. "Efficient Inference in a Random Coefficient Regression Model," Econometrica, Econometric Society, vol. 38(2), pages 311-23, March.
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    Cited by:
    1. Abo-Zaid Salem M, 2011. "The Trade-Growth Relationship in Israel Revisited: Evidence from Annual Data, 1960-2004," Review of Middle East Economics and Finance, De Gruyter, vol. 6(3), pages 63-93, February.
    2. Narayan, Seema & Narayan, Paresh Kumar & Mishra, Sagarika, 2010. "Investigating the relationship between health and economic growth: Empirical evidence from a panel of 5 Asian countries," Journal of Asian Economics, Elsevier, vol. 21(4), pages 404-411, August.
    3. Awad. T., 2012. "Trade Liberalization Policy And Growth By Sector: Is It Working For Jordan?," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, vol. 12(2).
    4. Harrison, Ann & Rodríguez-Clare, Andrés, 2010. "Trade, Foreign Investment, and Industrial Policy for Developing Countries," Handbook of Development Economics, Elsevier.
    5. Sohrab Abizadeh & Manish Pandey & Mehmet Serkan Tosun, 2007. "Impact of Trade on Productivity of Skilled and Unskilled Intensive Industries: A Cross-Country Investigation," Working Papers 07-007, University of Nevada, Reno, Department of Economics & University of Nevada, Reno , Department of Resource Economics.
    6. Nappo, Alessandra Francesca, 2011. "The environment in the dynamics and interactions between economic growth and openness to international trade," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114631, European Association of Agricultural Economists.
    7. 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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