Effects of trade openness on the steady-state growth rates of selected Asian countries with an extended exogenous growth model
AbstractThe Solow (1956) growth model is extended with an endogenous growth framework to estimate the effects of trade openness on the Steady State Growth Rate (SSGR). Estimates of the augmented production functions are used to compute the SSGRs for Singapore, Malaysia, Hong Kong, India and Thailand. Good policies that increase the growth effects of openness is also tested with an interactive term. Our results show that Singapore has the highest SSGR of 2.75%, followed by Hong Kong and Thailand with 2.5%. India and Malaysia have lower SSGRs of 1.7% and 0.5%, respectively.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Economics.
Volume (Year): 42 (2010)
Issue (Month): 29 ()
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Other versions of this item:
- Rao, B. Bhaskara & Singh, Rup, 2007. "Effects of Trade Openness on the Steady State Growth Rates of Selected Asian Countries with an Extended Exogenous Growth Model," MPRA Paper 5851, University Library of Munich, Germany.
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
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