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A World of Possibilities: Internationalization for Productive Development

In: Rethinking Productive Development

Author

Listed:
  • Gustavo Crespi

    (University of Chile
    Sussex University)

  • Eduardo Fernández-Arias

    (University of California)

  • Ernesto Stein

    (University of California)

Abstract

Openness and diversification can be beneficial for economic growth (Brainard and Cooper, 1968; Frankel and Romer, 1999).1 Openness to trade can foster growth by making it easier to import goods that embody new technology, by reaping economies of scale, and by facilitating the process commonly known as learning by doing through exporting, among other channels (Harrison and Rodríguez-Clare, 2010). Export diversification, in turn, reduces sensitivity to sector-specific shocks. Furthermore, deeper participation in global value chains (GVCs) facilitates access to international flows of knowledge and technology, and thus increases the potential for learning and productivity improvements in local firms.

Suggested Citation

  • Gustavo Crespi & Eduardo Fernández-Arias & Ernesto Stein, 2014. "A World of Possibilities: Internationalization for Productive Development," Palgrave Macmillan Books, in: Gustavo Crespi & Eduardo Fernández-Arias & Ernesto Stein (ed.), Rethinking Productive Development, chapter 8, pages 233-278, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-39399-9_8
    DOI: 10.1057/9781137393999_8
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    Cited by:

    1. Carlo Pietrobelli & Roberta Rabellotti & Ari Van Assche, 2021. "Making sense of global value chain-oriented policies: The trifecta of tasks, linkages, and firms," Journal of International Business Policy, Palgrave Macmillan, vol. 4(3), pages 327-346, September.

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