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Ouverture sur l'extérieur et instabilité des taux de croissance

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Author Info

  • Jean-Louis COMBES

    ()
    (Centre d'Etudes et de Recherches sur le Développement International)

  • Patrick GUILLAUMONT

    ()
    (Centre d'Etudes et de Recherches sur le Développement International)

  • Sylviane GUILLAUMONT JEANNENEY

    ()
    (Centre d'Etudes et de Recherches sur le Développement International)

  • Pascale COMBES MOTEL

    ()
    (Centre d'Etudes et de Recherches sur le Développement International)

Abstract

This paper considers the effects of a more or less trade and capital openness on the instability of the growth rate. Indicators of outward looking policies are estimated by eliminating the impact of structural factors through a standardization equation. Then indicators of growth instability are estimated. Open trade policies are assumed to be stabilizing because they improve the working of markets. But open financial policies, when the financial system is underdeveloped, may increase instability due to speculative capital flows. Econometric analysis relying on a large sample of developed and developing countries for three periods beginning in 1970 allows to not reject these assumptions.

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File URL: http://publi.cerdi.org/ed/1999/1999.27.pdf
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Bibliographic Info

Paper provided by CERDI in its series Working Papers with number 199927.

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Length: 29
Date of creation: 1999
Date of revision:
Publication status: Published in Revue Française d'économie, Hiver 2000, pages 3-33
Handle: RePEc:cdi:wpaper:126

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Related research

Keywords: stratégies de développement.; ouverture économique; instabilité macro-économique; instabilité de la croissance; mondialisation;

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Cited by:
  1. Jean-Louis Combes & Tahsin Saadi-Sedik, 2006. "How does trade openness influence budget deficits in developing countries?," Journal of Development Studies, Taylor & Francis Journals, vol. 42(8), pages 1401-1416.
  2. Chauvet, Lisa & Guillaumont, Patrick, 2009. "Aid, volatility, and growth again : when aid volatility matters and when it does not," Economics Papers from University Paris Dauphine 123456789/5400, Paris Dauphine University.
  3. Chauvet, Lisa, 2003. "Socio-political instability and the allocation of international aid by donors," European Journal of Political Economy, Elsevier, vol. 19(1), pages 33-59, March.
  4. Patrick GUILLAUMONT & Jean-Louis COMBES, 2000. "Volatilité des prix des produits primaires, vulnérabilité et développement," Working Papers 200014, CERDI.
  5. Joël CARIOLLE, 2012. "Measuring macroeconomic volatility - Applications to export revenue data, 1970-2005," Working Papers I14, FERDI.
  6. Diallo, Ibrahima Amadou, 2012. "The effects of real exchange rate volatility on productivity growth," MPRA Paper 36171, University Library of Munich, Germany.
  7. Guillaumont, Patrick, 2008. "An Economic Vulnerability Index: Its Design and Use for International Development Policy," Working Paper Series RP2008/99, World Institute for Development Economic Research (UNU-WIDER).
  8. Joël CARIOLLE, 2012. "Mesurer l’instabilité macroéconomique - Applications aux données de recettes d’exportation, 1970-2005," Working Papers I14, FERDI.

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