Ouverture sur l'extérieur et instabilité des taux de croissance
AbstractThis 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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Bibliographic InfoPaper provided by CERDI in its series Working Papers with number 199927.
Date of creation: 1999
Date of revision:
Publication status: Published in Revue Française d'économie, Hiver 2000, pages 3-33
stratégies de développement.; ouverture économique; instabilité macro-économique; instabilité de la croissance; mondialisation;
Other versions of this item:
- P. Guillaumont & J.-L Combes & S. Guillaumont Jeanneney & P. Motel Combes, 2000. "Ouverture sur l'extérieur et instabilité des taux de croissance," Revue Française d'Économie, Programme National Persée, vol. 15(1), pages 3-33.
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- Jean-Louis Combes & Tahsin Saadi-Sedik, 2006.
"How Does Trade Openness Influence Budget Deficits in Developing Countries?,"
IMF Working Papers
06/3, International Monetary Fund.
- 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.
- 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).
- Patrick GUILLAUMONT & Jean-Louis COMBES, 2000. "Volatilité des prix des produits primaires, vulnérabilité et développement," Working Papers 200014, CERDI.
- Diallo, Ibrahima Amadou, 2012. "The effects of real exchange rate volatility on productivity growth," MPRA Paper 36171, University Library of Munich, Germany.
- 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.
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