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Openness, Specialization and Growth

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  • Luca De Benedictis

Abstract

This paper explores the link between trade and growth showing how the relationship between openness and per capita income is contingent to the size and the level of export specialization of countries. Measuring openness both in terms of trade volumes and trade policies, and specialization as a index of the position of the distribution of sectoral revealed comparative advantages, the paper - using parametric and semiparametric panel data analysis - offers a precise taxonomy of the effects of openness on growth according to the size and the specialization of countries. The effect of openness on growth is enhanced by the diversification of sectoral exports characterized by comparative advantages, and is reduced by the physical or economic dimension of the country considered. The effect is however nonmonotonic: an increase in openness is relevant for growth at low levels of openness, specialization is effective only at early stages of development, while is differentiation that enhances growth at higher levels of per capita income.

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Bibliographic Info

Paper provided by DEGIT, Dynamics, Economic Growth, and International Trade in its series DEGIT Conference Papers with number c011_054.

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Length: 25 pages
Date of creation: Jun 2006
Date of revision:
Handle: RePEc:deg:conpap:c011_054

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Related research

Keywords: International Trade; Specialization; Revealed Comparative Advantage; Openness; Semiparametric Panel data; Cross-country regression;

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  1. John DiNardo & Justin L. Tobias, 2001. "Nonparametric Density and Regression Estimation," Journal of Economic Perspectives, American Economic Association, vol. 15(4), pages 11-28, Fall.
  2. Jean Imbs & Romain Wacziarg, 2003. "Stages of Diversification," American Economic Review, American Economic Association, vol. 93(1), pages 63-86, March.
  3. Sebnem Kalemli-Ozcan & Bent E. Sørensen & Oved Yosha, 2003. "Risk Sharing and Industrial Specialization: Regional and International Evidence," American Economic Review, American Economic Association, vol. 93(3), pages 903-918, June.
  4. Acemoglu, Daron & Zilibotti, Fabrizio, 1996. "Was Prometheus Unbound by Chance? Risk, Diversification and Growth," CEPR Discussion Papers 1426, C.E.P.R. Discussion Papers.
  5. Saint-Paul, Gilles, 1992. "Technological choice, financial markets and economic development," European Economic Review, Elsevier, vol. 36(4), pages 763-781, May.
  6. Fujita,Masahisa & Thisse,Jacques-François, 2013. "Economics of Agglomeration," Cambridge Books, Cambridge University Press, number 9780521171960, October.
  7. Adonis Yatchew, 1998. "Nonparametric Regression Techniques in Economics," Journal of Economic Literature, American Economic Association, vol. 36(2), pages 669-721, June.
  8. Durlauf, S.M. & Johnson, P.A., 1995. "Multiple Regimes and Cross-Country Growth Behavior," Working papers 9419r, Wisconsin Madison - Social Systems.
  9. Barro, Robert J. & Lee, Jong-Wha, 1994. "Sources of economic growth," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 40(1), pages 1-46, June.
  10. Miklos Koren & Silvana Tenreyro, 2003. "Diversification and development," Working Papers 03-3, Federal Reserve Bank of Boston.
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