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Openness and economic growth in developing countries

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  • Gundlach, Erich

Abstract

Openness appears to have a strong impact on economic growth especially in DCs, which typically exhibit a high share of physical capital in factor income and a low share of labor. In the neoclassical growth model with partial capital mobility, physical capital's share in factor income determines the difference in the predicted convergence rates for open and closed economies. With a 60 percent share as in developing countries, the convergence rates should differ by a factor of about 2.5. My regression results for a sample of open and closed DCs roughly confirm this hypothesis.

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Paper provided by Kiel Institute for the World Economy in its series Kiel Working Papers with number 749.

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Date of creation: 1996
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Handle: RePEc:kie:kieliw:749

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Cited by:
  1. Rousska Dimova, 2002. "Theoretical Issues of Economic Globalization," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 44-66.
  2. Thomas Bassetti & Donata Favaro, 2011. "A Growth Model with Gender Inequality in Employment, Human Capital, and Socio-Political Participation," CHILD Working Papers, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY wp14_11, CHILD - Centre for Household, Income, Labour and Demographic economics - ITALY.
  3. Vu, K.M., 2013. "A note on interpreting the beta-convergence effect," Economics Letters, Elsevier, Elsevier, vol. 118(1), pages 46-49.
  4. Gundlach, Erich, 1997. "Human capital and economic development : a macroeconomic assessment," Open Access Publications from Kiel Institute for the World Economy, Kiel Institute for the World Economy (IfW) 1696, Kiel Institute for the World Economy (IfW).
  5. Ivan Stoykov, 2005. "Investments and Economic Growth Based on Endogenous Factors," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 30-41.
  6. Nunnenkamp, Peter, 1998. "Lateinamerika nach der verlorenen Dekade : eine Zwischenbilanz der Reformen," Kiel Discussion Papers 324, Kiel Institute for the World Economy (IfW).
  7. Nunnenkamp, Peter, 1998. "Boom and bust in capital flows to developing countries: what South Asia can learn from recent financial crises," Kiel Working Papers 853, Kiel Institute for the World Economy.
  8. Nunnenkamp, Peter, 2000. "Boom, bust, recovery - what next in private capital flows to emerging markets?," Kiel Discussion Papers 362, Kiel Institute for the World Economy (IfW).
  9. Litwin, Carol, 1998. "Trade and Income Distribution in Developing Countries," Working Papers in Economics, University of Gothenburg, Department of Economics 9, University of Gothenburg, Department of Economics.
  10. Kaplan, Muhittin & Aslan, Alper, 2006. "Türki̇ye’Ni̇n Dişa Açilma Oraninin Ölçümü, 1965-1995," MPRA Paper 10603, University Library of Munich, Germany.
  11. Hossain, A., 2006. "Sources of Economic Growth in Indonesia, 1966-2003," Applied Econometrics and International Development, Euro-American Association of Economic Development, Euro-American Association of Economic Development, vol. 6(2).
  12. Raiser, Martin, 1996. "Subsidising inequality: Economic reforms, fiscal transfers and convergence across Chinese provinces," Kiel Working Papers 758, Kiel Institute for the World Economy.

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