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Once Again, is Openness Good for Growth?

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Author Info
Ha Yan Lee
Luca Antonio Ricci
Roberto Rigobon

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Abstract

Rodriguez and Rodrik (2000) argue that the relation between openness and growth is still an open question. One of the main problems in the assessment of the effect is the endogeneity of the relation. In order to address this issue, this paper applies the identification through heteroskedasticity methodology to estimate the effect of openness on growth while properly controlling for the effect of growth on openness. The results suggest that openness would have a positive effect on growth, although small. This result stands, despite the equally robust effect from growth to openness.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 10749.

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Date of creation: Sep 2004
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Handle: RePEc:nbr:nberwo:10749

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Find related papers by JEL classification:
F10 - International Economics - - Trade - - - General
F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data

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  1. Francisco Rodriguez & Dani Rodrik, 1999. "Trade Policy and Economic Growth: A Skeptic's Guide to the Cross-national Evidence," Electronic Working Papers 99-003, University of Maryland, Department of Economics. [Downloadable!]
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  2. David E. Weinstein & Christian Broda, 2004. "Globalization And The Gains From Variety," Econometric Society 2004 Latin American Meetings 327, Econometric Society. [Downloadable!]
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  3. Martin D. D. Evans & Richard K. Lyons, 2003. "How is Macro News Transmitted to Exchange Rates?," NBER Working Papers 9433, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  4. Dollar, David & Kraay, Aart, 2003. "Institutions, trade, and growth," Journal of Monetary Economics, Elsevier, vol. 50(1), pages 133-162, January. [Downloadable!] (restricted)
  5. Rigobon, Roberto & Sack, Brian, 2004. "The impact of monetary policy on asset prices," Journal of Monetary Economics, Elsevier, vol. 51(8), pages 1553-1575, November. [Downloadable!] (restricted)
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  6. Roberto Rigobon & Dani Rodrik, 2004. "Rule of Law, Democracy, Openness, and Income: Estimating the Interrelationships," NBER Working Papers 10750, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  7. Caporale, Guglielmo Maria & Cipollini, Andrea & Demetriades, Panicos O., 2005. "Monetary policy and the exchange rate during the Asian crisis: identification through heteroscedasticity," Journal of International Money and Finance, Elsevier, vol. 24(1), pages 39-53, February. [Downloadable!] (restricted)
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  8. Ketil Hviding & M. Nowak & Luca Antonio Ricci, 2004. "Can Higher Reserves Help Reduce Exchange Rate Volatility?," IMF Working Papers 04/189, International Monetary Fund. [Downloadable!]
  9. Jeffrey A. Frankel & David Romer, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June. [Downloadable!] (restricted)
  10. Edwards, Sebastian, 1992. "Trade orientation, distortions and growth in developing countries," Journal of Development Economics, Elsevier, vol. 39(1), pages 31-57, July. [Downloadable!] (restricted)
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  11. James H. Stock & Francesco Trebbi, 2003. "Who Invented Instrumental Variable Regression?," Journal of Economic Perspectives, American Economic Association, vol. 17(3), pages 177-194, Summer. [Downloadable!] (restricted)
  12. Caporale, Guglielmo Maria & Cipollini, Andrea & Spagnolo, Nicola, 2005. "Testing for contagion: a conditional correlation analysis," Journal of Empirical Finance, Elsevier, vol. 12(3), pages 476-489, June. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Kalwij, Adriaan & Verschoor, Arjan, 2005. "A Decomposition of Poverty Trends across Regions: The Role of Variation in the Income and Inequality Elasticities of Poverty," Working Papers RP2005/36, World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
  2. Bergh, Andreas & Nilsson, Therese, 2009. "Good for living? On the relation between globalization and life expectancy," Ratio Working Papers 136, The Ratio Institute. [Downloadable!]
  3. Hildegunn Ekroll Stokke, 2005. "Productivity Growth in Backward Economies and the Role of Barriers to Technology Adoption," Working Paper Series 4905, Department of Economics, Norwegian University of Science and Technology. [Downloadable!]
  4. Sambit Bhattacharyya & Steve Dowrick & Jane Golley, 2008. "Institutions And Trade: Competitors Or Complements In Economic Development?," Departmental Working Papers 2008-12, Australian National University, Economics RSPAS. [Downloadable!]
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  5. Wong Tsen, 2006. "Granger causality tests among openness to international trade, human capital accumulation and economic growth in China: 1952--1999," International Economic Journal, Korean International Economic Association, vol. 20(3), pages 285-302, September. [Downloadable!] (restricted)
  6. Brigitte Desroches & Michael Francis, 2006. "Institutional Quality, Trade, and the Changing Distribution of World Income," Working Papers 06-19, Bank of Canada. [Downloadable!]
  7. Sarah M. Lein-Rupprecht & Miguel A. León-Ledesma & Carolin Nerlich, 2007. "How is real convergence driving nominal convergence in the new EU Member States?," Working Paper Series 827, European Central Bank. [Downloadable!]
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  8. Torfinn Harding and Jørn Rattsø, 2005. "The barrier model of productivity growth: South Africa," Discussion Papers 425, Research Department of Statistics Norway. [Downloadable!]
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  9. Ann Harrison, 2006. "Globalization and Poverty," NBER Working Papers 12347, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. Andreas Billmeier & Tommaso Nannicini, 2007. "Trade Openness and Growth: Pursuing Empirical Glasnost," IMF Working Papers 07/156, International Monetary Fund. [Downloadable!]
    Other versions:
  11. Bergh, Andreas & Nilsson, Therese, 2009. "Good for living? On the relation between globalization and life expectancy," Working Papers 2009:9, Lund University, Department of Economics. [Downloadable!]
  12. Calderon, Cesar & Loayza, Norman & Schmidt-Hebbel, Klaus, 2005. "Does openness imply greater exposure ?," Policy Research Working Paper Series 3733, The World Bank. [Downloadable!]
  13. César Calderón & Norman V. Loayza & Klaus Schmidt-Hebbel, 2008. "Does Openness Imply Greater Vulnerability?," Working Papers Central Bank of Chile 485, Central Bank of Chile. [Downloadable!]
  14. Vatcharin Sirimaneetham, 2006. "What drives liberal policies in developing countries?," Bristol Economics Discussion Papers 06/587, Department of Economics, University of Bristol, UK. [Downloadable!]
  15. Bhaskara Rao & Maheshwar Rao, 2005. "Determinants Of Growth Rate: Some Methodological Issues With Data From Fiji," Macroeconomics 0509003, EconWPA. [Downloadable!]
  16. Fosu, Augustin Kwasi & Mold, Andrew, 2007. "Gains from Trade: Implications for Labour Market Adjustment and Poverty Reduction in Africa," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
  17. Claudia M. Buch & Farid Toubal, 2007. "Openness and Growth: The Long Shadow of the Berlin Wall," IAW Discussion Papers 31, Institut für Angewandte Wirtschaftsforschung (IAW). [Downloadable!]
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  18. Jayanthakumaran, Kankesu & Pahlavani, Mosayeb, 2006. "Structural Breaks in Trade and Income Per Capita in ASEAN-5 Countries: An Application of Innovational Outlier Models," Economics Working Papers wp06-12, School of Economics, University of Wollongong, NSW, Australia. [Downloadable!]
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