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Institutions And Trade: Competitors Or Complements In Economic Development?

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Author Info
Sambit Bhattacharyya
Steve Dowrick
Jane Golley

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Abstract

In this paper we contribute to the debate over the empirical relationship between trade openness and economic development. Unlike previous studies which treat trade openness and institutions as competitors in economic development, we find evidence that they are in fact complements. We also find that in order for a country to benefit from trade, its institutional quality has to be above a threshold level. These results are suggestive of a very important complementary role of both trade openness and institutions in economic development.

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Paper provided by Australian National University, Economics RSPAS in its series Departmental Working Papers with number 2008-12.

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Length: 31 pages
Date of creation: 2008
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Handle: RePEc:pas:papers:2008-12

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Related research
Keywords: Trade; Institutions; Economic Development;

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Find related papers by JEL classification:
F1 - International Economics - - Trade
O1 - Economic Development, Technological Change, and Growth - - Economic Development

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