This paper employs a total of thirty four openness factors and indigenous factors to construct two indicators for 62 world economies for the period 1998-2002. While most globalization studies concentrated on openness factors, regression estimates and simulation studies show that sound performance in indigenous factors are crucial to an economy’s growth and globalization. Empirical evidence shows that an optimal performance in indigenous factors can be identified, and that successful globalized economies are equipped with strong performance in their indigenous factors.
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number
2083.
Find related papers by JEL classification: C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
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