Causality between Openness and Indigenous Factors among World Economies
AbstractThe paper studies the causality relationship between economic openness and indigenous factors. The construction of the Openness Index and the Indigenous Index provides a measure on the extent of openness and indigenous development among world economies. The two indices are used to study their causality. The empirical findings show that there are bi-directional dynamic causality relationships between openness and indigenous factors. Indigenous factors help to forecast openness factors and vice versa.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 36421.
Date of creation: 2010
Date of revision:
Publication status: Published in Investment Management and Financial Innovations 2.7(2010): pp. 159-166
Openness; indigeneity; panel data model; causality test;
Find related papers by JEL classification:
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- F02 - International Economics - - General - - - International Economic Order; Noneconomic International Organizations;; Economic Integration and Globalization: General
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
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