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Initial conditions and the outcome of economic reform

Author

Listed:
  • Kaltani, Linda
  • Loayza, Norman V.

Abstract

This paper studies how initial conditions affect the outcome of reform using the case of trade liberalization as an example. The paper illustrates empirically and theoretically the seemingly paradoxical case of larger impact of reform when initial conditions are poorer.

Suggested Citation

  • Kaltani, Linda & Loayza, Norman V., 2008. "Initial conditions and the outcome of economic reform," Economics Letters, Elsevier, vol. 101(3), pages 230-233, December.
    • Handle: RePEc:eee:ecolet:v:101:y:2008:i:3:p:230-233
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    References listed on IDEAS

    as
    1. Romain Wacziarg & Karen Horn Welch, 2008. "Trade Liberalization and Growth: New Evidence," The World Bank Economic Review, World Bank, vol. 22(2), pages 187-231, June.
    2. repec:wbk:wbpubs:12426 is not listed on IDEAS
    3. Abel, Andrew B & Blanchard, Olivier J, 1983. "An Intertemporal Model of Saving and Investment," Econometrica, Econometric Society, vol. 51(3), pages 675-692, May.
    4. repec:wbk:wbpubs:12425 is not listed on IDEAS
    5. Calderon, Cesar & Loayza, Norman & Schmidt-Hebbel, Klaus, 2005. "Does openness imply greater exposure ?," Policy Research Working Paper Series 3733, The World Bank.
    6. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
    7. Martin Rama, 2002. "Globalization and Workers in Developing Countries," Economics Study Area Working Papers 41, East-West Center, Economics Study Area.
    8. Joshua Aizenman, 2005. "Financial Liberalisations in Latin America in the 1990s: A Reassessment," The World Economy, Wiley Blackwell, vol. 28(7), pages 959-983, July.
    Full references (including those not matched with items on IDEAS)

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