International Evidence on Convergence and Openness
In this paper we examine for both economic convergence and openness convergence across the global economy and within specific regions. We find that convergence in openness is much more profound than income convergence. Moreover, convergence within regions takes place faster than convergence across the globe. We then examine for the effects of trade openness on income convergence. We use both trade openness indicators based on actual trade volumes as well as indices that rank countries according to trade policy openness. Finally, we consider the effects of such indices on openness convergence. We discuss our results in the context of the regionalism versus globalization debate.
References listed on IDEAS
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- Kleinknecht, Alfred & ter Wengel, Jan, 1998. "The Myth of Economic Globalisation," Cambridge Journal of Economics, Oxford University Press, vol. 22(5), pages 637-647, September.
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- Wilfred J. Ethier, 1998. "Regionalism in a Multilateral World," Journal of Political Economy, University of Chicago Press, vol. 106(6), pages 1214-1245, December.
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- Krueger, Anne O, 1998. "Why Trade Liberalisation Is Good for Growth," Economic Journal, Royal Economic Society, vol. 108(450), pages 1513-1522, September.
- Dan Ben-David, 1993. "Equalizing Exchange: Trade Liberalization and Income Convergence," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 653-679. Full references (including those not matched with items on IDEAS)
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