Ouverture sur l'extérieur et instabilité des taux de croissance
This paper considers the effects of a more or less trade and capital openness on the instability of the growth rate. Indicators of outward looking policies are estimated by eliminating the impact of structural factors through a standardization equation. Then indicators of growth instability are estimated. Open trade policies are assumed to be stabilizing because they improve the working of markets. But open financial policies, when the financial system is underdeveloped, may increase instability due to speculative capital flows. Econometric analysis relying on a large sample of developed and developing countries for three periods beginning in 1970 allows to not reject these assumptions.
|Date of creation:||1999|
|Date of revision:|
|Publication status:||Published in Revue Française d'économie, Hiver 2000, pages 3-33|
|Contact details of provider:|| Postal: 65 Bd. F. Mitterrand, 63000 Clermont-Ferrand|
Phone: (33-4) 73 17 74 00
Fax: (33-4) 73 17 74 28
Web page: http://cerdi.org/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:cdi:wpaper:126. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Vincent Mazenod)
If references are entirely missing, you can add them using this form.