Economic Growth in Developing Countries: Is Landlockedness Destiny?
This paper examines the determinants of economic growth in developing countries within the standard growth regression framework, with special attention being paid to the experience of landlocked countries. The results confirm the findings of previous studies that landlockedness hampers economic growth, but the magnitude of negative impact is sensitive to alternative estimation methods. However, the analysis suggests that good governance, trade-openness, and coordinating infrastructure development with neighbours explain the significant aspect of the inter-country differences in growth rates among landlocked developing countries (LLDCs). The results also suggest that African landlocked are not different from the other LLDCs. Contrary to the 'resource-curse' hypothesis, natural resources seem to contribute to economic growth of LLDCs.
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