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Openness and industrialization in developing countries

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  • Don Clark
  • W. Charles Sawyer
  • Richard Sprinkle

Abstract

This paper investigates the relationship between trade policy orientation and industrialization. Growth rates of manufacturing value added, rather than output growth rates, are related to index of real exchange rate distortion to establish the superiority of outward-oriented strategies in fostering industrial development. Results suggest developing countries will industrialize faster by adopting outward-oriented trade strategies than by using import substitution industrialization policies.

Suggested Citation

  • Don Clark & W. Charles Sawyer & Richard Sprinkle, 1999. "Openness and industrialization in developing countries," Applied Economics Letters, Taylor & Francis Journals, vol. 6(3), pages 161-164.
    • Handle: RePEc:taf:apeclt:v:6:y:1999:i:3:p:161-164
    DOI: 10.1080/135048599353546
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    References listed on IDEAS

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    1. David Greenaway & Chong Hyun Nam, 1988. "Industrialisation and Macroeconomic Performance in Developing Countries under Alternative Trade Strategies," Kyklos, Wiley Blackwell, vol. 41(3), pages 419-435, August.
    2. Balassa, Bela, 1978. "Exports and economic growth : Further evidence," Journal of Development Economics, Elsevier, vol. 5(2), pages 181-189, June.
    3. Clark, Don P. & Kaserman, David L. & Anantanasuwong, Darrarat, 1993. "A diffusion model of industrial sector growth in developing countries," World Development, Elsevier, vol. 21(3), pages 421-428, March.
    4. Otani, Ichiro & Villanueva, Delano, 1990. "Long-term growth in developing countries and its determinants: An empirical analysis," World Development, Elsevier, vol. 18(6), pages 769-783, June.
    5. Dollar, David, 1992. "Outward-Oriented Developing Economies Really Do Grow More Rapidly: Evidence from 95 LDCs, 1976-1985," Economic Development and Cultural Change, University of Chicago Press, vol. 40(3), pages 523-544, April.
    6. repec:bla:kyklos:v:41:y:1988:i:3:p:419-35 is not listed on IDEAS
    7. Ram, Rati, 1985. "Exports and Economic Growth: Some Additional Evidence," Economic Development and Cultural Change, University of Chicago Press, vol. 33(2), pages 415-425, January.
    8. Juergen Donges & James Riedel, 1977. "The expansion of manufactured exports in developing countries: An empirical assessment of s upply and demand issues," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 113(1), pages 58-87, March.
    9. Edwards, Sebastian, 1992. "Trade orientation, distortions and growth in developing countries," Journal of Development Economics, Elsevier, vol. 39(1), pages 31-57, July.
    10. Pritchett, Lant, 1996. "Measuring outward orientation in LDCs: Can it be done?," Journal of Development Economics, Elsevier, vol. 49(2), pages 307-335, May.
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    Cited by:

    1. Enock Mwakalila, 2023. "Income inequality: a recipe for youth unemployment in Africa," SN Business & Economics, Springer, vol. 3(1), pages 1-19, January.
    2. Harrison, Ann E. & Rodriguez-Clare, Andres, 2009. "Trade, Foreign Investment, and Industrial Policy," MPRA Paper 15561, University Library of Munich, Germany.
    3. Harrison, Ann & Rodríguez-Clare, Andrés, 2010. "Trade, Foreign Investment, and Industrial Policy for Developing Countries," Handbook of Development Economics, in: Dani Rodrik & Mark Rosenzweig (ed.), Handbook of Development Economics, edition 1, volume 5, chapter 0, pages 4039-4214, Elsevier.
    4. Gouthami Kothakapa & Samyukta Bhupatiraju & Rahul A. Sirohi, 2021. "Revisiting the link between financial development and industrialization: evidence from low and middle income countries," Annals of Finance, Springer, vol. 17(2), pages 215-230, June.
    5. Dieudonné Mignamissi & Bernard Nguekeng, 2022. "Trade openness-industrialization nexus revisited in Africa," Economic Change and Restructuring, Springer, vol. 55(4), pages 2547-2575, November.

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