Journal
JOURNAL OF ECONOMIC ISSUES
Volume 42, Issue 3, Pages 763-785Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/00213624.2008.11507178
Keywords
growth; opening tip; liberalization; less developed countries and globalization
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The present study examines the relationship between openness (trade-GDP ratio) and growth. Our cross-country panel data analysis of a sample 51 less developed countries shows that for only 11 rich and highly trade-dependent Countries a higher real growth is associated with a higher trade share. Time series Study of individual country experiences shows that the majority Of the Countries covered in the sample including the East Asian Countries experienced 110 positive long-term relationship between openness and growth during the 1961-2002 time period. Our study of the experience of various regions and groups shows that only the Middle Income group exhibited a positive long-term relationship.
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