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Openness and growth: still an open question?
journal contribution
posted on 2023-06-09, 00:25 authored by L. Alan WintersL. Alan Winters, Andrew MastersWe review recent empirical literature on the relationship between openness and the level of national income or, nearly equivalently, trade liberalisation and economic growth. Recent advances reinforce the presumption of a positive causal link from trade to income, especially by solving endogeneity issues more carefully than heretofore and by allowing for heterogeneity between countries. Heterogeneity suggests that low-income countries may benefit less from trade liberalisation than do other countries, but this is not completely settled. We also argue for analysing policy decisions on trade policy with tools from decision theory rather than those from hypothesis testing. © 2013 Crown copyright. Journal of International Development © 2013 John Wiley & Sons Ltd.
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Publication status
- Published
Journal
International DevelopmentISSN
0954-1748Publisher
John Wiley & SonsExternal DOI
Issue
8Volume
25Page range
1061-1070Department affiliated with
- Economics Publications
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- No
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- Yes
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2016-03-03Usage metrics
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