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Openness, Specialization and Growth

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Author Info
Luca De Benedictis

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Abstract

This paper explores the link between trade and growth showing how the relationship between openness and per capita income is contingent to the size and the level of export specialization of countries. Measuring openness both in terms of trade volumes and trade policies, and specialization as a index of the position of the distribution of sectoral revealed comparative advantages, the paper - using parametric and semiparametric panel data analysis - offers a precise taxonomy of the effects of openness on growth according to the size and the specialization of countries. The effect of openness on growth is enhanced by the diversification of sectoral exports characterized by comparative advantages, and is reduced by the physical or economic dimension of the country considered. The effect is however nonmonotonic: an increase in openness is relevant for growth at low levels of openness, specialization is effective only at early stages of development, while is differentiation that enhances growth at higher levels of per capita income.

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File URL: http://www.degit.ifw-kiel.de/papers/degit_11/C011_054.pdf
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Publisher Info
Paper provided by DEGIT, Dynamics, Economic Growth, and International Trade in its series DEGIT Conference Papers with number c011_054.

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Length: 25 pages
Date of creation: Jun 2006
Date of revision:
Handle: RePEc:deg:conpap:c011_054

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Related research
Keywords: International Trade; Specialization; Revealed Comparative Advantage; Openness; Semiparametric Panel data; Cross-country regression;

Find related papers by JEL classification:
C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Semiparametric and Nonparametric Methods
F10 - International Economics - - Trade - - - General
F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries

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References listed on IDEAS
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  1. Jean Imbs & Romain Wacziarg, 2003. "Stages of Diversification," American Economic Review, American Economic Association, vol. 93(1), pages 63-86, March. [Downloadable!]
    Other versions:
  2. Adonis Yatchew, 1998. "Nonparametric Regression Techniques in Economics," Journal of Economic Literature, American Economic Association, vol. 36(2), pages 669-721, June. [Downloadable!] (restricted)
  3. Sebnem Kalemli-Ozcan & Bent E. Sørensen & Oved Yosha, 2003. "Risk Sharing and Industrial Specialization: Regional and International Evidence," American Economic Review, American Economic Association, vol. 93(3), pages 903-918, June. [Downloadable!]
    Other versions:
  4. Saint-Paul, Gilles, 1992. "Technological choice, financial markets and economic development," European Economic Review, Elsevier, vol. 36(4), pages 763-781, May. [Downloadable!] (restricted)
    Other versions:
  5. repec:att:wimass:199419r is not listed on IDEAS
  6. Fujita, Masahisa & Thisse, Jacques-François, 1996. "Economics of Agglomeration," CEPR Discussion Papers 1344, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  7. John DiNardo & Justin L. Tobias, 2001. "Nonparametric Density and Regression Estimation," Journal of Economic Perspectives, American Economic Association, vol. 15(4), pages 11-28, Fall. [Downloadable!] (restricted)
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  8. Miklos Koren & Silvana Tenreyro, 2003. "Diversification and development," Working Papers 03-3, Federal Reserve Bank of Boston. [Downloadable!]
  9. Acemoglu, Daron & Zilibotti, Fabrizio, 1997. "Was Prometheus Unbound by Chance? Risk, Diversification, and Growth," Journal of Political Economy, University of Chicago Press, vol. 105(4), pages 709-51, August.
    Other versions:
  10. Barro, Robert J. & Lee, Jong-Wha, 1994. "Sources of economic growth," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 40(1), pages 1-46, June. [Downloadable!] (restricted)
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