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Initial conditions and the outcome of economic reform

Author

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  • Kaltani, Linda
  • Loayza, Norman V.

Abstract

This paper studies how initial conditions affect the outcome of reform using the case of trade liberalization as an example. The paper illustrates empirically and theoretically the seemingly paradoxical case of larger impact of reform when initial conditions are poorer.

Suggested Citation

  • Kaltani, Linda & Loayza, Norman V., 2008. "Initial conditions and the outcome of economic reform," Economics Letters, Elsevier, vol. 101(3), pages 230-233, December.
    • Handle: RePEc:eee:ecolet:v:101:y:2008:i:3:p:230-233
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    References listed on IDEAS

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    1. Romain Wacziarg & Karen Horn Welch, 2008. "Trade Liberalization and Growth: New Evidence," The World Bank Economic Review, World Bank, vol. 22(2), pages 187-231, June.
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    3. Abel, Andrew B & Blanchard, Olivier J, 1983. "An Intertemporal Model of Saving and Investment," Econometrica, Econometric Society, vol. 51(3), pages 675-692, May.
    4. World Bank, 2005. "World Development Indicators 2005," World Bank Publications - Books, The World Bank Group, number 12426.
    5. World Bank, 2005. "World Development Indicators 2005," World Bank Publications - Books, The World Bank Group, number 12425.
    6. Calderon, Cesar & Loayza, Norman & Schmidt-Hebbel, Klaus, 2005. "Does openness imply greater exposure ?," Policy Research Working Paper Series 3733, The World Bank.
    7. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
    8. Martin Rama, 2002. "Globalization and Workers in Developing Countries," Economics Study Area Working Papers 41, East-West Center, Economics Study Area.
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