Dynamic Empirics of Trade Openness and Economic Growth in Latin America : Do Fast Reformers Grow Faster? | Zendy

Gustavo Barboza | Zendy

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Dynamic Empirics of Trade Openness and Economic Growth in Latin America : Do Fast Reformers Grow Faster?

Author(s) -

Gustavo Barboza

Publication year - 2007

Publication title -

journal of economic development

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.178

H-Index - 3

eISSN - 2636-0578

pISSN - 0254-8372

DOI - 10.35866/caujed.2007.32.2.004

Subject(s) - openness to experience , economics , latin americans , international trade , international economics , political science , law , psychology , social psychology

This study uses a dynamic model to determine the contribution of openness on output growth in Latin America. Error Correction Model and Phillips and Loretan results prove superior to OLS estimates. First, openness growth does not have a straight positive relationship to productivity growth; i.e., it is not clear whether fast reformers grow faster. Second, there are significant variations between the short run and long run estimates under the ECM but not under the Phillips and Loretan specification. Third, lead effects are present and are strong in magnitude.

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