Growth Before And After Trade Liberalization:
The empirical study of the impact of trade liberalization has not convinced the skeptics about the economic gains after trade reforms. Some have even argued that trade reforms have led to economic collapse and to deindustrialization. Using a sample that excludes countries that were subject to major...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
2006
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| Online-Zugang: | BSB01 EUV01 HTW01 FHI01 IOS01 Volltext |
| Zusammenfassung: | The empirical study of the impact of trade liberalization has not convinced the skeptics about the economic gains after trade reforms. Some have even argued that trade reforms have led to economic collapse and to deindustrialization. Using a sample that excludes countries that were subject to major exogenous disruptions, the authors note that post-reform economic growth was 1.2 percentage points higher than before the reforms. This is remarkable considering that pre-reform periods were characterized by highly expansionary state policies and large external borrowing, and the crisis years that preceded trade liberalization in the comparisons are eliminated. Through multivariate fixed effects estimations the authors calculate that annual per capita GDP growth rates increased by up to 2.6 percentage points after the trade reforms, compared to a counterfactual that takes into consideration the evolution of several growth determinants. Moreover, trade liberalization has been followed by an acceleration of growth in investment, exports of goods and services, and manufacturing exports, and as opposed to common belief, outward orientation did not lead to significant deindustrialization and actually seems to have increased export diversification. Growth acceleration occurred irrespective of income per capita level and was quite significant in Sub-Saharan Africa. As expected, small countries benefited most from the reforms |
| Beschreibung: | 1 Online-Ressource (50 Seiten)) |
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| 520 | 3 | |a The empirical study of the impact of trade liberalization has not convinced the skeptics about the economic gains after trade reforms. Some have even argued that trade reforms have led to economic collapse and to deindustrialization. Using a sample that excludes countries that were subject to major exogenous disruptions, the authors note that post-reform economic growth was 1.2 percentage points higher than before the reforms. This is remarkable considering that pre-reform periods were characterized by highly expansionary state policies and large external borrowing, and the crisis years that preceded trade liberalization in the comparisons are eliminated. Through multivariate fixed effects estimations the authors calculate that annual per capita GDP growth rates increased by up to 2.6 percentage points after the trade reforms, compared to a counterfactual that takes into consideration the evolution of several growth determinants. Moreover, trade liberalization has been followed by an acceleration of growth in investment, exports of goods and services, and manufacturing exports, and as opposed to common belief, outward orientation did not lead to significant deindustrialization and actually seems to have increased export diversification. Growth acceleration occurred irrespective of income per capita level and was quite significant in Sub-Saharan Africa. As expected, small countries benefited most from the reforms | |
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| spelling | Salinas, Gonzalo Verfasser aut Growth Before And After Trade Liberalization Salinas, Gonzalo Washington, D.C The World Bank 2006 1 Online-Ressource (50 Seiten)) txt rdacontent c rdamedia cr rdacarrier The empirical study of the impact of trade liberalization has not convinced the skeptics about the economic gains after trade reforms. Some have even argued that trade reforms have led to economic collapse and to deindustrialization. Using a sample that excludes countries that were subject to major exogenous disruptions, the authors note that post-reform economic growth was 1.2 percentage points higher than before the reforms. This is remarkable considering that pre-reform periods were characterized by highly expansionary state policies and large external borrowing, and the crisis years that preceded trade liberalization in the comparisons are eliminated. Through multivariate fixed effects estimations the authors calculate that annual per capita GDP growth rates increased by up to 2.6 percentage points after the trade reforms, compared to a counterfactual that takes into consideration the evolution of several growth determinants. Moreover, trade liberalization has been followed by an acceleration of growth in investment, exports of goods and services, and manufacturing exports, and as opposed to common belief, outward orientation did not lead to significant deindustrialization and actually seems to have increased export diversification. Growth acceleration occurred irrespective of income per capita level and was quite significant in Sub-Saharan Africa. As expected, small countries benefited most from the reforms Online-Ausg Currencies and Exchange Rates Development Economic Conditions and Volatility Economic Growth Economic Indicators Economic Performance Economic Theory and Research Emerging Markets Exchange Exports Finance and Financial Sector Development Free Trade GDP GDP Per Capita Goods Income International Economics & Trade Investment Law and Development Macroeconomics and Economic Growth Poverty Reduction Private Sector Development Pro-Poor Growth Protectionism Theory Trade Law Aksoy, Ataman Sonstige oth Salinas, Gonzalo Sonstige oth Salinas, Gonzalo Growth Before And After Trade Liberalization http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4062 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Salinas, Gonzalo Growth Before And After Trade Liberalization Currencies and Exchange Rates Development Economic Conditions and Volatility Economic Growth Economic Indicators Economic Performance Economic Theory and Research Emerging Markets Exchange Exports Finance and Financial Sector Development Free Trade GDP GDP Per Capita Goods Income International Economics & Trade Investment Law and Development Macroeconomics and Economic Growth Poverty Reduction Private Sector Development Pro-Poor Growth Protectionism Theory Trade Law |
| title | Growth Before And After Trade Liberalization |
| title_auth | Growth Before And After Trade Liberalization |
| title_exact_search | Growth Before And After Trade Liberalization |
| title_exact_search_txtP | Growth Before And After Trade Liberalization |
| title_full | Growth Before And After Trade Liberalization Salinas, Gonzalo |
| title_fullStr | Growth Before And After Trade Liberalization Salinas, Gonzalo |
| title_full_unstemmed | Growth Before And After Trade Liberalization Salinas, Gonzalo |
| title_short | Growth Before And After Trade Liberalization |
| title_sort | growth before and after trade liberalization |
| topic | Currencies and Exchange Rates Development Economic Conditions and Volatility Economic Growth Economic Indicators Economic Performance Economic Theory and Research Emerging Markets Exchange Exports Finance and Financial Sector Development Free Trade GDP GDP Per Capita Goods Income International Economics & Trade Investment Law and Development Macroeconomics and Economic Growth Poverty Reduction Private Sector Development Pro-Poor Growth Protectionism Theory Trade Law |
| topic_facet | Currencies and Exchange Rates Development Economic Conditions and Volatility Economic Growth Economic Indicators Economic Performance Economic Theory and Research Emerging Markets Exchange Exports Finance and Financial Sector Development Free Trade GDP GDP Per Capita Goods Income International Economics & Trade Investment Law and Development Macroeconomics and Economic Growth Poverty Reduction Private Sector Development Pro-Poor Growth Protectionism Theory Trade Law |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-4062 |
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