On the dynamic Measurement of Economic Openness
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Author De Lombaerde, Philippe Title On the dynamic Measurement of Economic Openness Appearing in Journal of Policy Modelling Volume 31 Issue No. 5 Publication Date 2009 Place of Publication Amsterdam Publisher Elsevier Start page 731 End page 736 Language EN Abstract The empirical relationship between economic openness and economic performance is much debated in the economic literature. No definitive conclusions seem to be reached yet, part of the problem being the very measurement of economic openness of a national economy. In their article in the Journal of Policy Modeling, Ruíz Estrada & Yap (2006) propose a new method to measure economic openness and to empirically assess the opennessgrowth nexus as a new tool for policymakers: the Openness Growth Monitoring Model (OGMModel). The authors claim: (i) that their method is different from and more flexible than existing empirical methods, (ii) that higher levels of openness do not lead to income growth, and (iii) that customs unions perform better than free trade areas. This short article challenges the three claims of the authors.
Copyright Holder Society for Policy Modeling; Elsevier Inc Copyright Year 2009 Copyright type All Rights Reserved DOI 10.1016/j.jpolmod.2009.03.001 -
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