On the dynamic Measurement of Economic Openness

De Lombaerde, Philippe, (2009). On the dynamic Measurement of Economic Openness. Journal of Policy Modelling, 31(5), 731-736

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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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    Created: Fri, 15 Feb 2019, 13:43:44 JST