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Trade Openness and Economic Growth: Panel Data Evidence from Sub-Saharan Africa.
- Source :
- Economica; 2015 Supplement, Vol. 82, p1302-1323, 22p
- Publication Year :
- 2015
-
Abstract
- This paper uses an instrumental variables approach to estimate the relationship between trade openness and economic growth in Sub-Saharan Africa. Instrumental variables estimates show that economic growth has a significant negative contemporaneous effect on trade openness, while trade openness has a significant positive effect on economic growth. A 1 percentage point increase in the ratio of trade over GDP is associated with a short-run increase in growth of approximately 0.5% in a given year; the cumulative long-run effect on the level of GDP per capita is larger, reaching about 2%. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 00130427
- Volume :
- 82
- Database :
- Complementary Index
- Journal :
- Economica
- Publication Type :
- Academic Journal
- Accession number :
- 111342780
- Full Text :
- https://doi.org/10.1111/ecca.12160