Intégration à l'économie mondiale et instabilité des taux de croissance (révisé en E 1999.27)

Jean-Louis Combes, GUILLAUMONT Patrick (), Sylviane Guillaumont Jeanneney () and COMBES MOTEL Pascale ()
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GUILLAUMONT Patrick: Centre d'Etudes et de Recherches sur le Développement International
COMBES MOTEL Pascale: Centre d'Etudes et de Recherches sur le Développement International
Authors registered in the RePEc Author Service: Pascale Motel Combes ()

No 199906, Working Papers from CERDI

Abstract: This paper considers the effects of a more or less trade and capital openness on the instability of the growth rate. Indicators of outward looking policies are estimated by eliminating the impact of structural factors through a panel standardization equation. Then indicators of growth instability are estimated. Open trade policies are assumed to be stabilizing because they improve the working of markets. But open financial policies, when the financial system is underdeveloped, may increase instability due to speculative capital flows. Econometric analysis relying on a large sample of developed and developing countries for three periods beginning in 1970 allows to not reject these assumptions.

Keywords: instabilité de la croissance; instabilité macro-économique; mondialisation; ouverture économique; stratégies de développement. (search for similar items in EconPapers)
Date: 1999

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Persistent link: http://EconPapers.repec.org/RePEc:cdi:wpaper:105

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