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Effect of Openness on Economic Growth in High Income OECD Countries: 1953-2004

Sefer Sener and Ercan Saridoğan ()

Istanbul Stock Exchange Review, 2007, vol. 10, issue 37, 13-34

Abstract: In a globalizing world, economic growth of the countries is deeply affected by international economic relationships. Therefore, openness has become the one of the most important factor affecting economic growth of the nations. On the other hand, it is very important to determine the optimal time and level of openness for obtaining benefit from international trade. The terms of trade among the countries depend on their power of the competitiveness. In this study, It is analyzed the effect of openness on economic growth for highincome OECD countries according to the World Bank classification for the period 1953-2004 by using panel time series econometric techniques. It is observed that openness affect economic growth positively in these countries and in the given period.

Keywords: Openness; Economic Growth; Economic History; Panel Causality; Panel Cointegration (search for similar items in EconPapers)
Date: 2007
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Handle: RePEc:bor:iserev:v:10:y:2007:i:37:p:13-34