On the dynamic measurement of economic openness

Philippe A.A. De Lombaerde

Journal of Policy Modeling, 2009, vol. 31, issue 5, 731-736

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 openness-growth nexus as a new tool for policy-makers: the Openness Growth Monitoring Model (OGM-Model). 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.

Keywords: Economic; openness; Trade; liberalization; Economic; growth; Dynamic; measurement; Free; trade; areas; Customs; unions (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0161-8938(09)00020-9
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:jpolmo:v:31:y:2009:i:5:p:731-736

Access Statistics for this article

Journal of Policy Modeling is currently edited by A. M. Costa

More articles in Journal of Policy Modeling from Elsevier
Bibliographic data for series maintained by Catherine Liu ().