Revisiting Linkages between Openness, Education and Economic Growth: System GMM Approach

Emiko Fukase ()
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Emiko Fukase: The Graduate Center, the City University of New York, Postal: 725 West 172nd Street, #31, New York, NY 10032, U.S.A

Journal of Economic Integration, 2010, vol. 25, 193-222

Abstract:

For 106 countries over 1969-2004, this paper revisits the relationship between openness, education and economic growth using the System Generalized Method of Moment (GMM) approach. Trade and growth are usually positively correlated and capital formation appears to be an important channel through which trade brings growth. There generally exists a positive relationship between FDI inflow and economic growth for a subset of non-OECD countries. The System GMM estimator improves substantially the estimate of the impact of education on growth relative to the models which focus on within-country changes in education, adding information on cross-country variation in education levels.

Keywords: growth; system GMM; openness; trade; education; foreign direct investment (search for similar items in EconPapers)
JEL-codes: F13 F21 I20 O24 O40 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:ris:integr:0502

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