Do Outward-Oriented Developing Economies Industrialize Faster?
Don Clark and
International Economic Journal, 1997, vol. 11, issue 3, 75-83
This paper investigates the relationship between trade policy orientation and industrialization. Rates of industrial diffusion, rather than per capita output growth rates, are related to Dollar's (1992) index of real exchange rate distortion to establish the superiority of outward-oriented strategies in fostering industrial development. Results suggest developing countries will have more success in their efforts ot industrialize if they adopt outward-oriented trade strategies. [F13, O4]
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