Ouverture sur l'extérieur et instabilité des taux de croissance

Jean-Louis Combes, Pascale Combes Motel (p.motel-combes@udamail.fr), Patrick Guillaumont (patrick.guillaumont@ferdi.fr) and Sylviane Guillaumont Jeanneney (sylviane.guillaumont@udamail.fr)
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Pascale Combes Motel: Centre d'Etudes et de Recherches sur le Développement International(CERDI)
Authors registered in the RePEc Author Service: Pascale Motel Combes (pascale.motel_combes@uca.fr)

No 199927, 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 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: Mondialisation; Instabilité de la croissance; Instabilité macro-économique; Ouverture économique; Stratégies de développement. (search for similar items in EconPapers)
Pages: 29
Date: 1999
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Published in Revue Française d'économie, Hiver 2000, pages 3-33
Published in Revue Française d'économie

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Related works:
Journal Article: Ouverture sur l'extérieur et instabilité des taux de croissance (2000)
Working Paper: Ouverture sur l'extérieur et instabilité des taux de croissance (2000)
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