Assessing the Impact of One Aspect of Globalization on Economic Growth in Africa

Mina Baliamoune

No DP2002-91, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Using panel data, this paper explores the effects of openness to international trade and foreign direct investment (FDI) on economic growth. Fixed-effect and adjusted fixed-effect (regional-effect) estimations yield results consistent with the hypothesis of conditional convergence. FDI has a significant positive impact on economic growth in all specifications. However, openness to trade does not seem to enhance growth in poor countries. The empirical findings fail to substantiate the proposition that greater openness facilitates convergence to higher income levels.

Keywords: Economic development; Free trade; Globalization; International trade; Convergence (search for similar items in EconPapers)
Date: 2002
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Citations: View citations in EconPapers (11)

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