MARC Record from Library of Congress

LEADER: 02415cam a22003257a 4500
001 2005620413
003 DLC
005 20051118124927.0
007 cr |||||||||||
008 051118s2005 dcu sb i000 0 eng
010 $a 2005620413
040 $aDLC$cDLC
050 00 $aHG3881.5.W57
100 1 $aChang, Roberto.
245 10 $aOpenness can be good for growth$h[electronic resource] :$bthe role of policy complementarities /$cRoberto Chang, Linda Kaltani, Norman Loayza.
260 $a[Washington, D.C. :$bWorld Bank,$c2005]
490 1 $aPolicy research working paper ;$v3763
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 11/18/2005.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"The authors study how the effect of trade openness on economic growth depends on complementary reforms that help a country take advantage of international competition. This issue is illustrated with a simple Harris-Todaro model where output gains after trade liberalization depend on the degree of labor market flexibility. In that model, trade protection may ameliorate the problem of underemployment (and underproduction) in sectors affected by labor market distortions. Hence, trade liberalization unambiguously increases per capita income only when labor markets are sufficiently flexible. The authors then present some panel evidence on how the growth effect of openness depends on a variety of structural characteristics. For this purpose, they use a non-linear growth regression specification that interacts a proxy of trade openness with proxies of educational investment, financial depth, inflation stabilization, public infrastructure, governance, labor-market flexibility, ease of firm entry, and ease of firm exit. They find that the growth effects of openness are positive and economically significant if certain complementary reforms are undertaken. "--World Bank web site.
650 0 $aFree trade.
650 0 $aLabor market.
650 0 $aEconomic development.
700 1 $aKaltani, Linda.
710 2 $aWorld Bank.
830 0 $aPolicy research working papers (Online) ;$v3763.
856 40 $uhttp://econ.worldbank.org/external/default/main?pagePK=64165259&theSitePK=469372&piPK=64165421&menuPK=64166093&entityID=000016406_20051031155510