A Study on the Impact of Economic Openness and Indigeneity on Growth Using the Nonparametric Estimation of a Two-Way Random Effects Model By
نویسندگان
چکیده
This paper contributes to the globalization debate by studying the overall effect on growth of openness and indigenous factors. The data from 1998-2005 covers 122 economies. The result of a nonparametric estimation of a two-way random effects model show that both the openness and indigeneity factors promote growth. Industrialized economies score relatively high in terms of performance in both factors, but there is a high threshold beyond which the effects of these factors on growth are slower. Among the developing economies, openness is a necessary and pre-requisite condition for growth, but the achievement of a high level of indigeneity is more important for sustainable growth. JEL Classifications: C33, F02, O11.
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