This paper applies Pedroni's panel cointegration approach to explore the causal relationship between trade openness, carbon dioxide emissions, energy consumption, and economic growth for the panel of newly industrialized economies (i.e., Brazil, India, China, and South Africa) over the period of 1970-2013. Our panel cointegration estimation results found majority of the variables cointegrated a...

This paper applies Pedroni's panel cointegration approach to explore the causal relationship between trade openness, carbon dioxide emissions, energy consumption and economic growth for the panel of newly industrialized economies (i.e. Brazil, India, China and South Africa) over 1 Corresponding author the period of 1970–2013. Our panel cointegration estimation results found majority of the vari...

This paper examines empirically the causal relationship among the degree of openness of the economy, financial development and economic growth by using a multivariate autoregressive VAR model in Greece for the examined period 1960:Ι – 2000:IV. The results of cointegration analysis suggest that there is one cointegrated vector among GDP, financial development and the degree of openness of the ec...

This study assesses dynamics of openness and finance in Africa by integrating financial development dynamics of depth, activity and size in the assessment of how financial, trade, institutional, political and other openness policies (of second generation structural and institutional reforms) have affected financial development. The empirical evidence is based on Generalized Method of Moments wi...

This paper examines the empirical relationship between trade and total factor productivity (TFP) in South Africa. Using data on actual trade protection across different manufacturing sectors, it is shown that trade liberalization had a positive impact on TFP growth during the 1990s. In addition, time-series evidence on macro data supports a positive long-run relationship between TFP and opennes...

The impact of trade liberalization on productivity and economic growth has received considerable attention in recent policy debates (for recent review, see Tybout, 2000 and 2001, Epifani, 2003, Erdem and Tybout, 2003). To start with, there is no consensus in the theoretical literature on the impact of trade reform on productivity. Some researchers claim that trade openness might improve product...

The paper is an effort to fill the gap in the energy literature with a comprehensive country study for Pakistan. We investigate the relationship between CO2 emissions, energy consumption, economic growth and trade openness for Pakistan over the period of 19712009. The result suggests that there exists long run relationship among the variables. EKC hypothesis is supported in the country. Further...

If China’s current rate of growth continues, the size of its economy will ex-­ ceed that of the United States in only 12 years. Even if this projection is overly optimistic, China’s growth track record has been remarkable, as can be seen in figure 4.1. Our chapter reflects on the Chinese growth experi-­ ence from the perspective of an empirical multicountry model in the neo-­ classical traditio...

The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. This paper examines different explanations—initial conditions, openness to trade and FDI, and institutions—of the Mauritian growth experience...

The paper empirically examines the relationship between trade openness and the level of corruption in Pakistan using annual time-series data for the period 1984 to 2007. The analysis shows that trade openness negatively affects corruption in Pakistan. The results are robust to controlling for other corruption determining variables and various model specifications. Sensitivity analysis shows tha...