abstract t his paper explains bilateral trade patterns between south korea and thirteen opec member countries over the period 1980-2014 using a gravity model. the estimation results show that the gravity equation fits the data reasonably well. we confirmed the existence of long term relationships between the bilateral trade flows and the main components of gravity model - gdp, income (gdp per c...

This Chapter studies the economic mechanism relating (i) growth and (ii) openness to trade. It investigates how openness to economic exchange influences total factor productivity (TFP) convergence across economies. This Chapter stands as the natural limit point of the sequence of findings reported in earlier Chapters. At the Conference, we had previously seen correlations and tabulations and di...

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 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...