Hidden Bibliographic Details
| Other authors / contributors: | IMF Institute.
International Monetary Fund.
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| ISBN: | 9781451893038
1451893035
1462326846
9781462326846
1452712956
9781452712956
1281607657
9781281607652
9786613788368
6613788368
9781451845594
1451845596
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| ISSN: | 2227-8885
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| Computer file characteristics: | Electronic data.
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| Notes: | Title from title screen (viewed Mar. 4, 2004).
"February 2003"--Page [1].
Includes bibliographical references (pages 37-38).
Electronic book.
Also issued in paper format.
Electronic reproduction. Washington, D.C. : International Monetary Fund, 200u.
System requirements: Adobe Acrobat Reader.
Mode of access: Internet via the World Wide Web.
English.
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| Summary: | This paper examines the dynamic relationship between trade and income. While most economists agree that increased trade leads to an increase in average income, economic theory is ambiguous about the possible effects on the long-run growth rate of the economy. Using a dynamic panel data model, the hypotheses of no long-run effects of trade on income and on income growth are tested explicitly. The possibility of endogeneity is addressed by constructing an instrument for trade by extending Frankel and Romer's (1999) cross-sectional approach to the case of a panel data model. The empirical results indicate that trade has a large and significant effect on the level of income, but the effect on income growth is small and non-robust to model specification.
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| Other form: | Long-run effects of trade on income and income growth (Original)
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| Standard no.: | 10.5089/9781451893038.001
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