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| Author: | Gundlach, E. |
| Title: | Openness and economic growth in developing countries |
| Journal: | Weltwirtschaftliches Archiv
1997 : VOL. 133:3, p. 479-496 |
| Index terms: | ECONOMIC GROWTH DEVELOPING COUNTRIES ECONOMICS |
| Language: | eng |
| Abstract: | The idea that openness is one of the most important determinants of economic growth is becoming increasingly popular among governments of developing countries (DCs). Casual observation seems to suggest that more or less outward-oriented economies with few restrictions on international transactions have experienced a better economic performance than inward-oriented economies with high tariff walls and strict controls of capital movements. Physical capital's share in factor income is the crucial parameter that determines the difference in the predicted convergence rates for open and closed economies. |
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