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Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
HWWI Research Paper No. 123
Verlag: 
Hamburgisches WeltWirtschaftsInstitut (HWWI), Hamburg
Zusammenfassung: 
While trade integration is often regarded as a principal determinant of economic growth, the empirical evidence for a causal linkage between trade and growth is ambiguous. This paper argues that the effect of trade in dynamic panel estimations depends crucially on the specification of trade. Both from a theoretical as well as an empirical point of view one specification is preferred: the volume of exports and imports as a share of lagged total GDP. For this trade measure, a positive and highly significant impact on economic growth can be found.
Schlagwörter: 
Openness
Trade
Growth
JEL: 
F11
F43
C23
Dokumentart: 
Working Paper

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