Trade Liberalisation and Economic Performance: An Overview

By Alan Winters. 2004

574 citations recorded by the source corpus.

This paper surveys the recent literature on trade liberalisation and economic growth. While there are serious methodological challenges and disagreements about the strength of the evidence, the most plausible conclusion is that liberalisation generally induces a temporary (but possibly long-lived) increase in growth. A major component of this is an increase in productivity. Part 2 stresses the importance of other factors in achieving growth, such as other policies, investment and institutions, but argues that many of these respond positively to trade liberalisation. It also considers the implementation of liberalisation and notes the benefits of simple and transparent trade regimes.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/20bee8e676b36ab105dce1cf8c9361607193a99d

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Citations in the corpus

Trade Liberalization and Poverty: What Have We Learned in a Decade? (2014, background): “The causality problem is most pressing if one uses the trade-to-GDP ratio as the indicator of openness: Economic growthmay clearly lead to higher exports and/or imports aswell as be caused by them, but similar issues may arise with policy-based measures (Winters 2004).”
Financial development, institutional investors, and economic growth (2017, background): “We anticipate this variable to have a positive relationship with growth because higher openness enhances growth through higher competition and technological progress (Winter 2004).”
Trade and economic growth in developing countries: Evidence from sub-Saharan Africa (2017, background): “The inconclusive results may occur because trade liberalization must almost certainly be combined with other appropriate policies, and linear regression models cannot capture such complementary dynamics (Winters, 2004).”
Trade and Growth at Different Stages of Economic Development (2009, unknown): “As put forth in Rodrik et al. (2004), Winters (2004), Borrmann et al. (2006) and Freund and Bolaky (2008), this result might be owing to relatively weak institutional quality and/or more distorted government policies associated with low-income countries.”
Is Islamic Banking Good for Growth? (2015, unknown): “Islamic Banking Development and Economic Growth (1990-2010) Notes: Data are 3-year average over the period 1990-2010 Sources: IMF, Bankscope, authors’ calculations -1 -.”
How Do Trade and Financial Integration Affect the Relationship between Growth and Volatility (2004, background): “2 Baldwin (2003) and Winters (2004) provide extensive surveys of the literature on trade liberalization and economic growth.”
Climate change, adaptation and economic growth (2012, background): “…which needs to ensure macroeconomic stability, create strong institutions that protect investors, open up to the world economy, encourage innovation and promote social cohesion, solidarity and political stability (see e.g., Acemoglu et al. 2001; Hausmann 2006; Rodrik et al. 2004; Winters 2004).”
Environment, Human Development and Economic Growth (2008, background): “13 measure of trade openness provided by Sachs and Warner, 1995b), FDI flows and low inflation rate as a proxy of macroeconomic stability on the international markets (Winters, 2004) whereas other conditioning variables include private investments.”
What Constrains Africa’s Exports? (2011, background): “See Winters (2004) for a summary of the literature on trade and growth.”
Trade, growth and income (2011, background): “Examples include Rodrik, Subramanian and Trebbi (2002), Dollar and Kraay (2003), Winters (2004), Aghion, Howitt and Mayor-Foulkes (2005), Borrmann, Busse and Neuhaus (2006), and Freund and Bolaky (2008).”