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Effects of trade openness on the steady-state growth rates of selected Asian countries with an extended exogenous growth model

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Abstract:

The Solow (1956) growth model is extended with an endogenous growth framework to estimate the effects of trade openness on the Steady State Growth Rate (SSGR). Estimates of the augmented production functions are used to compute the SSGRs for Singapore, Malaysia, Hong Kong, India and Thailand. Good policies that increase the growth effects of openness is also tested with an interactive term. Our results show that Singapore has the highest SSGR of 2.75%, followed by Hong Kong and Thailand with 2.5%. India and Malaysia have lower SSGRs of 1.7% and 0.5%, respectively.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/00036840802534468

Affiliations: 1: School of Economics and Finance, University of Western Sydney, Sydney, Australia 2: School of Economics, University of the South Pacific, Suva, Fiji

Publication date: December 1, 2010

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