Productivity, trade, and institutional quality: a panel analysis
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comunitat-uji-handle2:10234/8643
comunitat-uji-handle3:10234/8644
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Productivity, trade, and institutional quality: a panel analysisData de publicació
2011Editor
Southern Economic AssociationISSN
0038-4038Cita bibliogràfica
Southern Economic Journal (2011) vol. 77, no. 3, pp. 726–752Tipus de document
info:eu-repo/semantics/articleVersió de l'editorial
http://journal.southerneconomic.org/doi/abs/10.4284/sej.2011.77.3.726Versió
info:eu-repo/semantics/publishedVersionParaules clau / Matèries
Resum
Recognizing that gains historically attributed to trade capture instead the roles of institutions
and geography, we estimate the relationship between labor productivity and trade for a panel of
countries, 1980 to ... [+]
Recognizing that gains historically attributed to trade capture instead the roles of institutions
and geography, we estimate the relationship between labor productivity and trade for a panel of
countries, 1980 to 2000. We use real and nominal openness as measures of trade. The
endogeneity of trade and institutional quality is accounted for with instruments. Our trade
instrument is based on a theoretically motivated gravity equation and uses a more
comprehensive data set than in related studies. Fixed- and random-effects and system-GMM
panel estimation methods address potential biases associated with cross-section estimations.
We find a robust relationship between real openness and labor productivity from the 1990s.
Countries that trade more generate higher levels of productivity, supporting an institutional
theory of growth. We find evidence that countries with low-quality institutions benefit from
openness to trade and that the positive effect of trade on labor productivity is lower for more
populated countries. [-]
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