Institutions and Trade: Competitors or Complements in Economic Development?

Sambit Bhattacharyya, Stephen Dowrick, Jane Golley

    Research output: Contribution to journalArticle

    Abstract

    This article contributes to the debate over the empirical relationship between trade openness and economic development. Unlike previous studies which treat trade openness and institutions as competitors in economic development, we find evidence that they are in fact complements. We also find that in order for a country to benefit from trade, its institutional quality has to be above a certain threshold level. These results are suggestive of an important complementary role for trade openness and institutions in economic development.
    Original languageEnglish
    Pages (from-to)318-330
    JournalEconomic Record
    Volume85
    Issue number270
    DOIs
    Publication statusPublished - 2009

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