External exposure can be measured by the sensitivity of first and second moments of economic growth to openness and foreign shocks. This paper provides an empirical evaluation of external exposure using panel data methods for a worldwide sample of countries. Controlling for domestic conditions, the paper examines the growth and volatility effects of outcome measures of trade and financial integration, as well as four types of foreign shocks: terms...
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INFORMATION
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2005/10/01
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Document de travail de recherche sur les politiques
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WPS3733
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1
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1
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2010/07/01
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Disclosed
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Does openness imply greater exposure ?
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financial openness
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