The degree of openness of a country tends to be found to be a robust determinant of growth in GDP per capita in cross-country and panel growth regressions. Furthermore, Ben-David (1996) shows that trade incentivates income convergence (among groups of trading partners). From a theoretical point of view, international trade allows for specialization through comparative advantages, the exploitation of increasing returns from larger markets and incentivates...
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2008/01/01
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46270
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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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Trade and economic growth
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Trade and Economic Growth
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