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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2009.8
- 수록면
- 177 - 197 (21page)
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This paper examines how economic liberalizations cause per capita income convergence across East Asian countries. It relies on the fact that most countries in the region are well-known in making attempts toward liberalizing strategies over the recent decades. The analysis focuses on before and after Asian liberalizations, which realized mostly in 1980s and 1990s. The paper examines how pre- and post-liberalizations in the region affect the rate of income convergence. To explore these changes, this study relies on a dynamic analysis and uses a ?difference-indifferences‘ (DID) approach which compares the convergence rates among the liberalizing and non-liberalizing countries before and after liberalizations.
Using annual time-series data over 1970-2005 for all countries around the world, including East Asian countries, from the Penn World Tables, we obtain reliable results, which are quite supportive of a positive relationship between trade and financial liberalizations and income convergence. In fact, much of the evidence suggests that such liberalizations converge incomes among the countries. These results also suggest certain directions that further research might take in order to shed more light on this important issue.
Using annual time-series data over 1970-2005 for all countries around the world, including East Asian countries, from the Penn World Tables, we obtain reliable results, which are quite supportive of a positive relationship between trade and financial liberalizations and income convergence. In fact, much of the evidence suggests that such liberalizations converge incomes among the countries. These results also suggest certain directions that further research might take in order to shed more light on this important issue.
목차
1. INTRODUCTION
2. A CONCEPTUAL DISCUSSION ON FINANCIAL LIBERALIZATION
3. TRADE AND INCOME CONVERGENCE
4. A DIFFERENCE-IN-DIFFERENCES (DID) FRAMEWORK
5. EMPIRICAL RESULTS
6. CONCLUSION
REFERENCES
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