Openness and economic performance in sub-Saharan Africa : evidence from time-series cross-country analysis

摘要: In a cross-country study for 1967-87, the author tests whether finding that increased openness improves performance holds true sub-Saharan Africa as subgroup among developing countries. Econometric analysis - based on augmented production function includes labor, capital stock, and measure of shows exerts significant positive impact economic countries in Africa. The relationship is especially strong fixed-effect estimates use annual panel data with country dummies to capture unobserved country-specific differences. finds evidence link between surprisingly robust different measures openness, periods, inclusion other policy variables. All four example, are 1967-87. For shorter period, 1980-87, three significant. Also, size significance coefficients do not change when one controls macroeconomic policy.