Measuring the Dynamic Gains from Trade
利用57个国家1970-1989年的面板数据，构建新的贸易政策开放度指标，发现贸易政策通过加速物质资本积累等渠道显著促进经济增长。
This paper investigates the linkages between trade policy and economic growth in a panel of 57 countries, between 1970 and 1989. We develop a new measure of trade policy openness, based on the effective policy component of trade shares. This is used in a simultaneous equations system aimed at identifying the effect of trade policy on several determinants of growth. The results of this paper suggest a strong positive impact of trade policy openness on economic growth, with the accelerated accumulation of physical capital accounting for more than one half of this total effect; smaller effects operate through enhanced technological transmissions and improvements in the quality of macroeconomic policy. This decomposition is robust with respect to alternative specifications and time periods. We also successfully test whether the model exhaustively captures the effects of trade policy on growth. 1