| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w14264 |
| 来源ID | Working Paper 14264 |
| Is the Washington Consensus Dead? Growth, Openness, and the Great Liberalization, 1970s-2000s | |
| Antoni Estevadeordal; Alan M. Taylor | |
| 发表日期 | 2008-08-21 |
| 出版年 | 2008 |
| 语种 | 英语 |
| 摘要 | According to the Washington Consensus, developing countries? growth would benefit from a reduction in tariffs and other barriers to trade. But a backlash against this view now suggests that trade policies have little or no impact on growth. If "getting policies right" is wrong or infeasible, this leaves only the more tenuous objective of "getting institutions right" (Easterly 2005, Rodrik 2006). However, the empirical basis for judging recent trade reforms is weak. Econometrics are mostly ad hoc; results are typically not judged against models; trade policies are poorly measured (or not measured at all, as when trade volumes are spuriously used); and the most influential studies in the literature are based on pre-1990 experience (which predates the "Great Liberalization" in developing countries which followed the GATT Uruguay Round). We address all of these concerns -- by using a model-based analysis which highlights tariffs on capital and intermediate goods; by compiling new disaggregated tariff measures to empirically test the model; and by employing a treatment-and-control empirical analysis of pre- versus post-1990 performance of liberalizing and nonliberalizing countries. We find evidence that a specific treatment, liberalizing tariffs on imported capital and intermediate goods, did lead to faster GDP growth, and by a margin consistent with theory (about 1 percentage point per annum). Endogeneity problems are considered and other observations are consistent with the proposed mechanism: changes to other tariffs, e.g. on consumption goods, though collinear with general tariffs reforms, are more weakly correlated with growth outcomes; and the treatment and control groups display different behavior of investment prices and quantities, and capital flows. |
| 主题 | Macroeconomics ; Fiscal Policy ; International Economics ; Trade ; International Macroeconomics ; Globalization and International Relations ; History ; Macroeconomic History ; Other History ; Development and Growth ; Growth and Productivity |
| URL | https://www.nber.org/papers/w14264 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/571936 |
| 推荐引用方式 GB/T 7714 | Antoni Estevadeordal,Alan M. Taylor. Is the Washington Consensus Dead? Growth, Openness, and the Great Liberalization, 1970s-2000s. 2008. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w14264.pdf（1415KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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