Publication:
Trade Openness Reduces Volatility When Countries Are Well Diversied

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dc.contributor.authorHaddad, Mona E.
dc.contributor.authorLim, Jamus Jerome
dc.contributor.authorSaborowski, Christian
dc.date.accessioned2012-03-19T18:38:18Z
dc.date.available2012-03-19T18:38:18Z
dc.date.issued2010-02-01
dc.description.abstractThis paper addresses the mechanisms by which trade openness affects growth volatility. Using a diverse set of export diversification indicators, it presents strong evidence pointing to an important role for export diversification in reducing the effect of trade openness on growth volatility. The authors also identify positive thresholds for product diversification at which the effect of openness on volatility changes sign. The effect is shown to be positive only for a minority of countries with highly concentrated export baskets. This result is shown to be robust to both explicit accounting for endogeneity as well as the inclusion of a host of additional controls.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100226112948
dc.identifier.doi10.1596/1813-9450-5222
dc.identifier.urihttps://hdl.handle.net/10986/3709
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 5222
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAGGREGATE LEVEL
dc.subjectAMERICAN ECONOMIC REVIEW
dc.subjectAPPLIED RESEARCH
dc.subjectAVERAGE GROWTH
dc.subjectAVERAGE GROWTH RATE
dc.subjectAVERAGE LEVEL
dc.subjectBANKING CRISIS
dc.subjectBARRIERS TO ENTRY
dc.subjectBOND
dc.subjectBUSINESS CYCLE
dc.subjectCAPITA GROWTH
dc.subjectCAPITAL FLOW
dc.subjectCAPITAL FLOWS
dc.subjectCIVIL LIBERTIES
dc.subjectCLOSED ECONOMIES
dc.subjectCOMMODITY
dc.subjectCOMMODITY PRICE
dc.subjectCOMPETITIVE ADVANTAGE
dc.subjectCOMPLEMENTARITIES
dc.subjectCOMPLEMENTARITY
dc.subjectCROSS-BORDER TRANSACTIONS
dc.subjectDEPENDENT VARIABLE
dc.subjectDESCRIPTIVE STATISTICS
dc.subjectDEVELOPED WORLD
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPING ECONOMIES
dc.subjectDEVELOPING WORLD
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDOMESTIC MARKET
dc.subjectDOMESTIC PRODUCERS
dc.subjectDYNAMIC PANEL
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC FLUCTUATIONS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC MANAGEMENT
dc.subjectECONOMIC POLICY
dc.subjectECONOMIC REFORM
dc.subjectECONOMIC STUDIES
dc.subjectECONOMICS LETTERS
dc.subjectEFFECTS OF VOLATILITY
dc.subjectEMPIRICAL LITERATURE
dc.subjectEMPIRICAL MODEL
dc.subjectEMPLOYMENT EQUATIONS
dc.subjectERROR TERM
dc.subjectESTIMATION RESULTS
dc.subjectEXCHANGE RATE REGIMES
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPLANATORY VARIABLES
dc.subjectEXPORT BASE
dc.subjectEXPORT DIVERSIFICATION
dc.subjectEXPORT GROWTH
dc.subjectEXPORT INCENTIVES
dc.subjectEXPORT PROMOTION
dc.subjectEXPORTERS
dc.subjectEXPORTS
dc.subjectEXPOSURE
dc.subjectEXTERNAL SHOCKS
dc.subjectEXTERNALITIES
dc.subjectFINANCIAL CRISES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL TRANSACTIONS
dc.subjectFIXED EFFECTS
dc.subjectFIXED EFFECTS ESTIMATOR
dc.subjectFLUCTUATIONS
dc.subjectFOREIGN INVESTMENT
dc.subjectGLOBAL ECONOMY
dc.subjectGLOBAL INTEGRATION
dc.subjectGLOBAL SHOCKS
dc.subjectGLOBAL TRADE
dc.subjectGLOBALIZATION
dc.subjectGOVERNMENT SPENDING
dc.subjectGROWTH EFFECT
dc.subjectGROWTH EFFECTS
dc.subjectGROWTH PROCESS
dc.subjectGROWTH RATE
dc.subjectGROWTH RATES
dc.subjectGROWTH VOLATILITY
dc.subjectHIGH GROWTH
dc.subjectHIGH INCOME
dc.subjectHIGH INCOME COUNTRIES
dc.subjectHIGHER VOLATILITY
dc.subjectHUMAN CAPITAL
dc.subjectIMPACT OF TRADE
dc.subjectINCOME GROWTH
dc.subjectINDEPENDENT VARIABLES
dc.subjectINDUSTRIAL POLICY
dc.subjectINDUSTRIALIZED COUNTRIES
dc.subjectINDUSTRIALIZED WORLD
dc.subjectINFLATION
dc.subjectINFLATION VOLATILITY
dc.subjectINSTRUMENTAL VARIABLE ESTIMATION
dc.subjectINSURANCE
dc.subjectINTERACTION TERM
dc.subjectINTERACTION TERMS
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL COMPETITION
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL MONETARY FUND
dc.subjectINTERNATIONAL TRADE
dc.subjectJOINT VENTURES
dc.subjectKNOWLEDGE SPILLOVERS
dc.subjectLAGGED DEPENDENT
dc.subjectLIBERALIZATION
dc.subjectLINK BETWEEN VOLATILITY
dc.subjectLONG RUN
dc.subjectLOW INCOME
dc.subjectLOW INCOME COUNTRIES
dc.subjectLOW-INCOME ECONOMIES
dc.subjectMACROECONOMIC FLUCTUATIONS
dc.subjectMACROECONOMIC VOLATILITY
dc.subjectMACROECONOMICS
dc.subjectMARKET DIVERSIFICATION
dc.subjectMARKET ENTRY
dc.subjectMEASURES OF VOLATILITY
dc.subjectMIDDLE INCOME
dc.subjectMIDDLE-INCOME ECONOMIES
dc.subjectNATURAL DISASTER
dc.subjectNATURAL DISASTERS
dc.subjectNATURAL RESOURCE
dc.subjectNEGATIVE SIGN
dc.subjectNEW MARKETS
dc.subjectNEW PRODUCTS
dc.subjectOPEN ECONOMIES
dc.subjectOPEN ECONOMY
dc.subjectOUTPUT
dc.subjectOUTPUT GROWTH
dc.subjectOUTPUT VOLATILITY
dc.subjectPATTERN OF TRADE
dc.subjectPER CAPITA GROWTH
dc.subjectPOINT ESTIMATES
dc.subjectPOLICY ANALYSIS
dc.subjectPOLICY IMPLICATIONS
dc.subjectPOLICY MAKERS
dc.subjectPOLICY MEASURES
dc.subjectPOLICY RESEARCH
dc.subjectPOLICY VARIABLES
dc.subjectPOLITICAL ECONOMY
dc.subjectPORTFOLIO
dc.subjectPOVERTY REDUCTION
dc.subjectPRICE UNCERTAINTY
dc.subjectPRODUCT MARKET
dc.subjectPROPERTY RIGHTS
dc.subjectPUBLIC OFFICIALS
dc.subjectRATE OF GROWTH
dc.subjectREAL EFFECTIVE EXCHANGE RATE
dc.subjectREAL INTEREST RATES
dc.subjectRED TAPE
dc.subjectRELATIVE IMPORTANCE
dc.subjectREVIEW OF ECONOMICS
dc.subjectRISK SHARING
dc.subjectSERIAL CORRELATION
dc.subjectSIGNIFICANT IMPACT
dc.subjectSMALL ECONOMIES
dc.subjectSPECIALIZATION
dc.subjectSTANDARD DEVIATION
dc.subjectSTANDARD ERRORS
dc.subjectSTARTUP
dc.subjectSTRUCTURAL CHARACTERISTICS
dc.subjectSUBSTITUTE
dc.subjectSYSTEMIC BANKING CRISES
dc.subjectTAX
dc.subjectTAX INCENTIVES
dc.subjectTERMS OF TRADE
dc.subjectTRADE COSTS
dc.subjectTRADE FACILITATION
dc.subjectTRADE INTEGRATION
dc.subjectTRADE LIBERALIZATION
dc.subjectTRADE OPENNESS
dc.subjectTRADE POLICY
dc.subjectTRADE REFORM
dc.subjectTRADE SHOCKS
dc.subjectTRADE VOLUMES
dc.subjectVOLATILITY MEASURE
dc.subjectVOLATILITY MEASURES
dc.subjectWORLD ECONOMY
dc.subjectWORLD TRADE
dc.subjectWORLD TRADE ORGANIZATION
dc.titleTrade Openness Reduces Volatility When Countries Are Well Diversieden
dspace.entity.typePublication
okr.crossref.titleTrade Openness Reduces Growth Volatility When Countries Are Well Diversified
okr.date.doiregistration2025-04-10T11:55:20.544765Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20100226112948
okr.globalpracticePoverty
okr.guid591781468138276391
okr.identifier.doi10.1596/1813-9450-5222
okr.identifier.externaldocumentum000158349_20100226112948
okr.identifier.internaldocumentum11868242
okr.identifier.reportWPS5222
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2010/02/26/000158349_20100226112948/Rendered/PDF/WPS5222.pdfen
okr.region.administrativeThe World Region
okr.region.administrativeThe World Region
okr.topicPoverty Reduction::Achieving Shared Growth
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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