The Resource Being close to grow faster : a network-based emiprical analysis of economic globalization, Georg Duernecker, Moritz Meyer and Fernando Vega-Redondo

Being close to grow faster : a network-based emiprical analysis of economic globalization, Georg Duernecker, Moritz Meyer and Fernando Vega-Redondo

Label
Being close to grow faster : a network-based emiprical analysis of economic globalization
Title
Being close to grow faster
Title remainder
a network-based emiprical analysis of economic globalization
Statement of responsibility
Georg Duernecker, Moritz Meyer and Fernando Vega-Redondo
Creator
Contributor
Subject
Language
eng
Summary
Globalization features one of the major global trends which shape economic outcomes in developing and developed countries. Standard results from the empirical growth literature suggest that participation in worldwide trade is an important determinant of economic growth. In contrast to previous findings, this paper argues that not only the level of openness matters (trade intensity), but the degree of integration of an economy into the global trade network is even more important for the growth performance of an economy. The new measure of integration captures the network position of an economy and takes into consideration higher order links between economies in the global trade network. First, the theoretical framework of this paper makes use of social network theory to characterize a measure of economic integration. We employ the well-established concept of centrality and construct alternative measures to describe patterns of economic globalization. Second, we make use of a unique data set constructed from the UN Comtrade database and exploit a wide set of bilateral import and export flows to characterize the country's participation in worldwide trade. Third, the identification strategy takes into account the dynamic panel structure of our data to disentangle the impact of economic integration on economic growth. Our results build on the difference and system generalized method of moments and the limited information maximum likelihood method. We take into consideration possible problems of endogeneity and lagged variables in the dynamic panel framework. The empirical analysis highlights the importance of openness and especially integration to fully understand the economic growth performance in a between and within country perspective. Controlling for the standard set of independent variables in the empirical growth literature and using different robustness checks, we find a significantly positive effect of integration on economic growth
Member of
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Duernecker, Georg
Index
no index present
Literary form
non fiction
http://library.link/vocab/relatedWorkOrContributorName
  • Meyer, Moritz
  • Vega-Redondo, Fernando
  • European University Institute
Series statement
  • EUI working papers. ECO
  • EUI papers
Series volume
2012/05
http://library.link/vocab/subjectName
  • Globalization
  • Social sciences
Label
Being close to grow faster : a network-based emiprical analysis of economic globalization, Georg Duernecker, Moritz Meyer and Fernando Vega-Redondo
Link
http://hdl.handle.net/1814/20814
Instantiates
Publication
Note
Keywords: Economic Globalization; Growth Regressions; Dynamic Panel Estimation; Social Network Theory
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17090131
Dimensions
30 cm.
Extent
48 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
Other physical details
illustrations
System control number
(OCoLC)851517015
Label
Being close to grow faster : a network-based emiprical analysis of economic globalization, Georg Duernecker, Moritz Meyer and Fernando Vega-Redondo
Link
http://hdl.handle.net/1814/20814
Publication
Note
Keywords: Economic Globalization; Growth Regressions; Dynamic Panel Estimation; Social Network Theory
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17090131
Dimensions
30 cm.
Extent
48 pages
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
Other physical details
illustrations
System control number
(OCoLC)851517015

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