Trade Pattern and Economic Growth: Timing of Openess

2015 Fiscal Year Final Research Report

• Project/Area Number: 25380219
• Research Category: Grant-in-Aid for Scientific Research (C)
• Allocation Type: Multi-year Fund
• Section: 一般
• Research Field: Economic theory
• Research Institution: Kobe University (2014-2015); Tohoku University (2013)
• Principal Investigator: Hu Yunfang 神戸大学, 経済学研究科(研究院), 教授 (30379466)
• Project Period (FY): 2013-04-01 – 2016-03-31
• Keywords: 経済成長 / 資本移動 / 貿易パターン / 財政政策

Outline of Final Research Achievements

Economic development experience in Eastern Asia is characterized by active openness to the world markets. While commodity trade has been policy promoted in most economies of this region from the beginning of their development, there are different views on the timing of financial integration. Paying special attention to the timing of market opening in both commodity trade and financial integration, we examine the possible development paths under different environments. Existing studies separately illustrate that growth paths and the benefits of opening up to the world economy are closely related to the stages of domestic economy development. We construct a model with both international commodity trade and financial transaction in order to reexamine the development paths of an open economy in an integrated way. We found that, among others, late-developing economies can catch-up with the early-developed ones; industrial structure changes along with economic development.

Free Research Field

国際経済学　マクロ経済学