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Abstract
This study looks at the three-way relationship between economic growth, human development, and openness to trade in a large panel of developing Asian economies. Using a theoretically motivated simultaneous equations system, we find that although human development contributes positively to economic growth, in the case of our Asian sample growth does not appear to have had a positive influence on human development. Uneven growth accompanied by lagging institutional development, preventing human capital formation, might have inhibited human development in the short to medium run. Complementary to the literature showing that growth is sustainable only when accompanied by human development, we confirm a role for trade liberalisation policies in achieving higher growth as well as human development.Citation
Mustafa, G., Rizov, M., and Kernohan, D. (2016) ‘Growth, human development, and trade: the Asian experience’, Economic Modelling, 61,pp. 93-101. doi: 10.1016/j.econmod.2016.12.007Publisher
ElsevierJournal
Economic ModellingDOI
10.1016/j.econmod.2016.12.007Additional Links
https://doi.org/10.1016/j.econmod.2016.12.007Type
ArticleLanguage
enISSN
0264-9993ae974a485f413a2113503eed53cd6c53
10.1016/j.econmod.2016.12.007