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Journal of Economic Integration 2010 March;25(1) :194-223.
DOI: https://doi.org/10.11130/jei.2010.25.1.194
Revisiting Linkages between Openness, Education and Economic Growth: System GMM Approach
Emiko Fukase 
The Graduate Center, the City University of New York
Copyright ©2010 Journal of Economic Integration
ABSTRACT

For 106 countries over 1969-2004, this paper revisits the relationship between openness, education and economic growth using the System Generalized Method of Moment (GMM) approach. Trade and growth are usually positively correlated and capital formation appears to be an important channel through which trade brings growth. There generally exists a positive relationship between FDI inflow and economic growth for a subset of non-OECD countries. The System GMM estimator improves substantially the estimate of the impact of education on growth relative to the models which focus on within-country changes in education, adding information on cross-country variation in education levels.

JEL Classification: F13, F21, I20, O24, O40

Keywords: growth | system GMM | openness | trade | education | foreign direct investment
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