Munich Personal RePEc Archive

Causality between Openness and Indigenous Factors among World Economies

Zhou, X. and Li, Kui-Wai (2010): Causality between Openness and Indigenous Factors among World Economies. Published in: Investment Management and Financial Innovations , Vol. 7, No. 2 (2010): pp. 159-166.

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Abstract

The paper studies the causality relationship between economic openness and indigenous factors. The construction of the Openness Index and the Indigenous Index provides a measure on the extent of openness and indigenous development among world economies. The two indices are used to study their causality. The empirical findings show that there are bi-directional dynamic causality relationships between openness and indigenous factors. Indigenous factors help to forecast openness factors and vice versa.

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