Publication

This publication reviews the literature on the relationships between commodity dependence and slow growth and assesses the usefulness of the trade/GDP ratio as measures of trade “openness.” The authors argue that neither the level nor the change in a country’s trade/GDP ratio can be taken as an indication of the “openness” of a country’s trade policy, as the whole question of “openness” vs “closedness” is perceived to be orthogonal to the problems of poor, slow growing, commodity producing countries.