World Bank, 1991. United Nations Conference on Trade and Development, 1987. For a detailed discussion, see Paul Martin et al. Since risk weighted and unweighted sectoral intensities are very highly correlated, we have employed only unweighted intensities for this analysis. Space limitations have prevented us from including econometric results in tabular form.
All results are available from the authors upon request.
Under free trade, such a basket of tradable goods ought to have the same price everywhere. In practice some non-tradables enter the basket of commodities. The residual from these regressions is then adopted as Dollar's measure of relative openness.