Determinants of trade orientation in less developed countries

The success of East Asian Newly Industrializing Countries often has been attributed to their outward-oriented trade strategies. Cross-national analysis of trade orientation reveals that the degree of export-oriented industrialization (measured as manufacturing exports as a percentage of gross domestic product) is associated closely with relative factor endowments. While Singapore and Taiwan are more outward oriented than expected by the cross-national norm, Hong Kong is less outward oriented than expected.
The success of East Asian Newly Industrializing Countries (NICs) often has been attributed to their outward-oriented trade strategies. Outward-oriented development has performed much better than inward-oriented development, either because the [...]