![]() Contrary to pessimists fears, our indicators of economic openness show positive effects on sustainability, results that are robust to sample size, testing procedure, and several alternative specifications. This study is the first to estimate the effects of dependence on trade, foreign direct investment (FDI), and an index of economic freedom on the World Bank s measure of sustainability (the genuine savings rate), which measures the rate at which investment in the total stock of manufactured, human, and natural capital exceeds its depreciation. Antiglobalization forces and environmentalists view these developments as a threat to the welfare of future generations because of profligate and excessive current consumption. While many herald globalization the increasing interconnectedness of national economies to be associated with rising standards of living across the globe, others fear its effects on sustainability.
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