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Inflation and "Openness" in Less Developed Economies: A Cross-Country Analysis: Reply

Kirkpatrick and Nixson (hereafter called K & N) have written an interesting though only tangentially relevant comment' on my recent article.2 The thrust of my paper was econometric-an empirical verification of the hypothesis of an inverse relationship between inflation and openness in less-developed countries (LDCs). The "spillover" effect with which K & N take issue was only briefly mentioned in the article; the complete theory and underlying model, was not presented due to space limitation. Clearly, K & N's comments are more germane to the unpublished paper than the published one. In any case, K & N seem to concur with my result that inflation and openness are inversely related in LDCs. It cannot be otherwise, since they do not present any contrary econometric evidence.