There is a good article from Wayne Hurlbert at SEO Chat about the pros and cons of outward bound links in terms of SEO on your blog.
“Few topics in search engine optimization (SEO) cause as many heated disputes as the concept of linking out to other sites. Whenever the subject of linking to other sites arises in conversation or on and Internet message forum, the sides in the debate are certain to become very polarized….
Most SEO professionals tend to agree that linking out provides no real boost in link popularity. They rightly point to the fact that the search engines, and especially link-obsessed Google, reward incoming links. The search engines provide no weight to the links going to other websites. With that in mind, many website owners are reluctant to link out to other sites….
Outbound links are not all bad, according to many Internet marketing specialists. By linking out to other related sites, a visitor is provided with even more helpful information on the topic. Sending to traffic to other useful websites is especially important for purely informational sites….”
Read more at Linking Out: Finding the Benefits