IMPACT OF TRADE OPENNESS ON ECONOMIC DEVELOPMENT: CASE FROM SERBIA
IMPACT OF TRADE OPENNESS ON ECONOMIC DEVELOPMENT: CASE FROM SERBIA
Author(s): Danijela DurkalićSubject(s): Social Sciences, Economy, National Economy, Economic development
Published by: Univerzita J. Selyeho, Fakulta ekonómie a informatiky
Keywords: trade; openness; economic development; GDP;
Summary/Abstract: The openness of the economy in the global environment is an important driver of economic development. Contemporary theories of international trade, since Smith and Ricardo showed that the country on the basis of their comparative advantages could realize benefits from international trade by means of exchange and specialization,which will lead to their better competitive position and economic growth. Therefore,this study aims to propose and empirically examine impact of import and export trends on economic development measured through GDP growth. The paper will test the correlation of basic indicators of international trade and economic growth.
Journal: Acta Oeconomica Universitatis Selye
- Issue Year: 5/2016
- Issue No: 2
- Page Range: 79-87
- Page Count: 9
- Language: English