Uniwersyteckie Czasopisma NaukoweThe importance of economic openness for the economic growth of OECD countries in the years 1990–2020
DOI:
https://doi.org/10.26881/ibage.2024.43.03Słowa kluczowe:
economic growth, economic openness, panel data analysis, international trade, economic integrationAbstrakt
This study analyses the impact of economic openness on economic growth in OECD countries over the years 1990–2020. Utilizing panel data and dynamic panel estimation methods, it examines the relationship between various aspects of economic openness – such as international trade, migration, foreign direct investment and political and economic integration – and the dynamics of economic growth. The results indicate a positive impact of economic openness on economic growth, with varying strength depending on the factor. The analysis also highlights the importance of further research in the context of new global challenges, such as digitization and climate change, for understanding the relationship between openness and economic growth in a changing global environment.
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