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Does trade openness promote economic growth in developing countries?

Author

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  • Nam, Hyun-Jung
  • Ryu, Doojin

Abstract

This study examines the influence of trade openness on economic growth in the Association of Southeast Asian Nations. Trade openness is associated with low levels of trade barriers and high levels of trade volumes. Lower trade barriers may negatively affect GDP in developing economies, implying that excessive trade openness could impede economic growth. Conversely, increased trade volumes positively affect GDP, highlighting the potential advantages of trade openness for economic growth. We identify the moderating role of trade barriers, noting that in countries with high trade barriers, increased trade volumes are associated with stronger economic growth.

Suggested Citation

  • Nam, Hyun-Jung & Ryu, Doojin, 2024. "Does trade openness promote economic growth in developing countries?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 93(C).
    • Handle: RePEc:eee:intfin:v:93:y:2024:i:c:s1042443124000519
    DOI: 10.1016/j.intfin.2024.101985
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    More about this item

    Keywords

    ASEAN; Economic growth; Trade barriers; Trade openness; Trade volumes;
    All these keywords.

    JEL classification:

    • B27 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - International Trade and Finance
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • F38 - International Economics - - International Finance - - - International Financial Policy: Financial Transactions Tax; Capital Controls
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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