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Understanding economic openness: a review of existing measures


ABSTRACT: This paper surveys measures of economic openness, the latter being understood as the degree to which non-domestic actors can or do participate in a domestic economy. Based on the existing literature, the authors introduce a typology of openness indicators, which distinguishes between ‘real’ and ‘financial’ openness as well as ‘de-facto’ and ‘de-jure’ measures of openness. They use data collected on these indicators to analyze trends in openness over time and to conduct a correlation analysis across indicators. Finally, they illustrate the potential consequences of employing different openness measures in a growth regression framework.

Electronic supplementary material

The online version of this article (10.1007/s10290-020-00391-1) contains supplementary material, which is available to authorized users.

SUBMITTER: Grabner C 

PROVIDER: S-EPMC7461754 | biostudies-literature | 2020 Sep

REPOSITORIES: biostudies-literature

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