SavedAdd your journal

Journals / Alanya Akademik Bakış / 2022 / Cilt: 6 - Sayı: 3

Empirical Analysis of the Relationship Between Trade Openness and Economic Growth: The Case of Eastern European Countries

Ticari Açıklık ve Ekonomik Büyüme İlişkisinin Ampirik Analizi: Doğu Avrupa Ülkeleri Örneği

Asım KAR
Emre KILIÇ
Şevket PAZARCI
Pages
2683–2706
Publication Date
2022-09-30
DOI
—
🏛️Bibliographic metadata and full text access for this article are provided via DergiPark.
DergiPark Record ↗
✨

AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

According to the results of the time series analysis, a long-term relationship was determined between trade openness and economic growth in 3 countries (Latvia, Lithuania, Slovakia).

📌 3 Key Takeaways

🎯
Objective & Hypothesis:With the disintegration of the USSR, one of the most striking economic and political events of the last century, the Eastern European countries, which left the union and had a central planning economy, switched to a free market economy that they had not experienced before.
📊
Key Findings & Data:The aim of this study is to analyze the relationship between trade openness and economic growth in 10 selected Eastern European countries over the period 1995-2020.
💡
Conclusion & Impact:According to the results of the time series analysis, a long-term relationship was determined between trade openness and economic growth in 3 countries (Latvia, Lithuania, Slovakia).
🔬Design:Research Article
📍Scope:2020 Verileri
⚙️Variables:Ticari Açıklık · Ekonomik Büyüklük · Zaman Serisi Analizi

Abstract

With the disintegration of the USSR, one of the most striking economic and political events of the last century, the Eastern European countries, which left the union and had a central planning economy, switched to a free market economy that they had not experienced before. Along with this political and economic change, Eastern European countries, under the influence of globalization trends in the same period, encountered trade liberalization processes and had a commercially open structure. The aim of this study is to analyze the relationship between trade openness and economic growth in 10 selected Eastern European countries over the period 1995-2020. According to the results of the time series analysis, a long-term relationship was determined between trade openness and economic growth in 3 countries (Latvia, Lithuania, Slovakia). According to the results of the panel data analysis, no relationship was found between trade openness and economic growth.

Özet

Geçtiğimiz yüzyılın en çarpıcı ekonomik ve siyasal olaylarından biri olan SSCB’nin dağılmasıyla, birlikten ayrılan ve merkezi planlamacı ekonomi anlayışına sahip olan Doğu Avrupa ülkeleri daha önce tecrübe etmedikleri serbest piyasa ekonomisine geçmiştirler. Bu siyasi ve iktisadi değişimle birlikte Doğu Avrupa ülkeleri, aynı dönemde küreselleşme akımlarının etkisi altında kalarak ticari liberalizasyon süreçleri ile karşılaşarak ticari dışa açık bir yapıya sahip olmuşturlar. Bu çalışmanın amacı seçili 10 Doğu Avrupa ülkesinde ticari dışa açıklık ile ekonomik büyüme arasındaki ilişkiyi 1995-2020 dönemi boyunca analiz etmektedir. Yapılan zaman serisi analizi sonucuna göre, 3 ülkede (Letonya, Litvanya, Slovakya) ticari dışa açıklık ve ekonomik büyüme arasında uzun dönem ilişkisi tespit edilmiştir. Panel veri analizi sonuçlarına göre, ticari açıklık ve ekonomik büyüme arasında herhangi bir ilişki tespit edilememiştir.

🔖

Cite This Article

KAR, A., KILIÇ, E., PAZARCI, Ş. (2022). Empirical Analysis of the Relationship Between Trade Openness and Economic Growth: The Case of Eastern European Countries. Alanya Akademik Bakış, Cilt: 6 - Sayı: 3, 2683–2706. https://ajindex.com/articles/456924

📄 Full Text PDF Viewer

📄

PDF görüntüleyici hazırlanıyor...

References (17)

  1. ALAM, K. J., & SUMON, K. K. (2020). Causal relationship between trade openness and economic growth: a panel data analysis of Asian countries. International Journal of Economics and Financial Issues, 10(1), 118. ALAM, M. S. (1991). Trade orientation and macroeconomic performance in LDCs: an empirical study. Economic Development and Cultural Change, 39(4), 839-848.
  2. BAHMANI-OSKOOEE, M., & NIROOMAND, F. (1999). Openness and economic growth: an empirical investigation. Applied Economics Letters, 6(9), 557-561.
  3. BALTAGI, B. (2008).
  4. Econometric Analysis of Panel Data, John Wiley & Sons. BANDAY, U. J., MURUGAN, S., & MARYAM, J. (2021). Foreign direct investment, trade openness and economic growth in BRICS countries: evidences from panel data. Transnational Corporations Review, 13(2), 211-221.
  5. BREUSCH, T. S., & PAGAN, A. R. (1980). The Lagrange multiplier test and its applications to model specification in econometrics. The review of economic studies, 47(1), 239- 253. CHANG, R., KALTANI, L., & LOAYZA, N. V. (2009). Openness can be good for growth: The role of policy complementarities. Journal of development economics, 90(1), 33-49.
  6. CHANG, Y. (2004). Bootstrap unit root tests in panels with cross-sectional dependency. Journal of econometrics, 120(2), 263-293.
  7. CHUDIK, A., & PESARAN, M. H. (2015). Common correlated effects estimation of heterogeneous dynamic panel data models with weakly exogenous regressors. Journal of econometrics, 188(2), 393-420.
  8. DAĞDELEN, İ. (2004). Liberalizasyon. Uluslararası İnsan Bilimleri Dergisi, 1(1), 1-66.
  9. DAO, A. T. (2015).
  10. Trade Openness and Economic Growth, The Park Place Economist, 23(1), 44-62.
  11. DICKEY, D. A., & FULLER, W. A. (1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the American statistical association, 74(366a), 427-431.
  12. DICKEY, D. A., & FULLER, W. A. (1981). Likelihood ratio statistics for autoregressive time series with a unit root. Econometrica: journal of the Econometric Society, 1057-1072.
  13. EMİRMAHMUTOGLU, F., & KOSE, N. (2011). Testing for Granger causality in heterogeneous mixed panels. Economic Modelling, 28(3), 870-876.
  14. ENDERS, W., & LEE, J. (2012). The flexible Fourier form and Dickey–Fuller type unit root tests. Economics Letters, 117(1), 196-199.
  15. ENDERS, W. (2015).
  16. Applied Econometric Time Series, Fourth Edition,
  17. Wiley University of Alabama. ENGLE, R. F., & GRANGER, C. W. (1987). Co-integration and error correction: representation, estimation, and testing. Econometri