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Effects of foreign trade on the economic growth

Author

Listed:
  • Vusala Jafarova

    (Senior Advisor, Strategic Planning Department, Center for Analysis of Economic Reforms and Communication)

Abstract

Trade openness increasing the availability of labor and capital factors of production, thereby leading to higher total factor productivity. Countries that are open to trade tend to have faster rates of potential GDP growth. Foreign trade also involves risks, but overall the benefits of openness outweigh the risks...

Suggested Citation

  • Vusala Jafarova, 2023. "Effects of foreign trade on the economic growth," The Scientific-Analytical Journal "Economic Reforms", Center for Analysis of Economic Reforms and Communication of the Republic of Azerbaijan, vol. 2023(1), pages 43-54, May.
    • Handle: RePEc:azr:reform:v:2023:y:2023:i:1:p:43-54
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    More about this item

    Keywords

    economic growth; GDP; export; import; external balance;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F19 - International Economics - - Trade - - - Other

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