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An Analytical Study on the Impact of Trade Liberalization on the Economic Development

In: Proceedings of the 4th International Conference on Economic Development and Business Culture (ICEDBC 2024)

Author

Listed:
  • Hualei Chen

    (Cheongju University)

  • Shuilan Wang

    (School of Foreign Language and International Business)

  • Yixian Lin

    (Belarusian State University)

  • Yuzhe Jing

    (Kyungil University)

  • Yuxiu Wei

    (Belarusian State University)

  • Zijie Pan

    (Belarusian State University)

Abstract

This research delves into the influence of trade liberalization on the economic progression within a sample of five economies emerging in the market, spanning. Using panel estimation strategies, the study validates a sustained connection among trade liberalization, economic advancement, financial evolution, inflation, workforce, and technology over the long term. Notably, the outcomes of long-term elasticities highlight the significant favorable influence of trade liberalization on economic expansion. Moreover, diverse panel non-causality examinations reveal discern a two-way causality existing between economic development and inflation, along with a singular causality connection from economic expansion to both trade liberalization and financial growth in the brief term. Ultimately, the findings underscore the pivotal role of trade liberalization in fostering economic development and development across these five emerging market economies.

Suggested Citation

  • Hualei Chen & Shuilan Wang & Yixian Lin & Yuzhe Jing & Yuxiu Wei & Zijie Pan, 2024. "An Analytical Study on the Impact of Trade Liberalization on the Economic Development," Advances in Economics, Business and Management Research, in: Zhikai Wang & Guijie Zhang & R. Ganesan & Abdul Hadi Zulkafli & Teh Sin Yin (ed.), Proceedings of the 4th International Conference on Economic Development and Business Culture (ICEDBC 2024), pages 314-320, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-538-6_37
    DOI: 10.2991/978-94-6463-538-6_37
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