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Revisit the Nexus between Trade Openness and Economic Growth

In: Proceedings of the 2024 6th International Conference on Economic Management and Model Engineering (ICEMME 2024)

Author

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  • Zitao Liu

    (Beijing Normal University-Hong Kong Baptist University United International College)

Abstract

This study examines the complex relationship between trade openness and economic growth using a two-way fixed effects model on panel data from 153 countries from 2001 to 2021. Our findings challenge the conventional wisdom that trade openness universally promotes growth. We demonstrate that while trade volume positively correlates with economic growth, trade barriers also show a positive association. Moreover, trade barriers amplify the positive relationship between trade volumes and growth. These results suggest that countries should reconsider blanket trade liberalization policies and instead adopt nuanced approaches that balance openness with protective measures.

Suggested Citation

  • Zitao Liu, 2025. "Revisit the Nexus between Trade Openness and Economic Growth," Advances in Economics, Business and Management Research, in: Lina Zhong & Tang Yao & Chee Yoong Liew & Hongbo Li (ed.), Proceedings of the 2024 6th International Conference on Economic Management and Model Engineering (ICEMME 2024), pages 377-390, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-690-1_37
    DOI: 10.2991/978-94-6463-690-1_37
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