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The Impact of International Trade on Economic Growth of Developing Countries

In: Proceedings of the IBA IEA Conference on Economics and Public Policy (Ecofluence 2024)

Author

Listed:
  • Namrata Shrivastava

    (Assistant Professor of Economics BSSS)

  • Sharad Tiwari

    (Professor, PM College of Excellence Govt. Hamidia College)

Abstract

International Trade has an undeniable influence on the economic progress of all nations. It focuses on how resources are allocated among countries. Everyone worldwide can access the benefits of skilled manufacturing at competitive prices and high quality. International trade creates a more favorable environment for customers, sellers, and countries. Moreover, it raises the chances of an increase in global living standards. In this study, the paper utilizes various variables such as trade, per capita GDP, employment, inflation, exchange rate, HDI, imports, exports, and foreign direct investment (FDI). The objectives of the paper are to examine the impact of international trade on economic growth, explore the contribution of international trade, and examine the accuracy of different functions for a sample of 10 developing nations by analyzing time series data from 1991 to 2018. After a methodical analysis of the objectives, the study concludes that the effects of globalization and liberalization on international trade are distinct. In conclusion, this research underscores the importance of various factors in influencing international trade between developing countries. Policymakers and business leaders can use this research to inform strategies that boost international trade and economic development in their respective countries.

Suggested Citation

  • Namrata Shrivastava & Sharad Tiwari, 2025. "The Impact of International Trade on Economic Growth of Developing Countries," Advances in Economics, Business and Management Research, in: Prashant Kulkarni & Subhash Sharma (ed.), Proceedings of the IBA IEA Conference on Economics and Public Policy (Ecofluence 2024), pages 35-52, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-766-3_3
    DOI: 10.2991/978-94-6463-766-3_3
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