Understanding economic openness: a review of existing measures

This paper surveys measures of economic openness, the latter being understood as the degree to which non-domestic actors can or do participate in a domestic economy. Based on the existing literature, the authors introduce a typology of openness indicators, which distinguishes between ‘real’ and ‘fin...

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Detalles Bibliográficos
Autores principales: Gräbner, Claudius, Heimberger, Philipp, Kapeller, Jakob, Springholz, Florian
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Berlin Heidelberg 2020
Materias:
Original Paper
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7461754/
http://dx.doi.org/10.1007/s10290-020-00391-1
Descripción
Sumario:This paper surveys measures of economic openness, the latter being understood as the degree to which non-domestic actors can or do participate in a domestic economy. Based on the existing literature, the authors introduce a typology of openness indicators, which distinguishes between ‘real’ and ‘financial’ openness as well as ‘de-facto’ and ‘de-jure’ measures of openness. They use data collected on these indicators to analyze trends in openness over time and to conduct a correlation analysis across indicators. Finally, they illustrate the potential consequences of employing different openness measures in a growth regression framework. ELECTRONIC SUPPLEMENTARY MATERIAL: The online version of this article (10.1007/s10290-020-00391-1) contains supplementary material, which is available to authorized users.

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