Effects of foreign trade on the economic growth

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

The Scientific-Analytical Journal "Economic Reforms", 2023, vol. 2023, issue 1, 43-54

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...

Keywords: economic growth; GDP; export; import; external balance (search for similar items in EconPapers)
JEL-codes: F10 F13 F19 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:azr:reform:v:2023:y:2023:i:1:p:43-54

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