EconPapers    
Economics at your fingertips  
 

Measuring Economic Openness

Claudius Gräbner (), Philipp Heimberger (), Jakob Kapeller () and Florian Springholz

No 157, wiiw Working Papers from The Vienna Institute for International Economic Studies, wiiw

Abstract: A Review of Existing Measures and Empirical Practices This paper surveys existing measures of economic openness understood as the degree to which non-domestic actors can or do participate in a domestic economy. We introduce a typology of openness indicators which distinguishes between ‘real’ and ‘financial’ openness as well as between ‘de facto’ and ‘de jure’ measures of openness, and show that this classification indeed captures different dimensions of economic openness. The main contribution of the paper is to supply a comprehensive and novel data set of openness indicators available for interested researchers. Based on this effort, we analyse some trends in economic openness over time and provide a correlation analysis across indicators. Finally, we explore the practical implications of choosing from different openness measures within a growth regression framework and highlight that researchers should make the choice of the indicator based on explicit theoretical justifications that correspond to their specific research questions.

Keywords: economic openness; trade openness; financial openness; globalisation (search for similar items in EconPapers)
JEL-codes: F00 F40 F60 (search for similar items in EconPapers)
Pages: 27 pages including 9 Tables and 5 Figures
Date: 2018-12
New Economics Papers: this item is included in nep-int
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Published as wiiw Working Paper

Downloads: (external link)
https://wiiw.ac.at/measuring-economic-openness-dlp-4741.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wii:wpaper:157

Ordering information: This working paper can be ordered from
https://wiiw.ac.at

Access Statistics for this paper

More papers in wiiw Working Papers from The Vienna Institute for International Economic Studies, wiiw Contact information at EDIRC.
Bibliographic data for series maintained by Customer service ().

 
Page updated 2020-09-22
Handle: RePEc:wii:wpaper:157