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Understanding economic openness: a review of existing measures | Review of World Economics

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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. Avoid common mistakes on your manuscript. The impact of economic openness on domestic economies has been a prime area of interest within both the scientific community as well as the wider public. The relevant debates, however, use a great diversity of concepts to describe the extent of international economic integration: terms like ‘trade openness’, ‘econ

Understanding economic openness: a review of existing measures Original Paper Open access Published: 01 September 2020 Volume 157 , pages 87–120 ( 2021 ) Cite this article You have full access to this open access article Download PDF Save article View saved research Review of World Economics Aims and scope Submit manuscript Understanding economic openness: a review of existing measures Download PDF Abstract 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 l

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