The importance of a country’s international trade is relevant for a multitude of questions in the economic research, since international dependences influence most economical variables of a country. Usually, the concept of openness degree of an economy is used to represent this international interlocking of trade, where previous studies applied mainly output-oriented operationalizations of the ...

Economic theory predicts that the integration of financial markets lowers the volatility of consumption. In this paper, we study long-term trends in the consumption volatility of the G7 countries. Using different measures of financial openness, we find some evidence that greater financial openness has been associated with lower consumption volatility. However, volatility of consumption relative...

one of the most controversial aspects of financial markets is capital market liberalization of course not so liberalization under the rules of governmental severities. based on financial theories there are a number of reasons , that capital flows openness should lead to increases in economic growth. on the other hand most economists believe that the cost of openness outweigh the benefits , such...

The empirical literature on economic growth agrees that institutions and governance are important determinants of long-run economic growth rates. As a stylized fact, this literature points to a strong correlation between the level of GDP per capita and the general development level of institutions and governance. However, the growth rate of GDP per capita itself, as well as other indicators tha...

Th is paper explores the relationships between openness, poverty and inequality in Africa. Th e analysis begins with a review of social development on the continent since 1980, followed by a discussion of openness and a lengthy exploration of the patterns of trade and fi nance that link Africa to the rest of the world. Th e macroeconomic policy framework that guided African policymaking over th...

An Empirical Study of the Relationships between CO2 Emissions, Economic Growth and Openness This paper investigates the existence of the environmental Kuznets curve (EKC) for carbon dioxide (CO2) emissions and its causal relationships with economic growth and openness by using time series data (1971-2006) from China (an emerging market), Korea (a newly industrialized country), and Japan (a deve...

Air transport has experienced phenomenal growth in China over the last 30 years, but studies on China’s airport development are few. This paper aims to fill in this literature gap by focusing on the determinants of airport development in the Chinese regions using the most up-to-day and comprehensive data on China’s airports and their related economic and geographical variables. The empirical re...