Understanding economic openness: a review of existing measures

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 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.

Contributors

Claudius Gräbner: [e-mail]

Journal

Journal ID (iso-abbrev): Rev World Econ

Title: Review of World Economics

Publisher: Springer Berlin Heidelberg (Berlin/Heidelberg )

ISSN (Print): 1610-2878

ISSN (Electronic): 1610-2886

Publication date (Electronic): 1 September 2020

Publication date PMC-release: 1 September 2020

Pages: 1-34

Affiliations

[1 ]GRID grid.9970.7, ISNI 0000 0001 1941 5140, Institute for the Comprehensive Analysis of the Economy (ICAE), , Johannes Kepler University Linz, ; Linz, Austria

[2 ]GRID grid.5718.b, ISNI 0000 0001 2187 5445, Institute for Socio-Economics, , University of Duisburg-Essen, ; Duisburg, Germany

[3 ]GRID grid.426374.0, ISNI 0000 0001 0806 9449, Vienna Institute for International Economic Studies (wiiw), ; Vienna, Austria

Article

Publisher ID: 391

DOI: 10.1007/s10290-020-00391-1

PMC ID: 7461754

Copyright statement: © The Author(s) 2020

License:

Open AccessThis article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/.

Categories

Subject: Original Paper