The Openness of the Economy as a Dynamic Process
Oeconomica, Vol. 2, No. 1, pp. 519-623, 2008
5 Pages Posted: 9 May 2011 Last revised: 12 Jun 2014
Date Written: September 7, 2008
The issue of the openness of the economy is becoming more important recently, especially given the development of global economy in last years and months. As openness is to be regarded as a dynamic process, flexible in both directions, problems with the visions for the openness arise with time, especially for transitional economies, given the fragility of their markets. In applying some econometric methods on external trade data we aim to shed some light on the dynamics of the openness of the economy of Bulgaria after 2000.
Keywords: open economy, Grubel-Lloyd index, transitional economy
JEL Classification: F14, F41, O11, O52, P23
Suggested Citation: Suggested Citation