Open AccessEffect of Trade Liberalization on Economic Growth in the Panel of ASIAN Economies
Author(s) -
Imran Ullah,
Muhammad Tufail,
Muhammad Rafiq
Publication year - 2021
Publication title -
journal of business and tourism
Language(s) - English
Resource type - Journals
eISSN - 2521-0548
pISSN - 2520-0739
DOI - 10.34260/jbt.v7i1.214
Subject(s) - openness to experience , economics , panel data , international economics , liberalization , competition (biology) , generalized method of moments , free trade , economies of scale , gains from trade , international trade , trade barrier , econometrics , market economy , microeconomics , psychology , social psychology , ecology , biology
The present study has investigated the effects of the trade liberalization on the EconomicGrowth of ASIAN economies. For the sake of investigation, we took the data from 1985 to2014 for empirical analysis, which is based on a panel of 34 countries. We have estimated the dynamic panel estimation was performed and for this purpose Generalized Method of Moment (GMM) was used. The findings of the current study have confirmed that the openness impact on the growth of economics is positive. As the openness allow utilization of comparative advantage, diffusion of knowledge, increasing scale of economies, technology transfer and exposure to competition. It is therefore, suggestedthat government should take prudent steps to further liberalize the trade to gain from trade