Relationship between economic openness and economic growth: issue of openness measurement
The paper aims to compare different measurements of openness and calculate what impact economics openness has on economic growth. Economic openness is measured by using: KAOPEN index; tariffs; and trade ratio. The methods of comparative, statistical and econometric analysis were used in this paper. The results of this study confirmed that economic openness has an impact on the country’s economic growth. The study found that all three ways of measuring economic openness reveal only part of the concept of economic openness.