the benefits of increased openness in


The benefits of increased openness in trade.

Narrowly defined, trade openness is lowering trade barriers - facilitating increased imports - whereas focusing on international export markets. Advantages include choice/consumption etc for consumers, whereas firms have access to a broader (international) market. Society gains from economic growth, improved resource allocation and the spread of knowledge/technology.

 

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Microeconomics: the benefits of increased openness in
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