Openness and development

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Openness and development are crucial in understanding the current dynamics of the world economy. Openness reflects the ongoing internationalization and liberalization in commodity, factor, and financial markets, highlighting that no national economy or company can ignore global interdependencies. Development, in a broader sense, refers to the endogenous economic processes that foster prosperity and enhance living standards through innovation and structural change. Modern economic research indicates that these interconnected fields significantly influence the economic fate of national economies and their participants across industrialized, newly industrializing, transitional, and developing countries. This volume emphasizes the importance of these concepts while exploring a wide range of related topics. It features contributions from economists at universities and research institutions, alongside insights from "economic practitioners" that address contemporary issues through both theoretical and practical lenses. The first part of the volume presents general analyses, while the second part focuses on specific regional aspects. It begins with a theoretical-empirical study on the evolution of foreign trade, setting the stage for a comprehensive exploration of these vital economic themes.