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Trade and Global Market
The relationship between trade openness and economic growth is ambiguous from both theoretical and empirical point of view. The theoretical propositions reveal that while trade openness leads to a greater economic efficiency, market imperfections, differences in technology and endowments may lead to adverse effect of trade liberalisation on individual countries. In this chapter, we re-examine the empirical evidence pointing to the benefits of trade liberalisation and bring theoretical issues ondoi:10.5772/intechopen.75812 fatcat:mhzo5fumyrd5nc5bx2mhfz5r2m