The relationship between a country's degree of openness and its economic well-being has been examined extensively both theoretically and empirically. Numerous empirical studies using different openness measures have found a positive effect of openness on growth. However, the validity of such measures have
come into question due to data issues....
This paper uses general equilibrium static and dynamic
models to examine the economic and environmental effect of
capital liberalization policy based on the general
equilibrium static and dynamic models. The first topic
develops a static general equilibrium model of a small open
economy in the presence of unemployment with three...