Finance:Openness index

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The openness Index is an economic metric calculated as the ratio of a country's total trade, the sum of exports plus imports, to the country's gross domestic product.[1] = (Exports + Imports)/(Gross Domestic Product)[2]

The interpretation of the openness index is, the higher the index, the larger the influence of trade on domestic activities and the stronger that country's economy.[3]

References

  1. ↑ Glossary, International Economics. "Deardorffs' Glossary of International Economics entry". http://www-personal.umich.edu/~alandear/glossary/o.html#openness. Retrieved 21 September 2011. 
  2. ↑ "Trade (% of GDP) | Data". http://data.worldbank.org/indicator/NE.TRD.GNFS.ZS. 
  3. ↑ "Homepage". http://www.cer.ethz.ch/resec/teaching/seminar_aussenwirtschaft_wt_04_05/yanikkaya_JDE.pdf. 



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