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GIGA German Institute of Global and Area Studies
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Thesis Chapters by furechi samuel
International Trade and Its Impact on the Global Economy, 2019
Abstract With regard to the theories of growth, the flow of trade has a significance in determina... more Abstract
With regard to the theories of growth, the flow of trade has a significance in determination of the rate of economic growth because trade allows the progress of technology in a region that ends up playing a crucial role in productions and gains of competition. This eventually fosters both the development and growth of a given economy. However, there are several arguments that claim that only trade cannot bring about economic growth and development and thus there are other factors like the political stability, the extent to which the rule of law is enforced, the population growth rate and the level of secondary and tertiary enrolment among other critical issues. The main goal of this Dissertation is to provide an extensive study of international trade and also ascertain the impact that it exerts on the global economy by narrowing down to regional, multilateral and bilateral trade agreements and their effects. The study also provides current data and information about the trends in international trade like the Brexit and the US-China trade war that are all affecting the economic growth of respective regions.
Key words: International trade, economic growth, trade openness, global economy
International Trade and Its Impact on the Global Economy, 2019
Abstract With regard to the theories of growth, the flow of trade has a significance in determina... more Abstract
With regard to the theories of growth, the flow of trade has a significance in determination of the rate of economic growth because trade allows the progress of technology in a region that ends up playing a crucial role in productions and gains of competition. This eventually fosters both the development and growth of a given economy. However, there are several arguments that claim that only trade cannot bring about economic growth and development and thus there are other factors like the political stability, the extent to which the rule of law is enforced, the population growth rate and the level of secondary and tertiary enrolment among other critical issues. The main goal of this Dissertation is to provide an extensive study of international trade and also ascertain the impact that it exerts on the global economy by narrowing down to regional, multilateral and bilateral trade agreements and their effects. The study also provides current data and information about the trends in international trade like the Brexit and the US-China trade war that are all affecting the economic growth of respective regions.
Key words: International trade, economic growth, trade openness, global economy