Index of openness: measurement and analysis

Abstract

This paper looks at the changes that have occurred globally over the past 30 years in the world’s countries using the Index of Openness, a mathematical equation that relates a country’s exports and imports to its Gross Domestic Product and Gross National Product. The purpose of this study is to determine which of certain selected regional blocs have increased their openness to trade. The article is broken down into four sections. The first section discusses the theory of Index of Openness and gives an overview of how it has been used historically. The second section briefly touches on the methodology of this Index and the variations of it. The third section highlights the results of this study and analyzes where the changes have occurred. The final section concludes with a summary of the credibility and usefulness of the Index of Openness.

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