Utjecaj ekonomske otvorenosti na ekonomski rast

master's thesis

• Title (english): Impact of economic openness on economic growth
• Author: Stjepan Čondić
• Mentor: Marko Družić (mentor)
• Committee member: Tomislav Sekur (član povjerenstva)
• Committee member: Valentina Vučković (član povjerenstva)
• Committee member: Marko Družić (predsjednik povjerenstva)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Macroeconomics and Economic Development); Zagreb
• Defense date and country: 2024-07-05, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics; Macroeconomics

Abstract

Ovaj diplomski rad istražuje utjecaj ekonomske otvorenosti na ekonomski rast, preispitujući dosadašnje uvriježeno mišljenje o isključivo pozitivnome utjecaju trgovinske otvorenosti na ekonomski razvoj. Rad se oslanja na kritiku Rodrigueza i Rodrika (2000.) koja je dovela u pitanje metodologiju ranijih istraživanja utjecaja otvorenosti na rast. Rad postavlja dva ključna pitanja: je li ekonomska otvorenost važna te ako je, kako točno utječe na rast? U razvoju teorija rasta izrazito bitnu ulogu igra tehnologija čiji rast se smatra pokretačem ekonomskoga rasta – od Solowa i endogenih modela rasta koji kao odrednicu tehnologije naglašavaju ulaganje u istraživanje i razvoj (R&D), preko semiendogenih modela koji sugeriraju kratkoročne učinke R&D-a na rast, do schumpeterijanskih modela koji ističu dugoročne učinke R&D-a uz uvjet da ulaganja rastu proporcionalno s dohotkom. Ovaj rad se temelji na schumpeterijanskim modelima, naglašavajući važnost prelijevanja znanja kroz kanal uvoza (omogućen trgovinskom otvorenosti) i poduzetničke aktivnosti za tehnološki napredak. Za modeliranje je korišten panel model s fiksnim efektima, a rezultati istraživanja pokazuju: pozitivan utjecaj razine otvorenosti na rast, što je u skladu s očekivanjima; neočekivan negativan utjecaj promjene otvorenosti na rast, što može biti posljedica vremenskog okvira promatranja te značajan pozitivan utjecaj istraživačkog intenziteta (potaknutog poduzetničkom aktivnosti) na ekonomski rast što je u skladu sa schumpeterijanskim pretpostavkama modela. Zanimljivo je da varijable vezane uz R&D nisu pokazale značajnost unutar modela otvarajući prostor za daljnja istraživanja i interpretacije uloge R&D-a u ekonomskom rastu. Rast je mjeren ukupnom faktorskom produktivnosti.

Abstract (english)

This thesis investigates the impact of economic openness on economic growth, reevaluating the established opinion on the importance of trade openness for economic development. The study relies on the critique by Rodriguez and Rodrik (2000), which questioned the methodology of earlier research on the impact of openness on growth. The paper raises two key questions: Is economic openness important, and if so, how exactly does it affect growth? In the development of growth theories, technology plays a crucial role, with its growth considered a driver of economic growth – from Solow and endogenous growth models that emphasize investment in research and development (R&D) as a determinant of technology, to semi-endogenous models suggesting short-term effects of R&D on growth, and Schumpeterian models highlighting the long-term effects of R&D provided that investments grow proportionally with income. This thesis is based on Schumpeterian models, emphasizing the importance of knowledge spillover through the import channel (enabled by trade openness) and entrepreneurial activity for technological advancement. A fixed-effects panel model was used for modeling, and the research results show: a positive impact of the level of openness on growth, consistent with expectations; an unexpected negative impact of changes in openness on growth, which may be due to the observational time frame; and a significant positive impact of research intensity (spurred by entrepreneurial activity) on economic growth, in line with the Schumpeterian model assumptions. Interestingly, variables related to R&D did not show significance within the model, opening up space for further research and interpretations of the role of R&D in economic growth. The growth is measured by total factor productivity.

• Keywords: ekonomski rast; ekonomska otvorenost; tehnologija; R&D
• Keywords (english): economic growth; economic openness; technology; R&D
• Language: croatian
• URN:NBN: urn:nbn:hr:148:473266
• Study programme: Title: Economics; Study programme type: university; Study level: integrated undergraduate and graduate; Academic / professional title: sveučilišni magistar ekonomije/sveučilišna magistra ekonomije (sveučilišni magistar ekonomije/sveučilišna magistra ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Open access
• Created on: 2024-07-08 07:56:38