Influence of International Trade on Economic Growth
Influence of International Trade on Economic Growth

Author(s): Pavol Skalák, Marcel Novák
Subject(s): Economic policy, International relations/trade, Economic development
Published by: Masarykova univerzita nakladatelství
Keywords: international trade; economic growth; openness; Slovakia;
Summary/Abstract: International trade significantly affects our standard of living. It allows us to access goods and services that we don’t produce in our country or we can’t produce because we don’t have resources to do so. Thereby imported good widened our consumer choices. The benefit of international trade is also in increased productivity, which has its origin in the specialization of production and competitive pressure from foreign producers and markets. Economic performance is not only determined by national production factors, but also by international factors and so interdependence of countries becomes more and more intense.

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