Foreign Trade and Macroeconomic Indicators Current Debates

Şahin Nas (ed)
Şırnak University
https://orcid.org/0000-0003-3267-4432

Synopsis

With the outbreak of the Industrial Revolution and the transition to mass production, foreign trade has become crucial dynamic for economic growth and development. Therefore, to maximize gains from foreign trade, economies have progressively developed and implemented trade policies over time. With the increasing trends of integration and globalization in the world economy, the significance of foreign trade has grown, becoming one of the key dynamics of economic growth and productivity enhancement. Countries have pursued the goal of enhancing their competitiveness and developing technological capabilities through foreign trade and outward-oriented policies. Particularly in the post-1980 period, structural transformations in the global economy have accelerated globalization trends. As a result of this transformation, the production process has also become increasingly globalized. Therefore, due to the increasing globalization of production, countries have developed effective foreign trade policies to integrate into the global economy and participate in the production process. One of the most significant aspects of these policies is the shift from import-substitution strategies to export-led growth policies. As a result of these developments, foreign trade variables such as exports, imports, and trade openness have had a substantial impact on macroeconomic indicators within an economy. Within this framework, the present study examines foreign trade and macroeconomic indicators. Economic growth is the most crucial indicator of a country's development, as it also serves as a key measure of productivity and production levels. In today's globalized world, exports have become one of the most significant determinants of productivity and production. Therefore, this study empirically examines and discusses the significance of exports for economic growth. Additionally, the degree to which an economy is integrated into global markets and global production can be assessed through trade openness. To understand how integration into global markets impacts growth, the effect of trade openness on economic growth has been empirically analyzed. Another important macroeconomic indicator is employment. The acceleration of the production process and the export of produced goods can provide a significant source of employment. Therefore, the significance of exports for employment has been empirically tested. At the same time, the importance of high-tech exports, driven by technological advancements, has been discussed.

How to cite this book

Nas, Ş. (ed.) (2025). Foreign Trade and Macroeconomic Indicators Current Debates. Özgür Publications. DOI: https://doi.org/10.58830/ozgur.pub677

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Published

March 24, 2025

ISBN

PDF
978-625-5958-63-1

DOI