Economy favoring cross-border investment and commerce
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An open economy[1] is a type of economy where not only the domestic factors but also entities in other countries engage in trade of products (goods and services). Trade can take the form of managerial exchange, technology transfers, and all other kinds of goods and services. Certain exceptions exist that cannot be exchanged; for example – the railway services of a country cannot be traded with another country to avail the service.
It contrasts with a closed economy in which international trade and finance cannot take place. The practice of selling goods or services to a foreign country is called exporting. The act of buying goods or services from a foreign country is called importing. Exporting and importing are collectively given the name – international trade.
^Dornbusch, Rudiger (2005). Macroeconomics. pp. 87–145.
An openeconomy is a type of economy where not only the domestic factors but also entities in other countries engage in trade of products (goods and services)...
A small openeconomy, abbreviated to SOE, is an economy that participates in international trade, but is small enough compared to its trading partners...
dimension is that of an economy'sopenness, economic theory distinguishing sharply between closed economies and openeconomies.: 373 It is usual to distinguish...
International political economy (IPE) is the study of how politics shapes the global economy and how the global economy shapes politics. A key focus in...
market economy when it inhibits free trade and competition, but tend to support government intervention where it protects property rights, opens new markets...
government spending.: 174 In this simple economic model with a closed economy there are three uses for GDP (the goods and services it produces in a year)...
The economy of India has transitioned from a mixed planned economy to a mixed middle-income developing social market economy with notable public sector...
Report. The Netherlands has a prosperous and openeconomy, which depends heavily on foreign trade. The economy is noted for stable industrial relations,...
in Southeast Europe by nominal gross domestic product (GDP). It is an openeconomy with accommodative foreign policy, highly dependent on international...
The economy of Singapore is a highly developed mixed market economy with dirigiste characteristics. Singapore's economy has been consistently ranked as...
The economy of Latvia is an openeconomy in Europe and is part of the European Single Market. Latvia is a member of the World Trade Organization (WTO)...
ASEA/ABB, SKF, Alfa Laval, AGA, and Dyno Nobel. Sweden is a competitive open mixed economy. The vast majority of Swedish enterprises are privately owned and...
financial services and agribusiness, including agrifood. Ireland is an openeconomy (3rd on the Index of Economic Freedom), and ranks first for high-value...
transition economy or transitional economy is an economy which is changing from a centrally planned economy to a market economy. Transition economies undergo...
Malaysia has a newly industrialised market economy, which is relatively open and state-oriented. The Malaysian economy is highly robust and diversified with...
dissolution. The economy uses both directive and indicative planning through five-year plans, with support from an open market-based economy. Over that period...
socialist market economy incorporating industrial policies and strategic five-year plans. It is the world's second largest economy by nominal GDP, behind...
The economy of Denmark is a modern high-income and highly developed mixed economy. The economy of Denmark is dominated by the service sector with 80% of...
and the global financial crisis. Bosnia and Herzegovina is a small, openeconomy, dominated by services, which accounted for 55% of gross domestic product...
currency for real money, in what is sometimes called "open centralised marketplaces". Virtual economies are observed in MUDs and massively multiplayer online...
closed economy, Mundell–Fleming describes a small openeconomy. The Mundell–Fleming model portrays the short-run relationship between an economy's nominal...
ISBN 9789028602953 – via Google Books. G Gandolfo – International Finance and Open-Economy Macroeconomics Springer, 2002 Retrieved 15 July 2012 ISBN 3540434593...
Economy class, also called third class, coach class, steerage, or to distinguish it from the slightly more expensive premium economy class, standard economy...
make up the workforce of an organization, business sector, industry, or economy. A narrower concept is human capital, the knowledge and skills which the...
The United States is a highly developed/advanced mixed economy. It is the world's largest economy by nominal GDP; it is also the second largest by purchasing...
The economy of Canada is a highly developed mixed economy, with the world's tenth-largest economy as of 2023[update], and a nominal GDP of approximately...