| Abstract [eng] |
The relationship between trade openness and economic recession in the European Union has been estimated in this thesis of master’s academic studies. The literature analysis showed that results of the researches among many authors are not the same. Some authors argue that trade openness positively impact the economic development of the countries, others identified the economic vulnerability of the country as a negative aspect of trade openness. The aim of this thesis is to identify the impact of trade openness on economies of the countries, to carry out analysis of the relationship between trade openness and economic recession in the European Union and to find an answer to the question whether countries with high level of trade openness are more vulnerable during economic recession. Conception of trade openness and it’s impact on the economies has been discussed in the theoretical part of this thesis. Stages and methods of the research of the relationship between trade openness and economic recession are discussed in the empirical part of this thesis. Also, analysis of trade openness, export and import in the countries of the European Union and analysis of the relationship between trade openness and economic recession are carried out. These researches includes time period from 2004 to 2014, including period of economic upturn and recession. Results of scientific literature research showed that trade openness is a policy promoting a free flow of goods and services between countries. Trade openness causes both positive and negative effects on economies, but as the main impact of the trade openness is an increased economic vulnerability of the country. This statement was confirmed in the empirical part of the thesis. It was found that countries of the European Union which are more open to trade are more sensitive to changes in economic situation and are more vulnerable during economic recession. |
