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Openness And The EU Does Candidacy to the EU Increase a Nation’s Trade Openness? By: Constantine Petallides.

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Presentation on theme: "Openness And The EU Does Candidacy to the EU Increase a Nation’s Trade Openness? By: Constantine Petallides."— Presentation transcript:

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2 Openness And The EU Does Candidacy to the EU Increase a Nation’s Trade Openness? By: Constantine Petallides

3 What is Trade Openness? (Imports + Exports)/GDP More Business = Stronger and More Stable Economy

4 Why Does the EU Care? Copenhagen Criteria: Existence of a functioning market economy and the capacity to cope with competitive pressure and market forces within the Union. 1 $$$$$$$$ $$$$$$$$ $$$$$$$$ – Fewer tariff walls and “Four Freedoms” Everyone Wins! 1 Europa – Glossary – Accession Criteria (Copenhagen Criteria), http://europa.eu/scadplus/glossary/accession_criteria_copenhague_en.htm

5 Methodology Penn World Tables used to generate dataset Observe other variables in relation to Trade Openness

6 The Data country country isocodeyearPPPrgdplrgdpchopenkCandidate Average Openness CandidateMember Average Openness Mamber AustriaAUT1950 0.7249498 15 5659.486 278 5573.3443 8117.6979670 64.813305 370 88.339694 46 AustriaAUT1951 0.8342921 45 6067.280 273 5977.4809 52 17.919626 440 64.813305 370 88.339694 46 AustriaAUT1952 0.9180965 12 5961.272 557 5866.7694 88 16.537258 460 64.813305 370 88.339694 46 AustriaAUT1953 0.9123809 11 6074.063 447 5973.6445 22 19.122231 710 64.813305 370 88.339694 46 AustriaAUT1954 0.9343898 22 6653.068 966 6560.4646 87 22.278403 160 64.813305 370 88.339694 46 AustriaAUT1955 0.9506676 57 7458.980 326 7416.1792 29 23.223757 410 64.813305 370 88.339694 46 AustriaAUT1956 0.9700294 88 7668.400 42 7630.0999 74 25.732026 750 64.813305 370 88.339694 46 AustriaAUT1957 0.9699949 75 8157.420 042 8112.1028 12 27.234158 190 64.813305 370 88.339694 46 AustriaAUT1958 0.9366666 41 8460.831 883 8414.1415 48 26.027051 210 64.813305 370 88.339694 46 AustriaAUT1959 0.9409560 97 8707.753 274 8668.3172 97 28.269505 540 64.813305 370 88.339694 46 AustriaAUT1960 0.9310126 4 9811.916 896 9797.5714 06 28.446362 020 64.813305 370 88.339694 46 Note: All tables and graphs are author created based on this dataset

7 The Data (Post-Mental Breakdown)

8 YearEU StatusGDPTrade Openess 91Unaffiliated20755.7856841.14312089 92Candidate19551.7221145.59469788 93Candidate18892.254751.08341727 94Candidate19598.6158455.54894615 95Member20739.5813556.5274974 96Member21088.9620658.86920368 97Member22699.6466461.40788752 98Member24185.862562.42602938 99Member25091.5546764.73418808 00Member26401.7938171.72706411 01Member27024.6620570.98454394 02Member27299.8332672.00204736 03Member27750.590871.02776323 04Member28766.4528573.98360549 05Member29761.4619978.06943861 06Member31045.5639481.78941102 07Member32486.1546981.53146954 Case Example: Finland

9 YearEU StatusGDPTrade Openess 98Unaffiliated6418.3198641.37731082 99Candidate6093.58252540.70670457 00Candidate6428.20843146.48146355 01Candidate5708.50738946.06522048 02Candidate6017.59101248.62820636 03Candidate6253.60155755.90605291 04Candidate6737.09295760.6695371 05Candidate7132.83124962.20189919 06Candidate7457.44269463.17499061 07Candidate7737.85808765.32816591 Unobservable Factors: Turkey

10 Further Research / Difficulties Statistics Training More Advanced Confirmation of Relationship

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