Date of Award
5-2014
Document Type
Thesis
Degree Name
Master of Arts (MA)
Legacy Department
Economics
Committee Chair/Advisor
Jerzmanowski, Michal
Committee Member
Simon , Curtis
Committee Member
Oliveira , Jaqueline
Abstract
In a modern economy, trade among people, firms, and countries is indispensable. There is also a close connection between the levels of trade and income and how they affect our standards of living. Many economists and policymakers believe in a virtuous circle: the more trade, the more income or vice versa. In order to see the relationship between trade and income, we investigated whether international trade affects the level of income. We analyzed international trades and incomes of eighteen countries in Western Asia Region in a period of 1950 to 2010. We used panel data with 687 observations. Our analysis showed that there is a positive relationship between international trade and income. A 1% increase in international trade between countries causes to increase in income by 1.57% on average. This increase is statistically significant at 1% significance level.
Recommended Citation
Erpek, Huseyin, "THE EFFECT OF INTERNATIONAL TRADE ON INCOME" (2014). All Theses. 1939.
https://open.clemson.edu/all_theses/1939