Bachelor Thesis in Economics:The Impact of Openness on the Swedish Economy

University essay from Mälardalens högskola/Akademin för hållbar samhälls- och teknikutveckling; Mälardalens högskola/Akademin för hållbar samhälls- och teknikutveckling

Author: Samuel Osei Nsiah; Godspower Stephen Ojeabulu; [2008]

Keywords: ;

Abstract:

Subject / term: Economics (Nationalekonomi) / VT2008Title: The Impact of Openness on the Swedish EconomyAuthor(s): Nsiah Samuel Osei & Ojeabulu GodspowerSupervisor: Christos PaphristodoulouIntroduction:Over the decades there has been continues debate amongst economist on the relation betweenopenness and economic performance. From the comparative advantage theory of Heckscher-Ohlin, Openness can be an influencing factor in improving the economic performance of acountry. Based on Heckscher-Ohlin theory, a country will export products it has comparativeadvantage in to improve its overall economic performance.Problem:The purpose of this thesis work is to determine empirically, the type of economic growth thatoccurs as a result of the Openness of the Swedish Economy.Method: We will perform traditional Ordinary Least Square regression analysis on thevariables listed in the theoretical part of this thesis. We will also plot stationary andUnstationary time series graphs in relation with GDP, Exports and Imports.Results: The regression results shows that export has been more than import in Sweden andthat the type of growth experienced in Sweden was Pro-trade biased

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