IMPACT OF FOREIGN TRADE ON ECONOMIC GROWTH IN COUNTRIES THAT BECAME MEMBERS OF THE EUROPEAN UNIONDURING THE 5TH EXPANSION PERIOD
AVRUPA BİRLİĞİNE 5. GENİŞLEME DÖNEMİNDE ÜYE OLAN ÜLKELERDE DIŞ TİCARETİN EKONOMİK BÜYÜMEYE ETKİSİ: PANEL VERİ ANALİZİ

Author : Ali AYATA -Galip Afşın RAVANOĞLU
Number of pages : 36-46

Abstract

Foreign trade has become the driving force of the economic developments of countries due to the globalization process, which is spreading around the world.The European Union also stands out as a dynamic organisation that is trying to increase the volume of trade among members and increase prosperity across the union. In this study , impacts of foreign trade on economic growth in countries are mostly post-soviet and became members of european union during the 5th expansion period were analyzed in statistics of import, export , and national income data for the 2004-2018 years with the help of panel data analsis.As a result, it was determined that the increase in one unit in imports would reduce the national income variable per capita by 0.0042 units, while the increase in one unit in exports would increase the national income variable per capita by 0.0672 units. Imports have a negative effect on per capita income, while exports have a positive effect..Therefore, it can be said that the export-driven hypothesis is valid for the countries who became members of the european uniion during the 5th expansion period.

Keywords

European Union, Foreign Trade, Economic Growth, Panel Data analysis

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