GLOBALIZATION AND OPENNESS: THE DETERMINANTS OF GROWTH

Abstract

Open and Liberal economies have always come to show greater growth and development ratios, not only economically, but also socially. We investigate the concepts and theories that explain these occurrences, as well as their historical evolution and the fundamental principles of economic growth and development. We hope to discover the real-world ramifications of globalization's role through a thorough examination of empirical facts. The study also focuses on policy concerns, criticisms, and obstacles, ending in a conclusion with recommendations for the future. By investigating these many aspects, we want to contribute to a more comprehensive understanding of the complicated link between globalization, openness, and economic success.