This paper investigates the influence of international openness on economic growth in a sample of 32 European economies. The usual approach in the literature on the topic is to observe the impact of trade openness on growth. We, however, broaden this standard approach and analyse not only...

The global economic crisis has had a major impact on the economies of EU Member States, among other things, public sector budget deficits and public debt levels have risen dramatically. This has been reflected also on the budgets of the European Union (EU) that had become tighter and raise the...