Trade, Trade Openness and Macroeconomic Performance

The paper examines the link between trade, trade openness and macroeconomic performance. The main methods used in the paper are a descriptive and comparative analysis of significant empirical studies during the past decades. Based on the presented literature, the empirical results indicate a positive effect of trade and trade openness on macroeconomic variables. Therefore, an introduction of appropriate trade policies in an economy is the major source of its economic growth.