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| Author: | Damijan, J. |
| Title: | Velikost drzave in gospodarska razvitost |
| Journal: | Slovenska ekonomska revija
1993 : VOL. 44:6, p. 510-530 |
| Index terms: | |
| Freeterms: | economic theories, small open economy, definition, classification, characteristics, economic development, world trade, gross domestic product, exports, correlations, coefficients, international comparisons |
| Language: | slv |
| Abstract: | The aim of the paper is to consider the relation between the size of the country and its level of the economic development.We will show that the size of some country has no essential influence on its level of economic development, but however it has some influence on the process of economic development in this country.Through the statistical analysis we will prove the next four hypotheses: (1) The size of some country is not determined only by its size of the geographic area and its size of the population, but it's necessary to regard also the political and economic criteria, where the later of the four criteria is most important; (2) The size of the country is of no essential consequence to the start of the economic development, the essential influence on the start and multiplication effect on the accelaration of the development processes has the appropriate export orientation of the country; (3) The economic opennes and the export orientation of the country is of greater significance in small countries, and is at the same time strongly positively related to the growth of the level of economic development; (4) Due to the greater economic openness the economic stability of small countries is more sensitive to the external shocks. |
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