The Influence of Trade Openness on Economic GrowthBased on the Experience of Asian Developing Countries

Abstract

This paper analyzes the total trade openness, goods trade openness and service trade openness of developing countries with different incomes
in Asia. After that, the relationship between trade and economic growth is analyzed in a cycle from 2004 to 2020. A total of 663 sample
sizes from 39 countries were used for the fixed-effect regression analysis of the development of Asian countries; at the same time, income
levels were divided into low-middle-income countries, high-middle-income countries, and high-income countries to distinguish the
economic impact of trade openness at different income levels. growth impact. Countries and high-income countries are returning
independently. The results show that the total openness of product and service trade in emerging countries at different income levels has a
positive impact on economic growth. Therefore, on the basis of the regression results, this paper puts forward targeted economic suggestions
in combination with developing countries with different income levels.