Trade Openness measures the extent of regulation concerning a country's external economic activity. Open countries can control corruption better by removing room for discretion at the level of administrative trade barriers and thus allowing free competition. Made up from the simple mean of standardized values of: average number of documents required to export and import; time for exporting and importing. The indicators stem from the World Bank Doing Business Data 2015. Their value has been transformed to be in range between 1 and 10 with 10 implying the highest trade openness.
Type of variable: Continuous
Last updated by source: 2021-12-02