The Debate on Closed vs. Open Economic Business Environment: Where Do We Stand?

For college teachers of development economics, teaching the case for open economic environment of business by critiquing the closed economic environment of business has become a routine ideological task in the times that have changed for economic policy under neoliberalism since the late 1980s. However, there is no empirical credence to the argument that most less developed countries have developed robust exporting sectors stimulating the expansion of their GDPs. An unbiased evaluation of this debate between the left wingers and right wingers with empirical credence is still awaited.