Role of Foreign Trade on Economic Growth: Case Study of the United Kingdom

Bc. John Mutale Chokwe Talizi Mulenga

Master's thesis

Abstract:

The aim is to determine whether or not foreign trade contributes significantly to the Economic growth of the United Kingdom. Furthermore, the author aims to comprehend whether the current economic downturn is due to worse trading conditions with the European Union. The primary methodology employed by the author centres on carrying out an empirical analysis, from which a linear regression will be derived. The author will conclude on the statistical significance of certain parameters on the GDP of the nation based on the results of the linear regression and the ensuing hypothesis testing. The author also includes other analyses, like the terms of trade analysis. The author primarily uses data from one of the biggest open databases in the world - The Wolrd Bank. In conslusion, based on the empirical analysis, trade does have an impact on the economy of the UK. However, the impact of other macroeconomic variables related to domestic environment is more significant.

Keywords

Foreign trade, Brexit, Economic Growth, Gross Domestic Product, Liberalization, United Kingdom, Exchange rate, Protectionism

Jazyk práce: English

Datum vytvoření / odevzdání či podání práce: 30. 3. 2024

Obhajoba závěrečné práce

• Obhajoba proběhla 29. 5. 2024
• Vedúci: Ing. Olga Regnerová, Ph.D.
• Oponent: Zdeněk Chládek, externi

Czech University of Life Sciences Prague

Faculty of Economics and Management

Master programme:
Economics and Management