Worldwide Trade System: tо What Extent Volumes of International Trade Affect the Growth of GDP

Student: Potapov Sergey

Supervisor: Vladimir Alexandrovich Bragin

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2017

In this paper, I tried to explore the significance and influence of international trade on the value of world’s gross domestic product (the “GDP”). I have studied several theories of international trade and economic growth, considered transaction costs as a factor that affects the level of international trade. To test my hypothesis, I designed and tested econometrical model with linear and non-linear relationships which resulted in regression with high R-squared value and significant coefficients. Additionally, I studied into a World Bank’s index logistics performance index (the “LPI”) and interpreted it in order to evaluate trading facilities and maximum trading amount. Based on the results I have made an attempt to answer four problematic questions that I stated in the introduction.

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