An Analysis of Economic Development

Abstract

This research aims to analyse the relationships between key macroeconomic and social phenomena – specifically trade openness and regulatory quality – and their impact on per capita incomes. The objective is to identify patterns and correlations that provide insights into how regulatory quality and trade openness influence per capita incomes across sovereigns. The hypothesis test concluded that there is indeed positive correlation between regulatory quality and per capita incomes; in fact, this positive correlation is very significant.