What is Growth & Development

Labor market, trade openness and economic growth rates constitute an important part of the macroeconomic indicators of countries. In order to evaluate the macroeconomic performances of countries, relevant data must be analyzed in detail. The study examines the impact of G-20 countries' labor market and trade openness on economic growth. The aim of the study is to analyze the long-term relationship between the labor market of G-20 countries and the determinants affecting economic growth and the direction of this relationship with annual data for the years 2002-2022. Panel data analysis was chosen as the econometric method. According to the results of the econometric analysis method; It has been determined that a 1% increase in the total workforce leads to a 0.42% increase in trade openness. It was concluded that the effect of the GDP per capita variable on trade openness is “positive and statistically significant”. A 1% increase in the total workforce results in a 0.13% increase in GDP per capita.