COMPARISON OF MARKET OPENNESS OF CHINA, RUSSIA AND ITALY
The paper compares the market openness of China, Russia and Italy. The comparison is performed in relative terms in the form of openness to foreign trade and investment, trade policy comparisons and tariffs. The paper shows that all selected states are less open economies. China and Russia have increased their openness in the context of economic transformation and WTO accession. If we compare the openness of China, Russia and Italy in recent years, Italy is the most open economy, given the size of the economy and its EU membership. When we compare the openness of China and Russia, according to the indicators of openness and according to the analysis of tariffs, it follows that Russia is a more open economy compared to China. Exploration of openness requires a more dimensional approach, so far there is no unambiguous indicator that would allow the openness to be determined. Monitoring the openness of the economy is important because openness affects allocation of resources and labor, income distribution, possibility of increase in efficiency, market size growth, transfer of skills and technology, increase in productivity and economic growth. From the methodological point of view, general methods of socio-economic research (description, analysis, systematization, abstraction and synthesis) were used. Comparison of openness was performed with the help of statistical data and their analytical processing in tables and graphs. The aim of this paper was to contribute to the debate related to market openness. There is no indicator to determine the openness of an economy. The indicators used have some weaknesses; to determine business openness, it is necessary to consider more factors and only by their comprehensive evaluation can we assess the market openness.