small open economy

Definitions

Economics

  • An economy that is small enough compared to the world markets in which it participates that (as a good approximation) its policies do not alter world prices or incomes. The country is thus a price taker in world markets. The term is normally applied to a country as a whole, although it is sometimes used in the context of only a single product.
  • acronymSOE
    (written as Small open economy)
  • State-owned enterprise.
  • small open economy.
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