International Trade Boosts Developing Countries' Economies, Reducing Poverty and Driving Growth
International trade is crucial for developing countries like Nigeria, Ghana, and Benin Republic. It helps boost their economies by increasing earnings, creating jobs, and reducing poverty. The study looked at how international trade affects the economic development of African nations. It found that policies like exchange rates and subsidies can encourage more trade and benefit these countries. By focusing on their own needs and not just copying other countries, developing nations can make the most of international trade to drive their development goals. The researchers used data from 2000 to 2019 to show how trade can improve the GDP of developing countries over time.