Gurhan Uysal

(Ondokuz Mayıs University, 55139Samsun, Turkey)

 

 

Abstract: Global GDP was 13 trillion dollars in 1990. Globalization concept started practicing by global economies in 1990s. GDP increased up to 60 trillion dollars in global economy in 2013, i.e., it is fourfold from 13 to 60 trillion dollars. The reason might be globalization. This study suggests applying “neomerchantalism” in global economy. There are three variables in neomerchantalism theory. They are open trade, open currency, and open monetary control. It is believed that application of neomerchantalism will increase amount of international trade between countries. Therefore, neomerchantalism may increase global GDP from 60 trillion to over 100 trillion dollars.

 

 

Key words: open trade, open currency; IMF; neomerchantalism; international trade

 

JEL codes: A12, E13, E52, F10