"Although globalization is widely recognized these days, the U.S. economy actually remains relatively closed, " the researchers said in their report.
Australia's was a relatively closed economy until 1992, underperforming to its potential.
But many other countries are relatively closed to trade and finance.
But even if it could, the relatively closed nature of the Greek economy, and the large amount of business off-shoring that has gone on, mean a simple devaluation will not have the same benign impact as for example the UK's sterling devaluation did after 2009.
The Dow Jones BRIC 50 index closed relatively flat on Wednesday, up 0.08% to 699.59 points.
But with so much money flooding the private equity and venture capital markets and relatively listless equity markets (the Dow only just closed above 11, 000 on Monday for the first time since 2001), venture capital investors seem more willing to take their exits in a merger when they can get them--even if that means winding up with less of a gain.
European shares closed lower on Friday on what was a relatively light day of trading due to the American Fourth of July holiday and the closure of trading on Wall Street.
On Monday August 13, 2012, the VIX closed at 13.70, a level that indicates relatively low volatility.
Google hopes--though it will take a year or more to find out--that the economics of a cheaper, easily re-engineered handset will create a phone-development environment far different from today's proprietary closed models--in which a small number of service providers dictate to relatively few manufacturers what they want on their custom-designed models--and closer to the "fast and cheap" Internet design model.
Markets closed almost where they started last week, but again we saw some divergence with relatively strong and weak stocks.
FORBES: Stocks Flat At Monday's Open But Still Looking Strong
After all, loans remain one of the few asset classes that offer retail investors relatively wide distributions, with open-end funds paying yields of 4.5-5% and closed-end funds that use leverage paying 6-7%.
FORBES: Loan Market Technicals Cool In Late September, But Tone Stays Strong
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