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Title:Modeling international trade flows between CEEC and OECD countries PDF Logo
Authors:Rault, Christophe
Sova, Robert
Sova, Anamaria
Issue Date:2008
Series/Report no.:CESifo working paper 2282
Abstract:This article deals with econometric developments for the estimation of gravity model, which allow to get convergent parameter estimates even when a correlation exists between the explanatory variables and the specific unobservable characteristics of each individual. We implement panel data econometric techniques to characterize bilateral trade flows between heterogeneous economies. Our econometric results based on a sample of 4 Central and Eastern European countries (CEEC-4) and 19 OECD countries over a 18-year period highlight the importance by taking into account the unobservable heterogeneity to obtain a robust empirical specification and unbiased coefficients.
Subjects:gravity models
unobservable heterogeneity
panel data models
international trade flows
JEL:F13
F15
C23
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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