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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/46244
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| Title: | | Europe agreements and trade balance: Evidence from four new EU members  |
| Authors: | | Caporale, Guglielmo Maria Rault, Christophe Sova, Robert Sova, Anamaria |
| Issue Date: | | 2011 |
| Series/Report no.: | | CESifo working paper: Trade Policy 3340 |
| Abstract: | | This paper analyses the trade balance effects of Europe agreements (EA) between the EU-15 and four new EU members from Central and Eastern Europe (CEEC-4) using both static and dynamic panel data approaches. Specifically, the system Generalized Method of Moments (GMM, Blundell and Bond, 1998) and recently developed econometric methods such as the Correlated Common Estimation Pooled - Hausman-Taylor (CCEPHT, Serlenga and Shin, 2007) are applied to analyse the effects of the agreement variable. Our estimation results indicate a positive and significant impact of EA on trade flows. However, there is an asymmetric impact of the agreement variable on the trade balance, exports and imports being affected in different ways, which results in a trade balance deficit in the CEEC-4. |
| Subjects: | | regionalisation trade flows trade balance panel data methods |
| JEL: | | E61 F13 F15 C25 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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