Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/104287
Authors: 
Beckmann, Elisabeth
Fidrmuc, Jarko
Year of Publication: 
2009
Series/Report no.: 
Munich Discussion Paper 2009-12
Abstract: 
We analyse trade between countries of the Council of Mutual Economic Assistance in Eastern Europe between 1950 and 1990. Despite central planning and political motivation of the CMEA, we show that trade could be explained by standard demand factors surprisingly well. Moreover, we document that the oil price crisis had several repercussions on Eastern Europe. The Soviet Union as a supplier of crude oil benefited from the energy crisis in the 1970s. In particular, it used energy exports as an instrument of foreign policy. In turn, the responses of the individual CMEA countries in Central Europe were largely different.
Subjects: 
economic history
free trade areas
political economy
structural break
gravity model
oil price
CMEA trade
JEL: 
F14
C22
N74
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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