Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212531 
Year of Publication: 
2003
Series/Report no.: 
BOFIT Discussion Papers No. 17/2003
Publisher: 
Bank of Finland, Institute for Economies in Transition (BOFIT), Helsinki
Abstract: 
We calculate welfare gains of trade liberalization in the Central and East European transition economies, following the approach of Romer (1994), who emphasized that proper modeling of the impact of trade restrictions on the number of available product varieties is crucial to quantifying the welfare impact of trade liberalization. The empirical work relies on direct measures of product variety calculated from 5-digit trade data.Although the issue is far from settled, the emerging conclusion is that freer trade has boosted welfare. Trade Liberalization, Product Variety, Welfare, Transition Economies D60, F14, F15
JEL: 
D60
F14
F15
Persistent Identifier of the first edition: 
ISBN: 
951-686-882-7
Document Type: 
Working Paper

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