Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/290509 
Year of Publication: 
2022
Citation: 
[Journal:] Naše gospodarstvo / Our Economy [ISSN:] 2385-8052 [Volume:] 68 [Issue:] 1 [Year:] 2022 [Pages:] 14-24
Publisher: 
Sciendo, Warsaw
Abstract: 
This research is concerned with the comparative analysis of competitive trade within the cluster market economies of the European Union. The aim of this paper is to carry out trade analysis within the competing countries in the European market from 2009 to 2018 which represents the period after the global crisis of 2008 and prior to the Covid-19 pandemic of 2019 for the purpose of determining the extent of competitive trade within the European economies. The chosen metric is Béla Balassa's Revealed Comparative Advantage (RCA) index used for determining various countries' comparative advantage or disadvantage in trade. The findings show that the countries with RCA > 1 thrive economically in comparison to other competing lower economies. And the fact that the European Union economy thrives on mechanized trade other than agricultural products irrespective of the competitive market. This study is a significant contribution towards improving the Ricardian model of comparative advantage on trade within a cluster market in the European economies.
Subjects: 
competitiveness
revealed comparative advantage
international trade
JEL: 
P51
C82
F14
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

Files in This Item:
File
Size
391.48 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.