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The Impact of Trade Flows on Economic Development in the Black Sea region

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  • Murăraşu Ioan-Cătălin

    (1 Bucharest University of Economic Studies, Bucharest, Romania)

Abstract

Research carried out before shows that, although only exports contribute directly to GDP growth, the actual impact of imports on it is not necessarily negative. The increase in the value of imports shows an increase in demand in the domestic market, hence a better purchasing power and standard of living than in some of the exporting countries. Practice shows that many of the poor countries are dependent on exports, which usually consist in raw materials or products without much added value, while the most developed countries have negative trade balances.

Suggested Citation

  • Murăraşu Ioan-Cătălin, 2023. "The Impact of Trade Flows on Economic Development in the Black Sea region," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 17(1), pages 266-275, July.
    • Handle: RePEc:vrs:poicbe:v:17:y:2023:i:1:p:266-275:n:30
    DOI: 10.2478/picbe-2023-0028
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    References listed on IDEAS

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    1. Galya VLADOVA & Jörg KNIELING, 2014. "Potential and challenges for the Black Sea regional cooperation," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 5, pages 39-66, June.
    2. Robert E. Lipsey, 2004. "Home- and Host-Country Effects of Foreign Direct Investment," NBER Chapters, in: Challenges to Globalization: Analyzing the Economics, pages 333-379, National Bureau of Economic Research, Inc.
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