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Determining Factors of Czech Foreign Trade: A Cross-Section Time Series Perspective

Author

Listed:
  • Vladimir Benacek
  • Jiri Podpiera
  • Ladislav Prokop

Abstract

By quantifying the determining factors of Czech trade during 1993-2002, this paper enriches the empirical trade literature with evidence from an economy that has undergone intensive structural changes. Our findings lend significance to standard macroeconomic variables such as aggregate demand and the real exchange rate. Apart from these, however, liberalisation of tariffs, the evolution of unit prices of exports and imports, and economies of scale also played a significant role. An out-of-sample forecast for the trade balance was carried out for 2003-2004.

Suggested Citation

  • Vladimir Benacek & Jiri Podpiera & Ladislav Prokop, 2005. "Determining Factors of Czech Foreign Trade: A Cross-Section Time Series Perspective," Working Papers 2005/03, Czech National Bank.
    • Handle: RePEc:cnb:wpaper:2005/03
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    File URL: https://www.cnb.cz/export/sites/cnb/en/economic-research/.galleries/research_publications/cnb_wp/cnbwp_2005_03.pdf
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    References listed on IDEAS

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    8. Vladimir Benacek & Ladislav Prokop & Jan A. Visek, 2003. "Determining Factors of the Czech Foreign Trade Balance: Structural Issues in Trade Creation," Working Papers 2003/03, Czech National Bank.
    9. Jesus Felipe & J. S. L. McCombie, 2003. "Some methodological problems with the neoclassical analysis of the East Asian miracle," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 27(5), pages 695-721, September.
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    11. Xiaohui Liu & Chang Shu, 2003. "Determinants of Export Performance: Evidence from Chinese Industries," Economic Change and Restructuring, Springer, vol. 36(1), pages 45-67, March.
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    Citations

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    Cited by:

    1. Richard Frensch & Jan Hanousek & Evžen Kočenda, 2013. "Obchod s fiskálními statky v Evropské unii: Analýza za pomoci gravitačního modelu [Trade with Final Goods in European Union: A Gravity Model Approach]," Politická ekonomie, Prague University of Economics and Business, vol. 2013(6), pages 715-734.
    2. Jan Babecky & Oxana Babetskaia-Kukharchuk & Kamil Galuscak & Dana Hajkova & Jaroslav Hermanek & Tomas Holub & Roman Horvath & Petr Jakubik & Lubos Komarek & Zlatuse Komarkova & Petr Kral & Filip Novot, 2008. "Analyses of the Czech Republic's Current Economic Alignment with the Euro Area 2008," Occasional Publications - Edited Volumes, Czech National Bank, number as08 edited by Dana Hajkova, January.
    3. Karel Janda, 2008. "Government Support of the Czech Export Credit [Státní podpora českých vývozních úvěrů]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2008(1), pages 62-75.
    4. Robert Ambrisko & Katerina Arnostova & Oxana Babecka Kucharcukova & Jan Babecky & Jan Bruha & Kamil Galuscak & Adam Gersl & Dana Hajkova & Tomas Holub & Narcisa Liliana Kadlcakova & Lubos Komarek & Zl, 2010. "Analyses of the Czech Republic's Current Economic Alignment with the Euro Area 2010," Occasional Publications - Edited Volumes, Czech National Bank, number as10 edited by Dana Hajkova & Romana Zamazalova, January.
    5. Joseph F. Francois & Julia Wörz, 2011. "Shifts in International Trade and Value Added from 1995 to 2007: Insights into the Drivers of Growth," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 3, pages 37-56.

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    More about this item

    Keywords

    Dynamic estimation; export and import dynamics; trade determinants.;
    All these keywords.

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

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