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Economic Effects of Free Trade between the EU and Russia

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Author Info
Pekka Sulamaa (ETLA, the Research Institute of the Finnish Economy)
Mika Widgrén (ETLA, the Research Institute of the Finnish Economy)

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Abstract

This study simulates the economic effects of eastern enlargement of the EU and an EU-Russian free trade area. The main emphasis of the paper is on the effect this would have on the Russian economy. The simulations were carried out with a GTAP computable general equilibrium model, using the most recent GTAP database 6.0 beta, which takes the former Europe agreements between the EU-15 and the eight new Central and Eastern European member states into account. The results confirm the earlier findings that a free trade agreement with the EU is beneficial for Russia in terms of total output but not necessarily in terms of economic welfare when measured by equivalent variation. The main reason behind this is the deterioration that would occur in Russia’s terms of trade. Improved productivity in Russia would, however, make the free trade agreement with the EU advantageous.

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Publisher Info
Paper provided by European Network of Economic Policy Research Institutes in its series Economics Working Papers with number 036.

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Length: 18 pages
Date of creation: May 2005
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Handle: RePEc:epr:enepwp:036

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Related research
Keywords: EU Russia free trade integration

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Find related papers by JEL classification:
F15 - International Economics - - Trade - - - Economic Integration
F17 - International Economics - - Trade - - - Trade Forecasting and Simulation

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    Other versions:
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ville Kaitila, 2007. "Free Trade between the EU and Russia - Sectoral Effects and Impacts on Northwest Russia," Discussion Papers 1087, The Research Institute of the Finnish Economy. [Downloadable!]
  2. Stefan Napel & Mika Widgrén, 2006. "The European Commission - Appointment, Preferences and Institutional Relations," Discussion Papers 999, The Research Institute of the Finnish Economy. [Downloadable!]
    Other versions:
  3. Ewa Balcerowicz, 2006. "Poland´s Enterprise Environment - A Polish View," Discussion Papers 998, The Research Institute of the Finnish Economy. [Downloadable!]
  4. Petri Böckerman & Edvard Johansson & Ritva Prättälä & Antti Uutela, 2005. "Alcohol mortality, drinking behaviour, and business cycles: are slumps really dry seasons?," HEW 0506002, EconWPA. [Downloadable!]
    Other versions:
  5. Aija Leiponen, 2005. "Clubs and Standards: The Role of Industry Consortia in Standardization of Wirelelss Telecommunications," Discussion Papers 997, The Research Institute of the Finnish Economy. [Downloadable!]
  6. Pekka Sulamaa & Mika Widgrén, 2005. "Economic Effects of Free Trade between the EU and Russia," Discussion Papers 969, The Research Institute of the Finnish Economy. [Downloadable!]
    Other versions:
  7. Jyrki Ali-Yrkkö, 2005. "Impact of Public R&D Financing on Employment," Discussion Papers 980, The Research Institute of the Finnish Economy. [Downloadable!]
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This page was last updated on 2008-8-11.

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