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Verification of the New Trade Theory in EU's Trade with CEECs

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  • Fidrmuc, Jarko

    (Institute for Advanced Studies, Vienna)

Abstract

The new trade theory explains several features of the current development of EU's trade with CEECs better than the Heckscher-Ohlin model. In 1997, CEECs participated in the European economy with levels of intraindustry trade comparable to peripheral EU countries. However, this induced increased specialization in EU countries, which contrasts with the development in the previous decades. The development of intraindustry trade is positively related to the growth of wages and negatively to interest rates.

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File URL: http://www.ihs.ac.at/publications/eco/es-72.pdf
File Function: First version, 1999
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Bibliographic Info

Paper provided by Institute for Advanced Studies in its series Economics Series with number 72.

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Length: 19 pages
Date of creation: Sep 1999
Date of revision:
Handle: RePEc:ihs:ihsesp:72

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Related research

Keywords: New trade theory; Intraindustry trade; Kernel estimates of distribution; Fixed effects model;

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References

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  1. David Hummels & James Levinsohn, 1993. "Monopolistic Competition and International Trade: Reconsidering the Evidence," NBER Working Papers 4389, National Bureau of Economic Research, Inc.
  2. Krugman, Paul R, 1981. "Intraindustry Specialization and the Gains from Trade," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 959-73, October.
  3. Marius Brülhart, 1994. "Marginal intra-industry trade: Measurement and relevance for the pattern of industrial adjustment," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 130(3), pages 600-613, September.
  4. Dixit, Avinash K & Stiglitz, Joseph E, 1975. "Monopolistic Competition and Optimum Product Diversity," The Warwick Economics Research Paper Series (TWERPS) 64, University of Warwick, Department of Economics.
  5. Falvey, Rodney E., 1981. "Commercial policy and intra-industry trade," Journal of International Economics, Elsevier, vol. 11(4), pages 495-511, November.
  6. Hoekman, Bernard & Djankov, Simeon, 1997. "Determinants of the Export Structure of Countries in Central and Eastern Europe," World Bank Economic Review, World Bank Group, vol. 11(3), pages 471-87, September.
  7. Rudolf Loertscher & Frank Wolter, 1980. "Determinants of intra-industry trade: Among countries and across industries," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 116(2), pages 280-293, June.
  8. Jarko Fidrmuc & Daniela Grozea-Helmenstein & Andreas Wörgötter, 1999. "East-west intra-industry trade dynamics," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 135(2), pages 332-346, June.
  9. Grubel, Herbert G & Lloyd, P J, 1971. "The Empirical Measurement of Intra- Industry Trade," The Economic Record, The Economic Society of Australia, vol. 47(120), pages 494-517, December.
  10. Krugman, Paul, 1980. "Scale Economies, Product Differentiation, and the Pattern of Trade," American Economic Review, American Economic Association, vol. 70(5), pages 950-59, December.
  11. Chonira Aturupane & Simeon Djankov & Bernard Hoekman, 1999. "Horizontal and vertical intra-industry trade between Eastern Europe and the European union," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 135(1), pages 62-81, March.
  12. Krugman, Paul, 1991. "History versus Expectations," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 651-67, May.
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Citations

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Cited by:
  1. Jarko Fidrmuc & Peter Huber & Jan Jakub Michalek, . "Poland's Accession to the European Union: Demand for Protection of Selected Sensitive Products," WIFO Working Papers 117, WIFO.
  2. Dražen Derado, 2008. "Effects of Trade Liberalization in Croatia: An Approximation of the Integration Effects with the EU," Zagreb International Review of Economics and Business, Faculty of Economics and Business, University of Zagreb, vol. 11(1), pages 81-96, May.
  3. Dumitru, Ionut, 2009. "Adoptarea euro in Romania
    [Euro adoption in Romania]
    ," MPRA Paper 18612, University Library of Munich, Germany.
  4. Fidrmuc, Jarko, 2001. "The Endogeneity of optimum currency area criteria, intraindustry trade and EMU enlargement," BOFIT Discussion Papers 8/2001, Bank of Finland, Institute for Economies in Transition.

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