Verification of the New Trade Theory in EU's Trade with CEECs
AbstractThe 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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Bibliographic InfoPaper provided by Institute for Advanced Studies in its series Economics Series with number 72.
Length: 19 pages
Date of creation: Sep 1999
Date of revision:
Postal: Institute for Advanced Studies - Library, Stumpergasse 56, A-1060 Vienna, Austria
Find related papers by JEL classification:
- F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- F15 - International Economics - - Trade - - - Economic Integration
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