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Implications of the European integration: revisiting the hypothesis of ‘hub-and-spokes’ model

Author

Listed:
  • Tinatin Akhvlediani

    (Faculty of Economic Sciences, University of Warsaw, Warsaw, Poland)

  • Katarzyna Sledziewska

    (Faculty of Economic Sciences, University of Warsaw, Warsaw, Poland)

Abstract

Already in 1994, Baldwin predicted the formation of the ‘hub-and-spokes’ model to describe the outcomes of economic integration across the European Union (EU) implying marginalization of the new EU member states. We examine the validity of this hypothesis by putting an emphasis on Visegrad group of countries (The Visegrad four (V-4): Poland, the Czech Republic, Slovakia and Hungary) and investigate the impact of the European integration scheme on their export performances. To conduct the analysis, we estimate the augmented gravity model for the panel data of the exports of V-4 with the rest of the world by employing pseudo-Poisson maximum likelihood estimator. Estimation results do not favour the creation of the ‘hub-and-spokes’ model, but rather demonstrate that integration within the EU was quite beneficial for V-4 without giving the origin neither to their peripherization nor to the loss of markets of the natural trade partners.

Suggested Citation

  • Tinatin Akhvlediani & Katarzyna Sledziewska, 2017. "Implications of the European integration: revisiting the hypothesis of ‘hub-and-spokes’ model," Baltic Journal of Economics, Baltic International Centre for Economic Policy Studies, vol. 17(1), pages 45-56.
    • Handle: RePEc:bic:journl:v:17:y:2017:i:1:p:45-56
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    File URL: http://www.tandfonline.com/doi/full/10.1080/1406099X.2017.1298876
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    Cited by:

    1. Ngo Thai HUNG, 2020. "Conditional dependence between oil prices and CEE stock markets: a copula-GARCH approach Abstract: This study investigates both the constant and time-varying conditional dependency between crude oil a," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 11, pages 62-86, June.
    2. Lee, Siu Ming & Adam, Radziah & Tuan Lonik, Ku’ Azam, 2020. "The Effects of Tax and Promotion on Rubber Medical Devices Export," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 54(2), pages 29-40.

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