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La nouvelle politique de voisinage de l'Union européenne. Une estimation des potentiels de commerce

  • Nicolas Péridy

This article is devoted to the assessment of the new eu neighbourhood policy, relying on the calculation of trade potentials. It is based on the new theoretical developments of gravity models, concerning in particular trade costs. The model is subsequently estimated by using two estimators : Hausman and Taylor (static) and Arellano, Bond and Bover (dynamic). This allows the calculation of trade potentials. The main result indicates that most of the new neighbours enjoy a significant trade potential with the eu. However, this potential is limited for some countries which have already liberalized their trade with the eu. These are mainly Israel as well as candidate countries (Bulgaria, Romania and Turkey), in addition to Maghreb countries. Another result shows that the trade potential does not differ very much whether we assume or not the implementation of the “acquis communautaire” with the new neighbours. Classification JEL : F14, F15, F17

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Article provided by Presses de Sciences-Po in its journal Revue économique.

Volume (Year): 57 (2006)
Issue (Month): 4 ()
Pages: 727-746

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Handle: RePEc:cai:recosp:reco_574_0727
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  1. Peter Egger & Michael Pfaffermayr, 2003. "The proper panel econometric specification of the gravity equation: A three-way model with bilateral interaction effects," Empirical Economics, Springer, vol. 28(3), pages 571-580, July.
  2. Feenstra, Robert C, 2002. "Border Effects and the Gravity Equation: Consistent Methods for Estimation," Scottish Journal of Political Economy, Scottish Economic Society, vol. 49(5), pages 491-506, December.
  3. Andrew K. Rose & Eric van Wincoop, 2001. "National Money as a Barrier to International Trade: The Real Case for Currency Union," American Economic Review, American Economic Association, vol. 91(2), pages 386-390, May.
  4. Péridy Nicolas, 2005. "Trade Prospects of the New EU Neighborhood Policy: Evidence from Hausman and Taylor's Models," Global Economy Journal, De Gruyter, vol. 5(1), pages 1-27, March.
  5. James E. Anderson & Eric van Wincoop, 2003. "Gravity with Gravitas: A Solution to the Border Puzzle," American Economic Review, American Economic Association, vol. 93(1), pages 170-192, March.
  6. Peter Egger, . "On the Problem of Endogenous Unobserved Effects in the Estimation of Gravity Models," WIFO Working Papers 132, WIFO.
  7. James E. Anderson & Eric van Wincoop, 2004. "Trade Costs," NBER Working Papers 10480, National Bureau of Economic Research, Inc.
  8. Baldwin, Richard & Krugman, Paul, 1989. "Persistent Trade Effects of Large Exchange Rate Shocks," The Quarterly Journal of Economics, MIT Press, vol. 104(4), pages 635-54, November.
  9. Arellano, Manuel & Bover, Olympia, 1995. "Another look at the instrumental variable estimation of error-components models," Journal of Econometrics, Elsevier, vol. 68(1), pages 29-51, July.
  10. Shang-Jin Wei, 1996. "Intra-National versus International Trade: How Stubborn are Nations in Global Integration?," NBER Working Papers 5531, National Bureau of Economic Research, Inc.
  11. Peter Egger, 2002. "An Econometric View on the Estimation of Gravity Models and the Calculation of Trade Potentials," The World Economy, Wiley Blackwell, vol. 25(2), pages 297-312, 02.
  12. Anderson, James E, 1979. "A Theoretical Foundation for the Gravity Equation," American Economic Review, American Economic Association, vol. 69(1), pages 106-16, March.
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