IDEAS home Printed from https://ideas.repec.org/a/dug/journl/y2017i1p21-33.html
   My bibliography  Save this article

Direction of Serbian Trade: Gravity Model Based on Pool Data

Author

Listed:
  • Vladimir Ristanovic

    (Faculty of Business Economics and Entrepreneurship)

  • Dusan Cogoljevic

    (Faculty of Business Economics and Entrepreneurship)

  • Sinisa Barjaktarevic

    (Public Policy Secretariat)

Abstract

The objective of this paper is to evaluate the effects of bilateral trade between Serbia and EU countries in the period 2001-2015 on the basis of a gravity model. So far in research papers the gravity model has been used for the evaluation of effects of trade among different countries. The gravity model, which combines the cross-section data and the time-series data, has been estimated to the panel data. Estimated results based on a sample of 28 countries reveal that the economic size of foreign countries, the market size of trading partners (the number of inhabitants), and the geographical distance produce altogether huge effects on Serbia’s total trade and exports. Border and language factors have also been taken into account. The research leaves room for further scientific analyses and provides guidance for trade policy creators in analyses for directions of the Serbian trade. This research is based on complex econometric analyses and a recognised model, and shows that there is considerable room for the growth of bilateral trade between Serbia and EU.

Suggested Citation

  • Vladimir Ristanovic & Dusan Cogoljevic & Sinisa Barjaktarevic, 2017. "Direction of Serbian Trade: Gravity Model Based on Pool Data," EuroEconomica, Danubius University of Galati, issue 1(36), pages 21-33, May.
    • Handle: RePEc:dug:journl:y:2017:i:1:p:21-33
    as

    Download full text from publisher

    File URL: http://journals.univ-danubius.ro/index.php/euroeconomica/article/view/3632/3998
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Martinez-Zarzoso, Inmaculada & Nowak-Lehmann, Felicitas, 2003. "Augmented Gravity Model: An Empirical Application to Mercosur-European Union Trade Flows," Journal of Applied Economics, Universidad del CEMA, vol. 6(2), pages 1-26, November.
    2. Richard Baldwin, 2011. "Trade And Industrialisation After Globalisation's 2nd Unbundling: How Building And Joining A Supply Chain Are Different And Why It Matters," NBER Working Papers 17716, National Bureau of Economic Research, Inc.
    3. Marco Montanari, 2005. "EU Trade with the Balkans : Large Room for Growth?," Eastern European Economics, Taylor & Francis Journals, vol. 43(1), pages 59-81, January.
    4. Arvind Subramanian & Martin Kessler, 2013. "The Hyperglobalization of Trade and Its Future," Working Paper Series WP13-6, Peterson Institute for International Economics.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Zhijie Guan & Yue Zhang & Ip Ping Sheong Jim Kwee Fat, 2021. "Trade Relations Between Mauritius and China: A Gravity Model Approach," SAGE Open, , vol. 11(4), pages 21582440211, November.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bureau, Christophe & Guimbard, Houssein & Jean, Sebastien, 2016. "What Has Been Left to Multilateralism to Negotiate On?," Conference papers 332753, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    2. Jean-Christophe Bureau & Houssein Guimbard & Sébastien Jean, 2019. "Competing liberalizations: tariffs and trade in the twenty-first century," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 155(4), pages 707-753, November.
    3. Figueiredo, Erik & Lima, Luiz Renato & Loures, Alexandre & Oliveira, Celina, 2014. "Uma Análise para o Efeito-Fronteira no Brasil," Revista Brasileira de Economia - RBE, EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil), vol. 68(4), October.
    4. Shiro Armstrong, 2007. "Measuring Trade and Trade Potential: A Survey," Asia Pacific Economic Papers 368, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
    5. Valentine Fays & Benoît Mahy & François Rycx, 2023. "Wage differences according to workers' origin: The role of working more upstream in GVCs," LABOUR, CEIS, vol. 37(2), pages 319-342, June.
    6. Pedro E. Moncarz, 2010. "Determinantes del comercio de servicios financieros Potencial de exportaciones para los países sudamericanos," Documentos de trabajo 2010019, Banco Central del Uruguay.
    7. Peter J. Rimmer, 2014. "Asian-Pacific Rim Logistics," Books, Edward Elgar Publishing, number 12949.
    8. Fredy Cepeda-Lopez & Fredy Gamboa-Estrada & Carlos Leon-Rincón & Hernán Rincon-Castro, 2022. "Colombian Liberalization and Integration into World Trade Markets: Much Ado about Nothing," Revista de Economía del Rosario, Universidad del Rosario, vol. 25(2), pages 1-44, December.
    9. Li, Yilin & Chen, Bin & Li, Chaohui & Li, Zhi & Chen, Guoqian, 2020. "Energy perspective of Sino-US trade imbalance in global supply chains," Energy Economics, Elsevier, vol. 92(C).
    10. Fedoseeva, Svetlana, 2014. "Are Agri-food Exports any Special? Exchange Rate Nonlinearities in European Exports to the US," German Journal of Agricultural Economics, Humboldt-Universitaet zu Berlin, Department for Agricultural Economics, vol. 63(04), pages 1-12, December.
    11. Maria Cipollina & Luca Salvatici, 2010. "Reciprocal Trade Agreements in Gravity Models: A Meta‐Analysis," Review of International Economics, Wiley Blackwell, vol. 18(1), pages 63-80, February.
    12. Maurice Obstfeld, 2020. "Globalization Cycles," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 6(1), pages 1-12, March.
    13. Richard Pomfret & Richard Pomfret, 2014. "Expanding the Division of Labour: Trade Costs and Supply Chains in the Global Economy," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 54(3), pages 220-241, November.
    14. Benoît Mahy & François Rycx & Guillaume Vermeylen & Mélanie Volral, 2022. "Productivity and wage effects of firm‐level upstreamness: Evidence from Belgian linked panel data," The World Economy, Wiley Blackwell, vol. 45(7), pages 2222-2250, July.
    15. Ketan Reddy & Subash Sasidharan, 2021. "A Portrait of Global Value Chain Linkages of Indian Manufacturing," Journal of Asian Economic Integration, , vol. 3(2), pages 235-250, September.
    16. Fuenzalida-O'Shee, Darcy & Valenzuela-Klagges, Bárbara & Corvalán-Quiroz, Alejandro, 2018. "Trade facilitation and its effects on Chile’s bilateral trade between 2006 and 2014," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.
    17. Anderson, James E. & Vesselovsky, Mykyta & Yotov, Yoto V., 2016. "Gravity with scale effects," Journal of International Economics, Elsevier, vol. 100(C), pages 174-193.
    18. Emanuela Todeva & Ruslan Rakhmatullin, 2016. "Industry Global Value Chains, Connectivity and Regional Smart Specialisation in Europe. An Overview of Theoretical Approaches and Mapping Methodologies," JRC Research Reports JRC102801, Joint Research Centre.
    19. repec:rre:publsh:v:40:y:2010:i:3:p:287-301 is not listed on IDEAS
    20. repec:got:cegedp:30 is not listed on IDEAS
    21. Javeria Maryam & Ashok Mittal, 2019. "An empirical analysis of India’s trade in goods with BRICS," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 66(4), pages 399-421, December.
    22. Abban, Stanley & Ofori-Abebrese, Grace, 2019. "The Prospect Of ECOWAS Currency Union On Intra-Regional Trade," MPRA Paper 102226, University Library of Munich, Germany.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:dug:journl:y:2017:i:1:p:21-33. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Florian Nuta (email available below). General contact details of provider: https://edirc.repec.org/data/fedanro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.