IDEAS home Printed from https://ideas.repec.org/a/onb/oenbfi/y2010i1b4.html
   My bibliography  Save this article

Trade, Economic Structure and the Great Recession: The Example of Central, Eastern and Southeastern Europe

Author

Listed:

Abstract

As measured by the most recent monthly data, the trade collapse that had started in late 2008 has shifted into a rapid recovery phase. The simplest explanation that fits the facts is that trade has followed the sectoral composition of the recession. The recession has caused particularly strong declines of trade flows in heavy manufacturing, i.e. machinery, vehicles and related raw materials. This has translated into a deep manufacturing recession and an even stronger drop in trade. In particular, for CESEE countries these sectors are far more important in the composition of trade than they are in the composition of GDP.

Suggested Citation

  • Joseph F. Francois & Julia Wörz, 2010. "Trade, Economic Structure and the Great Recession: The Example of Central, Eastern and Southeastern Europe," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 67-72.
  • Handle: RePEc:onb:oenbfi:y:2010:i:1:b:4
    as

    Download full text from publisher

    File URL: https://www.oenb.at/dam/jcr:dc66c3f7-329b-4149-9b82-748af05151f0/feei_2010_q1_studies_woerz_tcm16-186372.pdf
    Download Restriction: no

    References listed on IDEAS

    as
    1. Dirk WILLENBOCKEL & Sherman ROBINSON, "undated". "The Global Financial Crisis, LDC Exports and Welfare: Analysis with a World Trade Model," EcoMod2009 21500092, EcoMod.
    2. Marcel P. Timmer & Mary O’Mahony & Bart van Ark, 2007. "EU KLEMS Growth and Productivity Accounts: An Overview," International Productivity Monitor, Centre for the Study of Living Standards, vol. 14, pages 71-85, Spring.
    3. Freund, Caroline, 2009. "The trade response to global downturns : historical evidence," Policy Research Working Paper Series 5015, The World Bank.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    trade collapse; industrial structure; Central; Eastern and Southeastern Europe;

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

    Statistics

    Access and download statistics

    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:onb:oenbfi:y:2010:i:1:b:4. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Markus Eller). General contact details of provider: http://edirc.repec.org/data/oenbbat.html .

    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 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.

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

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.