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Austria's EU Accession and Trade

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Abstract

This contribution discusses the development of Austria's trade with the European Union. First, a descriptive analysis shows that Austrian exports to the European Union were adversely affected by trade barriers during the 1980s and in the first half of the 1990s. As a result, Austria's market shares in the European Union declined steadily until 1995. Second, a gravity model for a panel of OECD countries confirms positive trade liberalization effects after the country's accession to the EU. More recently, the introduction of the euro in 1999 seems to have given a new impetus to trade flows between Austria and the countries of the euro area.

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  • Jarko Fidrmuc, 2005. "Austria's EU Accession and Trade," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 2, pages 170-177.
  • Handle: RePEc:onb:oenbmp:y:2005:i:2:b:12
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    File URL: https://www.oenb.at/dam/jcr:2c0c9a3f-1e03-4a50-a47d-e43c87b18d06/mop_e_02_05_analyses12_tcm16-30251.pdf
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    1. Jan Fidrmuc & Jarko Fidrmuc, 2003. "Disintegration and Trade," Review of International Economics, Wiley Blackwell, vol. 11(5), pages 811-829, November.
    2. 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.
    3. Hamid Faruqee, 2004. "Measuring the Trade Effects of EMU," IMF Working Papers 04/154, International Monetary Fund.
    4. Matthieu Bussière & Jarko Fidrmuc & Bernd Schnatz, 2005. "Trade Integration of Central and Eastern European Countries: Lessons from a Gravity Model," Working Papers 105, Oesterreichische Nationalbank (Austrian Central Bank).
    5. Andrew K. Rose, 1999. "One Money, One Market: Estimating the Effect of Common Currencies on Trade," NBER Working Papers 7432, National Bureau of Economic Research, Inc.
    6. Laszlo Matyas, 1997. "Proper Econometric Specification of the Gravity Model," The World Economy, Wiley Blackwell, vol. 20(3), pages 363-368, May.
    7. Fritz Breuss, 2003. "Österreich, Finnland und Schweden in der EU – Wirtschaftliche Auswirkungen," WIFO Working Papers 200, WIFO.
    8. I-Hui Cheng & Howard J. Wall, 2005. "Controlling for heterogeneity in gravity models of trade and integration," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 49-63.
    9. 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.
    10. Fritz Breuss, "undated". "Statische und dynamische Effekte der bisherigen Europa-Integration Österreichs," WIFO Working Papers 50, WIFO.
    11. Peter Egger, 2004. "Estimating regional trading bloc effects with panel data," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 140(1), pages 151-166, March.
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    Keywords

    Trade; Austria; EU Accession;

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