L’approccio del ciclo di vita del prodotto: aspetti teorici e applicazione all’integra¬zione tra Comunità Europea e paesi dell’Europa centro-orientale - The product life cycle approach: theoretical issues and application to the trade flows between the European Union and the Central and Eastern European countries

While the theoretical structure of the product life cycle approach is the same as in the traditional doctrine of international trade, based on the hypothesis of full employment of factors, its empirical application is useful in explaining the composition of exports from the countries of Central and Eastern Europe towards the EU and in suggesting policies for their development. However, the uncertainty of the transformation process distinguishes these countries from the other NIC’s; a game theoretical model analyses the incentives to postpone foreign investment in the hope of acquiring better information. As a consequence of this, the EU policies are not fully adequate to the growth process.