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Greece’s Trade With The Balkan Countries: Is It Too Little?

Author

Listed:
  • Liargovas, Panagiotis

    (University of Thessaly)

  • Chionis, Dionysios

    (University of Thessaly)

Abstract

In this paper we use a gravity model in order to estimate the magnitude of potential trade flows between Greece and nine Balkan countries. We adopt a two stage approach. At the first stage the coefficients of the gravity model for the implemented trade between Greece and thirty trade partners are estimated by using the method of Seemingly Unrelated Regression (SUR). At the subsequent step, we implement a research exercise by incorporating the estimated parameters to a gravity equation of Greece and the Balkan countries. It appears that Greece is “under-trading” with all the countries in the reference sample. The ratio of actual over potential exports/imports is less than unity in all cases. Under-trading is more pronounced in the case of imports, where the actual value approaches almost two per cent of the potential.

Suggested Citation

  • Liargovas, Panagiotis & Chionis, Dionysios, 2002. "Greece’s Trade With The Balkan Countries: Is It Too Little?," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 17, pages 608-622.
    • Handle: RePEc:ris:integr:0211
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    Cited by:

    1. Ahn, Hannah & Ribera, Luis A., 2016. "The Effects of Border Violence on U.S.-Mexican Cattle Trade," 2016 Annual Meeting, February 6-9, 2016, San Antonio, Texas 229701, Southern Agricultural Economics Association.
    2. Sophia P. Dimelis, 2004. "Prospects for the Greek Economy in the Post‐enlargement Era," The World Economy, Wiley Blackwell, vol. 27(6), pages 803-827, June.

    More about this item

    Keywords

    Gravity Model; Greece; Balkans;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation

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