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Economic Integration between the European Union and the Transition Economies of Central European Initiative Countries

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  • Panagiotis Liargovas
  • Dionysios Chionis

Abstract

In this article we examine the main factors influencing trade and FDI flows between the transition countries of the Central European Initiative (CEI) and the EU member states. We distinguish three groups of CEI countries, according to the degree of trade and FDI integration with the EU: the 'fast mover' countries, the 'next tier' countries and the 'slow movers'. By estimating a number of trade and FDI equations we were able to locate the significance of alternative variables which affect the flows of trade between the CEI countries and the EU. According to our results, the low volume of trade and FDI between the 'next tier' and 'slow movers' of the CEI region, on one hand, and the EU, on the other, is a reflection of the fact that these particular countries have not yet achieved adequate institutional and economic reform while, at the same time, privatisation has not progressed as much.

Suggested Citation

  • Panagiotis Liargovas & Dionysios Chionis, 2001. "Economic Integration between the European Union and the Transition Economies of Central European Initiative Countries," Post-Communist Economies, Taylor & Francis Journals, vol. 13(1), pages 57-70.
    • Handle: RePEc:taf:pocoec:v:13:y:2001:i:1:p:57-70
    DOI: 10.1080/14631370020031513
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    References listed on IDEAS

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    1. de Melo, Martha & Denizer, Cevdet & Gelb, Alan, 1996. "Patterns of Transition from Plan to Market," The World Bank Economic Review, World Bank, vol. 10(3), pages 397-424, September.
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    3. Liargovas, Panagiotis & Papazoglou, Christos, 1999. "An Analysis of Trade Relations between the European Union and the Transition Economies of Central and Eastern Europe," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 14, pages 651-664.
    4. Bergstrand, Jeffrey H, 1985. "The Gravity Equation in International Trade: Some Microeconomic Foundations and Empirical Evidence," The Review of Economics and Statistics, MIT Press, vol. 67(3), pages 474-481, August.
    5. Havrylyshyn, Oleh & Pritchett, Lant, 1991. "European trade patterns after the transition," Policy Research Working Paper Series 748, The World Bank.
    6. Papazoglou, Christos & Liargovas, Panagiotis, 1997. "An Assessment of Foreign Direct Investment Towards the BSEC Transition Economies," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 50(3), pages 475-487.
    7. de Melo, Martha & Denizer, Cevdet & Gelb, Alan, 1996. "From plan to market : patterns of transition," Policy Research Working Paper Series 1564, The World Bank.
    8. Ann Harrison & Ana Revenga, 1995. "The Effects of Trade Policy Reform: What Do We Really Know?," NBER Working Papers 5225, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Sardor Tadjiev & Pierre-Yves Donze, 2021. "The Development of the Automotive Industry in Post-Soviet Countries since 1991," Eurasian Journal of Business and Management, Eurasian Publications, vol. 9(2), pages 164-183.

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