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Gravity Approach For Modeling Trade Flows Between Estonia And The Main Trading Partners

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  • Tiiu Paas

Abstract

The advantages of using gravity approach for modeling transition processes in foreign trade are the ability of gravity models to explain international trade pattern under the conditions of comparatively little amount of data and validity of theoretical background of the model to the economies in transition. The both advantages are important when modeling transit ion processes. The results of the use gravity approach to explore international trade pattern of Estonia as a country with a small, open and comparatively successful transitional economy allow us to conclude that economies in transition should look for a regional niche to penetrate into the world market. Estonia has an excellent potential to develop trade relations within the Baltic Sea region countries. Estonia’s situation is certainly not unique, and conclusions presented in this paper could be applied to analysis of international trade pattern in other economies in transition.

Suggested Citation

  • Tiiu Paas, 2000. "Gravity Approach For Modeling Trade Flows Between Estonia And The Main Trading Partners," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 4, Faculty of Economics and Business Administration, University of Tartu (Estonia).
    • Handle: RePEc:mtk:febawb:04
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    Citations

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    Cited by:

    1. Roe, Terry, 2001. "Economic Growth and Global Economic Analysis: Use Of The New Growth Theory," Conference papers 330897, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    2. Ehrlich, Laura, 2002. "The EU Single Market and Customs Policy: Impact on Estonian Foreign Trade," Discussion Papers 797, The Research Institute of the Finnish Economy.
    3. Jinhwan Oh & Orgilbold Tumurbaatar, 2011. "Mongolia's International Trade: Impact of Its Geographical Location," Working Papers EMS_2011_02, Research Institute, International University of Japan.
    4. Nguyen Thi Ha TRANG & Nguyen Thi Thanh TAM & Vu Hoang NAM, 2011. "An inquiry into the determinants of Vietnamese product export," Working Papers 08, Development and Policies Research Center (DEPOCEN), Vietnam.
    5. Narayan, Seema & Nguyen, Tri Tung, 2016. "Does the trade gravity model depend on trading partners? Some evidence from Vietnam and her 54 trading partners," International Review of Economics & Finance, Elsevier, vol. 41(C), pages 220-237.
    6. Sõrg, Mart, 2007. "Estonia's high current account deficit has special reasons," Wirtschaftswissenschaftliche Diskussionspapiere 13/2007, University of Greifswald, Faculty of Law and Economics.
    7. E. Vakulenko & N. Mkrtchyan & K. Furmanov, 2011. "Econometric Analysis Of Internal Migration In Russia," Montenegrin Journal of Economics, Economic Laboratory for Transition Research (ELIT), vol. 7(2), pages 21-33.
    8. wani, Nassir ul & dhami, Jasdeep kaur, 2016. "Trade Potential of India against BRCS Economies: An empirical analysis based on Gravity Model," MPRA Paper 91785, University Library of Munich, Germany, revised 10 Feb 2017.
    9. Jari Jumpponen & Kari Liuhto & Mart Sırg & Vello Vensel, 2004. "Banksí Internationalization: Estonian and Russian Banksí Expansion to the Foreign Markets," Working Papers 109, Tallinn School of Economics and Business Administration, Tallinn University of Technology.
    10. Rahman, Mohammad Mafizur, 2005. "The Determinants of Bangladesh's Trade: Evidence from the Generalized Gravity Model," Working Papers 3, University of Sydney, School of Economics.
    11. Nashwan M. A. Saif & Jianping Ruan & Bojan Obrenovic, 2021. "Sustaining Trade during COVID-19 Pandemic: Establishing a Conceptual Model Including COVID-19 Impact," Sustainability, MDPI, vol. 13(10), pages 1-20, May.

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