The Effectiveness of Preferential Trade Liberalization in Central and Eastern Europe
After the collapse of communism in Central and Eastern Europe (CEE) many countries in the region radically liberalized their foreign trade regimes in the 1990s. In particular preferential trade liberalization in the CEE countries has been promoted by the European Union in the form of the association agreements that involved “vertical” trade liberalization between the EU and countries in Central and Eastern Europe. In addition to this the CEE countries liberalized trade “horizontally” among themselves in the form of sub-regional and bilateral free trade agreements. In this paper, we use the generalized gravity equation estimated on bilateral trade data for ten CEE countries during the period of 1993-2004 to evaluate the effectiveness of preferential trade liberalization in Central and Eastern Europe. We find that all forms of preferential trade liberalization positively contributed to the expansion of trade of the CEE countries but their impact was country specific.
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- Piazolo, Daniel, 1997. "Trade Integration between Eastern and Western Europe: Policies Follow the Market," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 12, pages 259-297.
- Luca De Benedictis & Roberta De Santis & Claudio Vicarelli, 2005.
"Hub-and-Spoke or else? Free trade agreements in the 'enlarged' European Union,"
European Journal of Comparative Economics,
Cattaneo University (LIUC), vol. 2(2), pages 245-260, December.
- Luca De Benedictis & Roberta De Santis & Claudio Vicarelli, 2005. "Hub-and-Spoke or else? Free trade agreements in the “enlarged” European Union," ISAE Working Papers 52, ISTAT - Italian National Institute of Statistics - (Rome, ITALY).
- Antonis Adam & James McHugh & Theodora Kosma, 2003. "Trade Liberalization Strategies; What Could South Eastern Europe Learn From Cefta and Bfta?," IMF Working Papers 03/239, International Monetary Fund. Full references (including those not matched with items on IDEAS)
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