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The integration of transition economies into the world trading system

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  • Michalopoulos, Constantine

Abstract

The author analyzes current trade policies and challenges faced by the transition economies - especially countries in the former soviet Union - as they are integrated into the world trading system. With few exceptions, transition economies in Central and Eastern Europe, including the Baltics, have been well integrated into the multilateral trading system. Their trade regimes differ - and the main challenges they face involve their integration into the European Union. Integration into the multilateral trading system, including progress toward membership in the World Trade Organization (WTO), varies significantly among the other countries of the former Soviet Union. Armenia, Georgia, the Kyrgyz Republic, and Moldova have adopted relatively liberal trade regimes and are either already members of the WTO or are close to it. These four countries need to strengthen the capacity of broad market-based (especially trade-related) institutions, including customs, the financial sector, and institutions to facilitate trade. The momentum for market and trade reform appearsto have stalled in some of the larger countries of the former Soviet Union: Kazakhstan, Russia, and Ukraine. Their trade regimes are not especially restrictive, but weak operations in fundamental market institutions inhibit their effective integration into the world trading system. These problems, together with persistent protective pressures, inhibit progress and accession to the WTO. The remaining countries in Central Asia, as well as Belarus, have far to go in introducing market-oriented reforms and institutions, and the kind of trade liberalization needed for integration into international trade. The countries of the former Soviet Union must make most of the reform and adjustment effort, but WTO members must make changes as well - especially the United States and the European Union. Both need to review their policies toward non-market economies on antidumping practices and (in the European Union) on safeguards. Countries where market decisions prevail should not be subjected to non-transparent and arbitrary procedures. In particular, countries that have been judged to be"market"economies in the process of gaining access to the WTO should be excluded from procedures applied for antidumping and safeguard measures in non-market economies.

Suggested Citation

  • Michalopoulos, Constantine, 1999. "The integration of transition economies into the world trading system," Policy Research Working Paper Series 2182, The World Bank.
    • Handle: RePEc:wbk:wbrwps:2182
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    References listed on IDEAS

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    Cited by:

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    2. Richard Pomfret, 2003. "Trade and Exchange Rate Policies in Formerly Centrally Planned Economies," The World Economy, Wiley Blackwell, vol. 26(4), pages 585-612, April.
    3. Eromenko, Igor & Mankovska, Nadiya & Dean, James W, 2003. "Will WTO membership really improve market access for Ukrainian exports?," MPRA Paper 67481, University Library of Munich, Germany.
    4. Oksana Harbuzyuk & Stefan Lutz, 2008. "Analyzing trade opening in Ukraine: effects of a customs union with the EU," Economic Change and Restructuring, Springer, vol. 41(3), pages 221-238, September.
    5. Paul G. Hare, 2000. "Trade Policy during the Transition. Lessons from the 1990s," CERT Discussion Papers 0006, Centre for Economic Reform and Transformation, Heriot Watt University.
    6. Clarete, Ramon L. & Edmonds, Christopher & Wallack, Jessica Seddon, 2002. "Asian Regionalism and Its Effects on Trade in the 1980s and 1990s," ADB Economics Working Paper Series 30, Asian Development Bank.
    7. Kaminski, Bartlomiej, 1999. "The EU factor in the trade policies of Central European countries," Policy Research Working Paper Series 2239, The World Bank.
    8. Isayenko Oleksiy & Shcherbakov Oleksandr, 2003. "The causes of increase in antidumping against transition economies," EERC Working Paper Series 00-466e, EERC Research Network, Russia and CIS.
    9. Richard Pomfret, 2000. "Regional Trade Arrangements and Economies in Transition: The Central Asian Countries," School of Economics and Public Policy Working Papers 2000-09, University of Adelaide, School of Economics and Public Policy.
    10. Mr. Marco Pani & Mr. Etibar Jafarov & Mr. Clinton R. Shiells, 2005. "Is Russia Still Driving Regional Economic Growth?," IMF Working Papers 2005/192, International Monetary Fund.
    11. N. Nuruzzaman & Ajai Gaur & Rakesh B. Sambharya, 2022. "WTO accession and firm exports in developing economies," Journal of International Business Policy, Palgrave Macmillan, vol. 5(4), pages 444-466, December.
    12. Selim Inançli & Mustafa Akal, 2013. "Export and Import Products Groups’ Shares of Turkey with Cee Countries After Theirs Accessions to Eu and Before," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 3(11), pages 1419-1438, November.
    13. Martin, Will, 2001. "Trade policy reform in the East Asian transition economies," Policy Research Working Paper Series 2535, The World Bank.
    14. Kaminski, Bartlomiej, 2001. "How accession to the European Union has affected external trade and foreign direct investment in Central European economies," Policy Research Working Paper Series 2578, The World Bank.
    15. World Bank, 2003. "Nepal : Trade and Competitiveness Study," World Bank Publications - Reports 14417, The World Bank Group.

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