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The Effects of Foreign Trade Liberalization and Financial Flows between Slovenia and the EU after the Accession

Author

Listed:
  • Boris Majcen

    (Institute for Economic Research Ljubljana)

  • Miroslav Verbic

    (Institute for Economic Research Ljubljana)

  • Sasa Knezevic

    (Institute for Economic Research Ljubljana)

Abstract

The new version of the CGE model of the Slovenian economy, based on the 1998 SAM, was used for simulations of the consequences of further foreign trade liberalization after 1998 as the outcome of the finished processes of implementation of Free Trade Agreements and the European Agreement, adaptation of the Customs Tariff to the EU Common External Tariff for the manufacturing products, adoption of the EU Common External Tariff after the accession of Slovenia to the EU as well as the estimated transfers between both budgets. Results obtained show a positive net outcome of the Slovenian accession to the EU in the long run. On the other hand, rational behaviour of the government will certainly moderate possible short run negative effects and improve favourable long run effects.

Suggested Citation

  • Boris Majcen & Miroslav Verbic & Sasa Knezevic, 2005. "The Effects of Foreign Trade Liberalization and Financial Flows between Slovenia and the EU after the Accession," International Trade 0501011, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpit:0501011
    Note: Type of Document - pdf; pages: 22
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    References listed on IDEAS

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    1. Robinson, Sherman & Yunez-Naude, Antonio & Hinojosa-Ojeda, Raul & Lewis, Jeffrey D. & Devarajan, Shantayanan, 1999. "From stylized to applied models:: Building multisector CGE models for policy analysis," The North American Journal of Economics and Finance, Elsevier, vol. 10(1), pages 5-38.
    2. Deaton, Angus S & Muellbauer, John, 1980. "An Almost Ideal Demand System," American Economic Review, American Economic Association, vol. 70(3), pages 312-326, June.
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    Cited by:

    1. Miroslav Verbič & Boris Majcen & Olga Ivanova & Mitja Čok, 2011. "R&D and Economic Growth in Slovenia: A Dynamic General Equilibrium Approach with Endogenous Growth," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(1), pages 67-89, March.
    2. Mitja Čok & Jože Sambt & Marko Košak & Miroslav Verbič & Boris Majcen, 2011. "Distribution of personal income tax changes in Slovenia," Post-Communist Economies, Taylor & Francis Journals, vol. 24(4), pages 503-515, November.
    3. Miroslav Verbic, 2005. "A Quarterly Econometric Model of the Slovenian Economy," Econometrics 0511015, University Library of Munich, Germany.
    4. Fritz Breuss, 2006. "Warum wächst die Wirtschaft in Österreich rascher als in Deutschland?," WIFO Working Papers 280, WIFO.

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    More about this item

    Keywords

    Computable General Equilibrium Model; EU-Accession; Financial Flows; Trade Liberalization; Transition Country; Regionalism;
    All these keywords.

    JEL classification:

    • D58 - Microeconomics - - General Equilibrium and Disequilibrium - - - Computable and Other Applied General Equilibrium Models
    • F15 - International Economics - - Trade - - - Economic Integration
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment

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