Arbeitspapier
International Trade in Western Balkan Countries: Analysis Based on the Gravity Model
We adopt the gravity model to analyse the international trade relations of Western Balkan (WB) countries and of the WB region as a whole, using WIIW and World Bank data, over a period of 20 years (1995-2014). Data show a tendency toward better integration of WB countries with the world economy, increased openness of their economies, persistence of their trade deficits, and, for most of them, an improvement of the coverage ratio. For the region as a whole, the volume of international trade outpaced that of intra-regional trade reaching, in 2014, a difference of nearly 5 times. The main partner for the region remains the European Union, particularly Germany and Italy. The gravity model of exports of the WB region shows that its exports are positively impacted by the common language and common borders with third countries, by trade with European Union, and large and highly industrialized countries, while distance and region's level of per capita Gross Domestic Product both have a negative impact. Considering the imports, the model shows that they are positively impacted by existence of common borders and language with the region, and by region's and partner countries' level of economic development, while the distance has again a negative impact.
- Language
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Englisch
- Bibliographic citation
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Series: wiiw Balkan Observatory Working Papers ; No. 126
- Classification
-
Wirtschaft
Econometric Modeling: Other
Empirical Studies of Trade
Economic Integration
- Subject
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Western Balkans
International trade relations
Gravity model
Economic integration
- Event
-
Geistige Schöpfung
- (who)
-
Ninka, Eniel
Pere, Engjell
- Event
-
Veröffentlichung
- (who)
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The Vienna Institute for International Economic Studies (wiiw)
- (where)
-
Vienna
- (when)
-
2017
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Ninka, Eniel
- Pere, Engjell
- The Vienna Institute for International Economic Studies (wiiw)
Time of origin
- 2017
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