Opening Up and Geographic Diversification of Trade in Transition Economies
February 1, 1998
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Summary
This paper looks at the progress in transition and the geographic diversification of trade, focusing on two issues--the degree of trade openness and trade integration--for a sample of countries in transition. It concludes that about half of the group of countries sampled are becoming as open as similar market economies, but that many others remain relatively closed. Geographic diversification (to the European Union) is found to be greater the closer is geographic proximity and the more advanced the country is with reforms. The analysis is then extended, in an illustrative way, to show how much larger would be the share of exports to the EU if structural reforms were more ambitious.
Subject: Econometric analysis, Exchange rates, Exports, Foreign exchange, Gravity models, International trade, Real effective exchange rates, Trade balance
Keywords: BRO, BRO country, BRO reformer, Central Asia, East Asia, Europe, Exchange rates, export, export-import pattern, Exports, Gravity models, market penetration, Middle East, Real effective exchange rates, Trade balance, Trade diversification, trade openness, transition country, transition economies, transition economy, Western Europe, WP
Pages:
27
Volume:
1998
DOI:
Issue:
022
Series:
Working Paper No. 1998/022
Stock No:
WPIEA0221998
ISBN:
9781451921267
ISSN:
1018-5941
