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An Assessment of the Europe Agreements’ Effects on Bilateral Trade, GDP, and Welfare

Title data

Egger, Peter ; Larch, Mario:
An Assessment of the Europe Agreements’ Effects on Bilateral Trade, GDP, and Welfare.
In: European Economic Review. Vol. 55 (February 2011) Issue 2 . - pp. 263-279.
ISSN 0014-2921
DOI: https://doi.org/10.1016/j.euroecorev.2010.05.002

Abstract in another language

The so-called Europe Agreements had been enacted in the 1990s to initiate the integration of goods markets between the 15 EU incumbent economies as of 1995 and 10 potential entrants located in Central and Eastern Europe. This paper evaluates the trade, GDP, and welfare effects of these agreements by means of structural analysis of a bilateral trade flow model. The results support three conclusions. First, the agreements exerted significant positive effects on goods trade between the EU15 incumbents and the CEEC and, at the same time, they induced trade redirection from other countries. Second, EU15 GDP responded by an increase of much less than 1% while that in the 10 CEEC increased by several percent in response to the agreements. Third, the effects on welfare were moderate in the EU15 but amounted to more double-digit percentage changes in the involved CEEC.

Further data

Item Type: Article in a journal
Refereed: Yes
Keywords: Europe agreements; GDP and welfare effects of trade agreements; Gravity model; Structural estimation
Subject classification: F14; F15
Institutions of the University: Faculties > Faculty of Law, Business and Economics > Department of Economics > Lehrstuhl Volkswirtschaftslehre VI: Empirische Wirtschaftsforschung
Faculties > Faculty of Law, Business and Economics > Department of Economics > Lehrstuhl Volkswirtschaftslehre VI: Empirische Wirtschaftsforschung > Lehrstuhl für Volkswirtschaftslehre VI: Empirische Wirtschaftsforschung - Univ.-Prof. Dr. Mario Larch
Faculties
Faculties > Faculty of Law, Business and Economics
Faculties > Faculty of Law, Business and Economics > Department of Economics
Result of work at the UBT: Yes
DDC Subjects: 300 Social sciences > 330 Economics
Date Deposited: 14 Oct 2015 13:09
Last Modified: 14 Oct 2015 13:09
URI: https://eref.uni-bayreuth.de/id/eprint/16640