The Consequences of the Financial Crisis on Intra-European Trade
DOI:
https://doi.org/10.18559/cmqv1n11Keywords:
Financial crisis, Trade exchange, TradeAbstract
This article analyses the effects of the 2008 financial crisis on the real economy through bilateral trade flows amongst Members of the European Union and how trade has evolved thereafter. In order to assess the impact of that crisis in the medium run, we use annual data on bilateral trade flows between 28 European Member Countries from 1997 to 2013. We draw special attention to the patterns of intensive and extensive margins of the CEECs depending on whether they joined the euro area or not. Results exhibit strong differences between these two groups of CEECs as regards the paths followed by their intensive and extensive trade margins.
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