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.
Downloads
References
Baldwin, R., 1988, Hysteresis in Import Prices: the Beachhead Effect, American Economic Review, 78(4), pp. 773-785, http://www.jstor.org/stable/1811174. DOI: https://doi.org/10.3386/w2545
View in Google Scholar
Baldwin, R., 2009, The Great Trade Collapse: Causes, Consequences and Prospects, A VoxEU.org Publication, Centre for Economic Policy Research, novembre. ISBN-13: 978-1907142246.
View in Google Scholar
Bernard, A., Jensen, B., Bradford, J., Redding, S.J., Schott, P.K., 2009, The Margins of US Trade, American Economic Review Papers and Proceedings, 99(2), pp. 487-493, DOI: 10.1257/aer.99.2.487. DOI: https://doi.org/10.1257/aer.99.2.487
View in Google Scholar
Bricongne, J.C., Fontagné, L., Gaulier, G., Taglioni, D., Vicard, V., 2012, Firms and the Global Crisis: French Exports in the Turmoil, Journal of International Economics, 87(1), pp. 134-146, DOI:10.1016/j.jinteco.2011.07.002. DOI: https://doi.org/10.1016/j.jinteco.2011.07.002
View in Google Scholar
Cheptea, A., Fontagné, L., Zignago, S., 2014, European Export Performance , Review of World Economics, 150(1), pp. 25-58, DOI: 10.1007/s10290-013-0176-z. DOI: https://doi.org/10.1007/s10290-013-0176-z
View in Google Scholar
Cieślik, A., Michałek, J.J., Mycielski, J., 2012, Measuring the Trade Effects of the Euro in Central and Eastern Europe, Journal of International Trade & Economic Development, 21(1), 25-49, DOI: 10.1080/09638199.2012.642527. DOI: https://doi.org/10.1080/09638199.2012.642527
View in Google Scholar
FMI, Fonds Monétaire International, 2015, Central and Eastern Europe: New Member States (NMS) Policy Forum 2014, IMF Country Report no. 15/98, DOI: 10.5089/9781484321393.002. DOI: https://doi.org/10.5089/9781484321393.002
View in Google Scholar
Glick, R., Rose, A.K., 2015, Currency Unions and Trade: a Post-EMU Mea Culpa, NBER Working Paper Series, no. 21535, DOI: 10.3386/w21535. DOI: https://doi.org/10.3386/w21535
View in Google Scholar
Haddad, M., Harrison, A., Hausman, C., 2011, Decomposing the Great Trade Collapse Products, Prices, and Quantities in the 2008-2009 Crisis , World Bank WPS, no. 5749, DOI: 10.1596/1813-9450-5749. DOI: https://doi.org/10.1596/1813-9450-5749
View in Google Scholar
