Trade Liberalization Strategies: What Could South Eastern Europe Learn From Cefta and Bfta?
IMF Working Papers, December 1, 2003
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Bibliographic details
- Authors: Antonis Adam, James McHugh, Theodora Kosma
- Published: December 1, 2003
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451875799.001
Overview
- Authors: Antonis Adam, James McHugh, Theodora Kosma
- Publication date: December 1, 2003
- Core question: How effective were the Central European Free Trade Area (CEFTA) and the Baltic Free Trade Area (BFTA) in expanding regional trade and preventing a "hub-and-spoke" relationship between the CEECs and the European Union (EU)?
- Central conclusion: Estimates from a gravity model and bilateral trade data support the view that both CEFTA and BFTA helped expand regional trade and limit the emergence of a "hub-and-spoke" relationship between the CEECs and the EU.
Empirical findings
- Methodology: Estimates from a gravity model and analysis of bilateral trade data.
- Key empirical conclusions:
- Both CEFTA and BFTA helped expand regional trade.
- Both CEFTA and BFTA limited the emergence of a "hub-and-spoke" relationship between the CEECs and the EU.
Policy implications and recommendations
- For the "second wave" of prospective EU members among Southeastern European Countries (SEECs):
- Reconsider the bilateral approach to trade liberalization.
- Move towards a multilateral free-trade area as exemplified by both the CEFTA and BFTA.
Subjects and keywords
- Subject: Customs unions, Exports, International trade, Trade agreements, Trade balance, Trade liberalization
- Keywords: Baltics, BFTA, BFTA agreement, BFTA country, CEFTA, CEFTA exports to the EU, CEFTA membership, Customs unions, Eastern Europe, EU accession process, EU agreement, EU enlargement, EU membership, Europe, Exports, gravity models, market share, stability pact, Trade agreements, Trade balance, Trade liberalization, WP
Publication metadata
- Series: Working Paper No. 2003/239
- Issue: 239
- Volume: 2003
- Pages: 32
- DOI: https://doi.org/10.5089/9781451875799.001
- Stock No: WPIEA2392003
- ISBN: 9781451875799
- ISSN: 1018-5941
IMF Working Papers — "Trade Liberalization Strategies: What Could South Eastern Europe Learn From Cefta and Bfta?" by Antonis Adam, James McHugh, Theodora Kosma, December 1, 2003.