EN
Liberalization of Trade with the European Union and its Impact on the Reduction in Central European Free Trade Agreement 2006 Trade Balance Deficit
Abstract
This paper's main objective is to research the effect of liberalization of trade with the European Union (EU) and its impact on the reduction in trade balance deficit of CEFTA 2006 (Central European Free Trade Agreement). It utilizes panel data time-series in the interval from 2007 to 2013. It applies economical gravity model and econometric dynamic panel data techniques: panel data models (PD), fixed effects models (FE) and random effects models (RE). It has been concluded that trade liberalization positively impacts the reduction in trade balance deficit of CEFTA 2006 countries, i.e. that export and import between the exporting country and the importing country within time period , gross domestic product of the country , gross domestic product per capita of the country within time period , distance between the country and country , dummy variables (free trade agreements and sharing a common border) are statistically significant. Additionally, it has been determined that FE is more favorable than RE when it comes to achieving better assessment of the effects of independent variables on a dependent variable.
Keywords
Details
Primary Language
English
Subjects
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Journal Section
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Publication Date
June 1, 2015
Submission Date
June 1, 2015
Acceptance Date
-
Published in Issue
Year 2015 Volume: 5 Number: 2
APA
Kurtovic, S., & Talovic, S. (2015). Liberalization of Trade with the European Union and its Impact on the Reduction in Central European Free Trade Agreement 2006 Trade Balance Deficit. International Journal of Economics and Financial Issues, 5(2), 552-565. https://izlik.org/JA66BW67XF
AMA
1.Kurtovic S, Talovic S. Liberalization of Trade with the European Union and its Impact on the Reduction in Central European Free Trade Agreement 2006 Trade Balance Deficit. IJEFI. 2015;5(2):552-565. https://izlik.org/JA66BW67XF
Chicago
Kurtovic, Safet, and Sead Talovic. 2015. “Liberalization of Trade With the European Union and Its Impact on the Reduction in Central European Free Trade Agreement 2006 Trade Balance Deficit”. International Journal of Economics and Financial Issues 5 (2): 552-65. https://izlik.org/JA66BW67XF.
EndNote
Kurtovic S, Talovic S (June 1, 2015) Liberalization of Trade with the European Union and its Impact on the Reduction in Central European Free Trade Agreement 2006 Trade Balance Deficit. International Journal of Economics and Financial Issues 5 2 552–565.
IEEE
[1]S. Kurtovic and S. Talovic, “Liberalization of Trade with the European Union and its Impact on the Reduction in Central European Free Trade Agreement 2006 Trade Balance Deficit”, IJEFI, vol. 5, no. 2, pp. 552–565, June 2015, [Online]. Available: https://izlik.org/JA66BW67XF
ISNAD
Kurtovic, Safet - Talovic, Sead. “Liberalization of Trade With the European Union and Its Impact on the Reduction in Central European Free Trade Agreement 2006 Trade Balance Deficit”. International Journal of Economics and Financial Issues 5/2 (June 1, 2015): 552-565. https://izlik.org/JA66BW67XF.
JAMA
1.Kurtovic S, Talovic S. Liberalization of Trade with the European Union and its Impact on the Reduction in Central European Free Trade Agreement 2006 Trade Balance Deficit. IJEFI. 2015;5:552–565.
MLA
Kurtovic, Safet, and Sead Talovic. “Liberalization of Trade With the European Union and Its Impact on the Reduction in Central European Free Trade Agreement 2006 Trade Balance Deficit”. International Journal of Economics and Financial Issues, vol. 5, no. 2, June 2015, pp. 552-65, https://izlik.org/JA66BW67XF.
Vancouver
1.Safet Kurtovic, Sead Talovic. Liberalization of Trade with the European Union and its Impact on the Reduction in Central European Free Trade Agreement 2006 Trade Balance Deficit. IJEFI [Internet]. 2015 Jun. 1;5(2):552-65. Available from: https://izlik.org/JA66BW67XF