Record Details

Liberalization of Trade with the EFTA Countries: Some Evidence from Bosnia and Herzegovina

Journal Transition Studies Review

View Archive Info
 
 
Field Value
 
Title Liberalization of Trade with the EFTA Countries: Some Evidence from Bosnia and Herzegovina
 
Creator Kurtovic, Safet
Talovic, Sead
Halili, Blerim
Maxhuni, Nehat
 
Subject —
Trade agreements - Liberalization; Trade; Export; Import; Trade balance
F150 - F110 - F130
 
Description This paper's main objective is to study the effect of the liberalization of trade with EFTA countries on trade balance of B&H. It analyzes the time series data for the period 2005 – 2014. Our theoretical framework includes the gravity model and the econometric technique system of simultaneous equations: Three-Stage Least Squares. The research results show that the liberalization of trade with the EFTA countries has led to an increase of trade flows; however, it has not resulted in a significant convergence in exports and imports i.e. in an equable trade balance. We have concluded that the increase in export from B&H to the EFTA countries is positively affected by the consumer price index, population, signed bilateral agreements and geographical distance between the EFTA countries, while the reduction in import of products to B&H is positively affected by signed bilateral agreements with the EFTA countries. Finally, we have found that the reduction in B&H trade deficit is positively affected by reduced gross domestic product (GDP) of B&H. In the case of other analyzed independent variables affecting trade balance, no positive effects have been registered.
 
Publisher Journal Transition Studies Review
 
Contributor —
 
Date 2016-06-24
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier http://transitionacademiapress.org/jtsr/article/view/117
10.14665/1614-4007-23-1-003
 
Source Journal Transition Studies Review; Vol 23, No 1 (2016); 21-35
1614-4015
1614-4007
 
Language eng
 
Relation http://transitionacademiapress.org/jtsr/article/view/117/151
 
Coverage —
—
—
 
Rights Copyright (c) 2016 Journal Transition Studies Review