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Real Convergence and Perspective of Integration- The Analysis of the Croatian Intra-industry Trade (CROSBI ID 617612)

Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija

Host, Alen ; Zaninović, Vinko ; Mirkov, Tina Real Convergence and Perspective of Integration- The Analysis of the Croatian Intra-industry Trade // Economic Integrations, Competition and Cooperation / Kandžija, Vinko ; Kumar, Andrej (ur.). Rijeka: Ekonomski fakultet Sveučilišta u Rijeci, 2014. str. 448-474

Podaci o odgovornosti

Host, Alen ; Zaninović, Vinko ; Mirkov, Tina

engleski

Real Convergence and Perspective of Integration- The Analysis of the Croatian Intra-industry Trade

Classical theory finds impulse for international exchange in different relative prices of production, i.e relative abundance of different factors of production. Intra-industry trade concept means trade between similar products of different countries (economic integration). Applying classical concept in practice would mean that the trade between states at similar stage of development will decline through time. However, the fact is that developed countries (this especially applies to the EU) exchange more despite the fact that their relative costs of production, i.e. relative wealth of the factors of production are more similar. Statistically it is just possible to substantiate the fact that the most developed countries in the world exchange between more than half of total world trade (OECD, 2010). This fact has led to the development of alternative theories, opposite to classical theories of international trade. Thereby, it took into account entirely new assumptions. These assumptions reflect the actual conditions in which international trade takes place, such as economy of scale, product differentiation, monopolistic (oligopolistic) competition, multinational companies etc. Croatia is a small open economy that will join the EU on July 1st, 2013. Nominal Copenhagen criteria are fulfilled, but the real question is where Croatia stands when real convergence is concerned (if we take into account that intra-industry trade could be a significant indicator of real convergence of national economy), i.e. the extent which Croatia trade/exchange is inter-industry and intra- industry. The increase in the share of bilateral intra-industry trade would mean that Croatia managed to differentiate production, and that is able to compete in the EU market by selling similar products. In other words, it leads to a smooth adjustment hypothesis, according to which the adjustment costs of particular country or sector, when entering the economic integration will be low if there is a relatively high level of intra-industry trade. Aim of this paper is to analyze intra-industry trade of Croatia between year 2002 and 2012 and section of 10 European countries with biggest share of bilateral trade flows: eight from the EU (Italy, Germany, Slovenia, France, Great Britain, Austria, Hungary and Netherlands) and two countries from CEFTA 2006 (Bosnia & Herzegovina and Serbia).

intra-industry trade ; international trade ; economic integration ; Croatia ; EU

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Podaci o prilogu

448-474.

2014.

objavljeno

Podaci o matičnoj publikaciji

Economic Integrations, Competition and Cooperation

Kandžija, Vinko ; Kumar, Andrej

Rijeka: Ekonomski fakultet Sveučilišta u Rijeci

978-953-7813-19-2

Podaci o skupu

Nepoznat skup

predavanje

29.02.1904-29.02.2096

Povezanost rada

Ekonomija