Trade Creation and Diversion Effects of Europe's Regional Liberalization Agreements

Yener Kandogan

International Economic Journal, 2009, vol. 23, issue 4, 591-615

Abstract: After a short review of recent developments in gravity modeling and an overview of the liberalization agreements in Europe, this paper measures the trade creation and diversion effects of major European agreements based on the results of a correctly specified triple-indexed gravity model with bilateral fixed effects. Discussion of the resulting trade creation and diversion focuses on the role of partner and non-partner country characteristics including size and relative factor endowments, as well as date, reciprocity, industry coverage, and rate of liberalization characteristics of the agreement.

Keywords: Gravity model; fixed effects (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (2)

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DOI: 10.1080/10168730903372257

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