Can SEE economies grow stronger together? Empirical evidence from the CEFTA region

Nina Vujanovic

Post-Communist Economies, 2024, vol. 36, issue 6, 695-722

Abstract: This article investigates the trade and growth benefits of the CEFTA agreement for its members using panel econometric techniques and analysis of backward and forward linkages with the CEFTA and the European economies. Although the countries have not reached their end goal of membership of the European Union, the research shows that CEFTA has supported their economic growth. However, there is trade heterogeneity in terms of the extent to which individual countries use CEFTA value added in their manufacturing exports. Less-developed economies seem to rely more on regional (CEFTA) supply chains, while manufacturing-based economies are increasingly coming to rely on EU supply chains. The countries have not built a strong export advantage abroad, as very little of their value added is used in EU exports.

Date: 2024
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DOI: 10.1080/14631377.2024.2327875

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