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Trade, product variety and welfare: a quantitative assessment for the transition economies in Central and Eastern Europe

Michael Funke and Ralf Ruhwedel

No 17/2003, BOFIT Discussion Papers from Bank of Finland, Institute for Economies in Transition

Abstract: We calculate welfare gains of trade liberalization in the Central and East European transition economies, following the approach of Romer (1994), who emphasized that proper modeling of the impact of trade restrictions on the number of available product varieties is crucial to quantifying the welfare impact of trade liberalization. The empirical work relies on direct measures of product variety calculated from 5-digit trade data.Although the issue is far from settled, the emerging conclusion is that freer trade has boosted welfare. Trade Liberalization, Product Variety, Welfare, Transition Economies D60, F14, F15

JEL-codes: D60 F14 F15 (search for similar items in EconPapers)
Date: 2003-12-30
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Published in Published in China Economic Journal, 2008, Volume 1 (2): 203-212

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Related works:
Working Paper: Trade, Product Variety and Welfare: A Quantitative Assessment for the Transition Economies in Central and Eastern Europe (2004) Downloads
Working Paper: Trade, product variety and welfare: A quantitative assessment for the transition economies in Central and Eastern Europe (2004) Downloads
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