Gravity model and efficiency of trade between China and EU countries: Visegrad group, Germany, Austria
| Autor: | Mgr. Radan Papoušek |
|---|---|
| Rok: | 2017 - letní |
| Vedoucí: | doc. Ing. Vladimír Benáček CSc. |
| Konzultant: | |
| Typ práce: | Diplomová Finance, finanční trhy a bankovnictví |
| Jazyk: | Anglicky |
| Stránky: | 96 |
| Ocenění: | |
| Odkaz: | https://is.cuni.cz/webapps/zzp/detail/176782/ |
| Abstrakt: | The thesis analyzes bilateral trade between China and Visegrad group (V4), Austria, and Germany. I use panel data of 23 countries across 1995-2015 to estimate gravity model. I compare the countries among themselves (time-series view) and analyze the development of the crucial variables employed in the model (crosssectional view). Further, I estimate efficiency scores based on stochastic frontier analysis (SFA). Connecting the findings from all three perspectives provides comprehensive picture of the trade relations of the given countries with China. The thesis reveals that accession to EU was beneficial for trade between V4 and China. Global value chains (GVCs) also help to intensify the trade exchange between the European countries and China. I find that Austria and Germany exhibit higher effi- ciency scores for their exports mainly due to better positions in global value chains. V4’s trade balance with China is very sensitive to the decisions of the international companies that operate factories in the given countries. The analysis shows that there is no disadvantage for the landlocked countries once they are in the custom union with coastal countries. The importance of distance between the trading countries is decreasing thanks to ICT and more efficient transport; Chinese exports are further enhanced by state subsides. The results are robust to trade reporters as well as to different assumption underlying SFA. The analysis could be improved by using trade in value-added data, instead of measures of total flows, but are not available at sufficient amount at the moment. |
