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The effects of competing trade regimes on bilateral trade flows: case of Serbia

Predrag Bjelić   ORCID icon orcid.org/0000-0002-9777-8403 ; Faculty of Economics, University of Belgrade, Beograd, Serbia
Radmila Dragutinović Mitrović ; Faculty of Economics, University of Belgrade, Beograd, Serbia

Puni tekst: engleski, pdf (2 MB) str. 267-294 preuzimanja: 594* citiraj
APA 6th Edition
Bjelić, P. i Dragutinović Mitrović, R. (2012). The effects of competing trade regimes on bilateral trade flows: case of Serbia. Zbornik radova Ekonomskog fakulteta u Rijeci, 30 (2), 267-294. Preuzeto s https://hrcak.srce.hr/93901
MLA 8th Edition
Bjelić, Predrag i Radmila Dragutinović Mitrović. "The effects of competing trade regimes on bilateral trade flows: case of Serbia." Zbornik radova Ekonomskog fakulteta u Rijeci, vol. 30, br. 2, 2012, str. 267-294. https://hrcak.srce.hr/93901. Citirano 30.11.2020.
Chicago 17th Edition
Bjelić, Predrag i Radmila Dragutinović Mitrović. "The effects of competing trade regimes on bilateral trade flows: case of Serbia." Zbornik radova Ekonomskog fakulteta u Rijeci 30, br. 2 (2012): 267-294. https://hrcak.srce.hr/93901
Harvard
Bjelić, P., i Dragutinović Mitrović, R. (2012). 'The effects of competing trade regimes on bilateral trade flows: case of Serbia', Zbornik radova Ekonomskog fakulteta u Rijeci, 30(2), str. 267-294. Preuzeto s: https://hrcak.srce.hr/93901 (Datum pristupa: 30.11.2020.)
Vancouver
Bjelić P, Dragutinović Mitrović R. The effects of competing trade regimes on bilateral trade flows: case of Serbia. Zbornik radova Ekonomskog fakulteta u Rijeci [Internet]. 2012 [pristupljeno 30.11.2020.];30(2):267-294. Dostupno na: https://hrcak.srce.hr/93901
IEEE
P. Bjelić i R. Dragutinović Mitrović, "The effects of competing trade regimes on bilateral trade flows: case of Serbia", Zbornik radova Ekonomskog fakulteta u Rijeci, vol.30, br. 2, str. 267-294, 2012. [Online]. Dostupno na: https://hrcak.srce.hr/93901. [Citirano: 30.11.2020.]

Sažetak
The aim of this paper is to investigate the effects of competing trade regimes on Serbian trade with its most significant (traditional) partners, like European Union and CEFTA 2006 signatories, and other untraditional trade partners with favourable trade regime, like the USA. To this end, gravity model with bilateral and time effects is estimated by Hausman-Taylor AR(1) instrumental variable estimator, using panel data on bilateral trade between Serbia and its main trade partners during the period 2001-2010. The results indicate that overall level of development and difference in factor endowments stimulate Serbia’s exports, which is in accordance with theoretical foundation that inter-industry trade is predominant in exports of less developed countries. Moreover, competing trade regimes appear as important determinant of Serbia’s trade relations, whereas additional liberalization of trade regime with the USA as untraditional trade partner, even asymmetrical to Serbia’s favour, cannot divert trade flows from traditional partners in the long-run. This could mean that distance plays more prominent role in bilateral trade than the degree of liberalization of trade regimes in case of Serbia. The result could be due to the contemporaneous effects of trade preferences granted to Serbia by the EU and other CEFTA 2006 signatories, main trading partners of Serbia.

Ključne riječi
Trade regimes; gravity model; trade potentials; panel data

Hrčak ID: 93901

URI
https://hrcak.srce.hr/93901

[hrvatski]

Posjeta: 1.039 *