The impact of global economic crisis on the intra-industry trade of Visegrad Group Countries and the EU-15

• Autorzy: Patryk Toporowski
• Języki publikacji: EN

Abstrakty

EN

The economic and financial crisis has recently heavily affected European countries and this implied the changes in trade patterns. The firms, especially those that act within the Visegrad Group countries, but also participate in international product fragmentation, suffered dried-up liquidity and thus shortages in production. Consequently, many parts of supply chain were relocated. Some of items produced in the Visegrad Group were shifted to other locations. OECD stated that a massive fall (about 12.5 %) in global trade in 2009 was caused by the collapse in demand, especially the demand for machinery and transport equipment, problems with trade financing and vertically integrated nature of global supply chains. It also estimated that global trade decreased by 1 % due to new protectionist measures, however, on a global scale protectionist measures were significantly smaller than all growth-stimulating instruments. The previous studies suggested that the EU enlargement - with the economic growth boost - had a positive impact on the size and structure of intra-industry trade (later: IIT or two-directional or two-way trade) of the new member states with the EU- 15, both through the demand and supply side. However, due to the insufficient data, the knowledge of the influence of global economic circumstances, such as the crisis, on intra-industry trade of these countries was limited. Within the EU, the anti-crisis protectionist measures - if any - are far indirect and rather weak. So, the impact of the crisis on trade patterns should be visible by the other channels. The paper discusses the changes in trade patterns inside such strongly bound internally organism as the European Union. One can expect, that economic crisis may strongly weaken the convergence process of the Visegrad Group countries. The paper investigates this problem in trade aspect and it is one of responses of how much - and how - the crisis affects the intra-industry trade. It also examines the more dynamic form of two-way trade - marginal intra-industry trade (MIIT) - that is interpreted how big share of changes in trade (both rise and lose) is two-directional. This dynamic form of trade is important in determining the evolution in trade patterns during the changing environment, such as the phenomenon of economic and financial crisis, to observe structural adjustments in production and trade. (original abstract)

Słowa kluczowe

EN

Financial crisis; Economic crisis; Supply chain; Trade

PL

Kryzys finansowy; Kryzys gospodarczy; Łańcuch dostaw; Handel

• Czasopismo: Zeszyty Naukowe / Szkoła Główna Handlowa. Kolegium Gospodarki Światowej
• Rocznik: 2012
• Numer: nr 33
• Strony: 156--177

Twórcy

autor

Patryk Toporowski

• Warsaw School of Economics, Poland

Bibliografia

• Trade and Economic Effects of Responses to the Economic Crisis, OECD Trade Policy Studies 2010.
• Ambroziak Ł. (2010), Determinants of horizontal and vertical intra-industry trade in the new EU Member States.
• Balassa B. (1966), Tariff Reductions and Trade in Manufactures Among Industrial Countries, "American Economic Review", Vol. 56, June.
• Balassa B. (1967), Trade Liberalization among Industrialized Countries: Objectives and Alternatives, New York.
• Brander J. A, (1981), Intra-industry trade in identical commodities, "Journal of International Economics", No. Elsevier.
• Brander J.A., Krugman P. (1983), A ‚reciprocal dumping' model of international trade, NBER Working Papers.
• Brülhart M. (1993), Marginal Intra-Industry Trade: Measurement and Relevance for the Pattern of Industrial Adjustment, Weltwirtschaftliches Archiv.
• Brülhart M., Elliott R. J. R. and Lindley J. (2006), Intra-Industry Trade and Labour-Market Adjustment: A Reassessment Using Data on Individual Workers, Review of World Economics.
• Brülhart M. (2008), An Account of Global Intra industry Trade, 1962-2006, HEC Lausanne.
• Caetano J. and Galego A. (2007), In Search for Determinants of Intra-Industry Trade within an Enlarged Europe, "Economics Working Papers" No. 2/2006, University of Evora, Department of Economics.
• Černoša S. (2007), Horizontal and Vertical Intra-Industry Trade between the Former CEFTA.
• Crespo N., Fontoura M.P. (2004), Determinants of the pattern of horizontal and vertical intra-industry trade: what can we learn from Portuguese data?, Technical University of Lisbon.
• Czarny E. (2002), Teoria i praktyka handlu wewnątrzgałęziowego, "Monografie i Opracowania", Szkoła Główna Handlowa, Warszawa.
• Czarny E., Śledziewska K., Toporowski P. (2008), Zmiany w polskim handlu wewnątrzgałęziowym z Unią Europejską na początku XXI w. jako skutek szoku technologicznego, Poznań.
• Falvey R. (1981), Commercial policy and intra- industry trade, "Journal of International Economics", No. 11(4).
• Falvey, R. E. and H. Kierzkowski, (1987), Product Quality, Intra-Industry trade and (im)perfect Competition, w: H. Kierzkowski, (ed.) Protection and Competition in International Trade, Basil Blackwell, New York.
• Flam, H. and Helpman, E., (1987), Vertical Product Differentiation and North-South Trade, "American Economic Review", No. 77.
• Gabrisch H. (2006), Vertical intra-industry trade between EU and Accession Countries, "IHW Discussion Paper", No. 12, July.
• Fontagné, L. and Freudenberg, M., (1997), Intra-industry trade: methodological issues reconsidered, CEPII Working Paper 1.
• Freudenberg, M. and Lemoine, F., (1999), Central and Eastern European Countries in the international division of labour in Europe, CEPII Working Paper 5.
• Fukao, K., Ishido, H., Ito, K., (2003), Vertical intra-industry trade and foreign direct investment in East Asia, "Journal of the Japanese and International Economies", No. 17 (4).
• Greenaway, D., Hine, R. C. and Milner, C., (1994), Country specific Factors and the Pattern of Horizontal and Vertical Intra-Industry Trade in the U.K., Weltwirtschaftliches Archiv, No. 130(1).
• Greenaway, D., Hine, R. C. and Milner, C., (1995), Vertical and Horizontal Intra-industry trade: A cross industry analysis for the United Kingdom, "The Economic Journal", No. 105, November.
• Grubel, H. and Lloyd, P., (1975), Intra-industry Trade: the theory and measurement of international trade in differentiated products, McMillan: London.
• Hamilton C. and Kniest P. (1991), Trade Liberalisation, Structural Adjustment and Intra- Industry Trade: A Note, Weltwirtschaftliches Archiv, Vol. 127.
• Helpman E.(1981), International trade in the presence of product differentiation, economies of scale and monopolistic competition: A Chamberlin-Hecksher-Ohlin approach, "Journal of International Economics", No. 11(3).
• Helpman, E., (1987), Imperfect competition and international trade: evidence from fourteen industrial countries, "Journal of the Japanese and International Economies", No. 1.
• Helpman, E. and Krugman, P., (1985), Market structure and foreign trade, Massachusetts Institute of Technology Press: Cambridge.
• Hoekman B. (1996), Intra-Industry Trade, Foreign Direct Investment and the Reorientation of East European Exports, "CEPR Discussion Paper", No. 1377, London.
• Hoekman, B. and Djankov, S., (1996), Intra-industry trade, foreign direct investment and the reorientation of Eastern European exports, "CEPR Working Paper" No. 1377, London.
• Jensen L. and Lüthje T. (2009), Driving forces of vertical intra-industry trade in Europe 1996-2005, "Review of World Economics", Vol. 3.
• Ito T., and Okubo T., (2011), New Aspects of Intra-Industry trade: Evidence from EU-15 countries, Kobe University.
• Kawecka-Wyrzykowska E. (2009), Evolving pattern of intra-industry trade specialization of the new Member States (NMS) of the EU: the case of automotive industry, Economic Papers 364, Directorate General Economic and Financial Affairs, March.
• Krugman, P., (1979), Increasing Returns, Monopolistic Competition and International Trade, "Journal of International Economics", No. 9.
• Lancaster K. (1980), Intra-industry trade under perfect monopolistic competition, "Journal of International Economics", No. 10(2).
• Nielsen J. U.-M., Lüthje T., (2002), Tests of the empirical classification of horizontal and vertical intra-industry trade, Weltwirtschaftliches Archiv No. 138(4).
• Toporowski P. (2010), The post-accession patterns of intra-industry trade between New Member States and EU-15: why so different? Miejsce wyd. i wydawnictwo.
• Verdoorn (1960), The Intra-Block Trade of Benelux, in: E.A.G. Robinson (ed.), Economic Consequencies of the Size of Nations, Macmillan, London.