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Autor
Cieślik Andrzej (University of Warsaw, Poland), Michałek Jan (University of Warsaw, Poland), Michałek Anna (University of Warsaw, Poland)
Tytuł
The Impact of the Common Currency on Exports of New EMU Members : Firm-level Evidence for Slovenia and Slovakia
Źródło
Equilibrium, 2013, vol. 8, nr 4, s. 7-23, tab., bibliogr. 28 poz.
Słowa kluczowe
Waluta wspólnego rynku, Eksport, Unia Gospodarcza i Walutowa (UGW)
Common currency market, Export, Economic and Monetary Union (EMU)
Uwagi
summ.
Kraj/Region
Słowenia, Słowacja
Slovenia, Slovak Republic
Abstrakt
There are many studies aiming at estimation of aggregate trade effects of the euro adoption by the old EU countries, which are based on the augmented gravity model. In contrast to the existing literature, we investigate whether the adoption of the common currency increases the export activity of individual firms. In particular, we refer to the new strand in the trade theory literature, based on the Melitz (2003) model, in which export performance depends on labor productivity and costs of exporting. There are already many empirical studies, based on firm level data, showing the relevance of the Melitz (2003) model. Most of those studies demonstrate that export performance positively depends on firms' characteristics such as labor productivity, spending on R&D, age of the firm, the stock of human capital or propensity to innovate, but they do not take into account the impact of the common currency on the cost of exporting. There are only few studies analyzing trade implications of euro adoption for firms' exports of "old EU" members. In our empirical paper we use the firm level data basis set up by the EBRD and the World Bank for Central and Eastern European Countries. Using the probit model, we analyze whether the accession of Slovenia and Slovakia to the Eurozone did increase the firms' propensity to export in those countries. (original abstract)
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Bibliografia
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  8. Brouwer J., Paap P., Viaene J-M. (2008), The Trade and FDI Effects of EMU Enlargement, "Journal of International Money and Finance", Vol. 27.
  9. Cieślik A., Michałek J.J., Michałek A. (2012a), Determinanty działalności eksportowej polskich firm, "Gospodarka Narodowa", Vol. LXXX/XXI, No. 7-8.
  10. Cieślik A., Michałek J.J., Michałek A. (2012b), Export activity in Visegrad-4 countries: Firm-level investigation, "Ekonomia", No. 30.
  11. Cieślik A., Michałek J.J., Mycielski J. (2009), Prognoza skutków handlowych przystąpienia do Europejskiej Unii Monetarnej dla Polski przy użyciu uogólnionego modelu grawitacyjnego, "Bank i Kredyt", No. 40 (1).
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  22. Frankel J. (2008), Should Eastern European Countries join the Euro? The review and update of trade estimates of Endogenous OCA criteria, Research Working Paper, 08-059, J.F. Kennedy School of Government, Harvard University.
  23. Klučka, J., Strelcová S., Leláková E. (2009), EURO in the Slovak Republic, "Scientific Papers Of The University Of Pardubice Series D Faculty of Economics and Administration", Vol. 14.
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  28. Sivak R. (2011), Experience of Slovakia of accession to the Eurozone [in:] Lis S. (ed.), Kontrowersje wokół akcesji Polski do Unii Gospodarczej i Walutowej, Wydawnictwo Uniwersytetu Krakowskiego, Kraków.
Cytowane przez
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ISSN
1689-765X
Język
eng
URI / DOI
http://dx.doi.org/10.12775/EQUIL.2013.024
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