Politická ekonomie 2015, 63(5):624-640 | DOI: 10.18267/j.polek.1016

Determinanty evropského zahraničního obchodu: instituce, kultura, infrastruktura a geografie

Jan Hanousek, Evžen Kočenda
1 CERGE-EI, Univerzita Karlova a Akademie věd ČR, Praha; The William Davidson Institute, Michigan; CEPR, Londýn.
2 Institut ekonomických studií Fakulty sociálních věd Univerzity Karlovy; Ústav teorie informace a automatizace, Akademie věd ČR, Praha; CESifo, Mnichov; IOS, Řezno; The William Davidson Institute, Michigan; Euro Area Business Cycle Network.

Determinants of the European Trade: Institutions, Culture, Infrastructure and Geography

We analyze the effect of the large set of theoretically motivated determinants on international trade among European countries during the period 1992-2008. The determinats cover areas of culture, institutions, infrastructure, and geography, including trade directions. We analyze trade in three types of goods: raw materials, parts and components, and capital goods. For each type of goods we differentiate trade in flows, extensive margin, and intensive margin. Methodologically we first derive fixed effects related to unique pairs of countries in terms of exports andimports. Then we explain the fixed effects with the set of trade determinants. We show number of detailed results that could be summarized in a following way. Geographical, cultural, and institutional determinants exhibit intuitively correct but varying effects. Soft and hard infrastructures exhibit strong and positive effect. Trade directions between new and old EU members plays a key role in the European trade.

Keywords: European Union, panel data, bilateral trade, determinants of trade, European integration
JEL classification: F14, F16, L24

Published: September 1, 2015  Show citation

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Hanousek, J., & Kočenda, E. (2015). Determinants of the European Trade: Institutions, Culture, Infrastructure and Geography. Politická ekonomie, 63(5), 624-640. doi: 10.18267/j.polek.1016
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