Foreign Trade Patterns Between Estonia and the EU |
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Authors: | Grigori Fainštein Aleksei Netšunajev |
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Institution: | (1) Tallinn School of Economics and Business Administration, Tallinn University of Technology, Akadeemia tee 3, 12618 Tallinn, Estonia |
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Abstract: | In this paper, we focus on the development of the foreign trade flows between Estonia and the EU. We observe rapid reorientation
of the trade flows from the former Soviet Union towards Western markets because of economic reforms and foreign trade liberalization.
Moreover, we determine the commodity groups with a comparative advantage in the EU market and analyze its dynamics. Further
analysis of the intra-industry trade (ITT) shows that vertical IIT plays a dominant role in Estonian-EU IIT flows. Shares
of total, vertical, and horizontal IIT have grown rapidly since 2004, the year of accession to the EU. |
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