Effects of foreign trade on the economic performance of industries-evidence from wood processing industry of Czechia and Slovakia

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43410%2F21%3A43920648" target="_blank" >RIV/62156489:43410/21:43920648 - isvavai.cz</a>

Result on the web

<a href="https://doi.org/10.3390/economies9040180" target="_blank" >https://doi.org/10.3390/economies9040180</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.3390/economies9040180" target="_blank" >10.3390/economies9040180</a>

Result language

angličtina

Original language name

Effects of foreign trade on the economic performance of industries-evidence from wood processing industry of Czechia and Slovakia

Original language description

As was first stressed by the classical economists Adam Smith and David Ricardo, international trade plays a crucial role in the growth process. The paper aims to analyze the influence of foreign trade on economic performance in the wood processing industry (WPI) of Czechia and Slovakia. The multivariate regression method (MLR), assumption tests for MLR models, and Granger causality test were applied to identify association between foreign trade economic performance, and indicators were formed to measure the effects of foreign trade at the industry level. The Granger test revealed the unidirectional causality in the Slovak WPI and bidirectional causality in the Czech WPI. The results revealed that the net export growth has a positive effect on the economic performance of the industry, but only if the growth in imports is lower than in exports. The balanced trade balance indicated no influence of foreign trade on economic performance. The paper contributes to existing knowledge with indicators for evaluation of foreign trade effects on the performance of the industry. The paper also brings new empirical knowledge in trade balance effects on the economic performance of industries.

Czech name

—

Czech description

—

Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

—

OECD FORD branch

50202 - Applied Economics, Econometrics

Project

—

Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2021

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Economies

ISSN

2227-7099

e-ISSN

—

Volume of the periodical

9

Issue of the periodical within the volume

4

Country of publishing house

CH - SWITZERLAND

Number of pages

20

Pages from-to

180

UT code for WoS article

000735515800001

EID of the result in the Scopus database

2-s2.0-85119846205