Foreign Trade in Central Europe: The Analysis of Openness

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62690094%3A18450%2F19%3A50015882" target="_blank" >RIV/62690094:18450/19:50015882 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Foreign Trade in Central Europe: The Analysis of Openness

Original language description

The main topic of this article is the analysis of selected issues of foreign trade in the countries from central Europe, namely the Czech Republic, Poland, Slovakia, Hungary, Germany, and Austria. The Czech Republic, Poland, Slovakia, and Hungary are member states of so-called Visegrad Four, and they can be considered as developing countries, at least in comparison with other two analysed countries. Germany and Austria are not only strong and powerful countries, but they are also important business partners for all V4 countries. This article focuses on selected aspects of foreign trade development, because foreign trade is considered to be very important for successful and sustainable development of almost all countries around the world. The article analyses development of foreign trade with goods and with services, where we have discovered relatively surprising results (the weakest country in terms of services has been Germany, where the country with highest net balance has been Poland). Consequently, the article analyses the dependency of analysed countries on foreign trade. Several indicators can be used for this analysis, where the authors have been used export on GDP ratio, import on GDP ratio, and turnover on GDP ratio. From theoretical point of view, strong and large economies should be less dependent on foreign trade, where weak and small countries should be more dependent. This fact has been proved, but on the other hand, although small and relatively weak countries are more dependent on foreign trade, the final benefit of net balance on GDP is relatively low, which is relatively surprising fact again.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50202 - Applied Economics, Econometrics

Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2019

Confidentiality

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

Article name in the collection

European Financial Systems 2019

ISBN

978-80-210-9338-6

ISSN

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e-ISSN

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Number of pages

9

Pages from-to

325-333

Publisher name

Masarykova univerzita

Place of publication

Brno

Event location

Brno

Event date

Jun 24, 2019

Type of event by nationality

EUR - Evropská akce

UT code for WoS article

000503222600038