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Econometric Analysis of the Main Determinants of Austrian Foreign Trade
Davidová, Lucie ; Sedláček, Jiří (advisor) ; Chrobok, Viktor (referee)
The aim of this thesis is to analyze the main determinants of Austrian imports by estimating the import function. The analysis of the data from 1995--2011 implies great openness of the economy, strong orientation at machinery industry, Germany (40 %) and other EU-countries (other 35 %). I have employed a linear log-log model estimated by OLS. Consequently, I have obtained a triple of estimated import functions -- a general one, one for year 2011 in particular, and the last one for the top ten Austrian importers. There is a significant positive impact of partner's GDP (0.81--1.42), common language (1.1--2.3) and contiguity (0.4--2.7). On contrary, we observe an inverse relationship of imports with distance (0.9--1.1) and trade barriers (0.3--0.8). Considering similarities between Austrian and Czech economies, we can deduct similar implications for economic and trade policies.
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Determining factors of czech foreign trade: a cross-section time series perspective
Benáček, Vladimír ; Podpiera, Jiří ; Prokop, Ladislav
By quantifying the determining factors of Czech trade during 1993–2002, this paper enriches the empirical trade literature with evidence from an economy that has undergone intensive structural changes. Writer's findings lend ignificance to standard macroeconomic variables such as aggregate demand and the real exchange rate. Apart from these, however, liberalisation of tariffs, the evolution of unit prices of exports and imports, and economies of scale also played a significant role. An out-of-sample forecast for the trade balance was carried out for 2003–2004.
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