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Trade Policies of the Former Centrally Planned Economies

Author

Listed:
  • Toole James

    (Indiana University-Purdue University at Fort Wayne)

  • Lutz James

    (Indiana University-Purdue University at Fort Wayne)

Abstract

Since the end of Communist rule, the countries of Eastern Europe and the former Soviet Union have been forced to restructure their formerly centrally planned economies. Among the dilemmas they have faced is how open they should be to international trade. Using multiple regression, the openness of these economies to trade is empirically determined while controlling for the effects of both population and wealth. Residuals from the regression equations are then examined in order to identify how much more or less open to trade each country has been. Analysis of the residuals for six distinct regions of the former Communist world presents no definitive answers but does suggest some preliminary conclusions. A country's degree of political openness is found to be most important in determining relative openness to trade; close behind that are its geographic proximity to important world markets and its prospects for future accession to the European Union.

Suggested Citation

  • Toole James & Lutz James, 2005. "Trade Policies of the Former Centrally Planned Economies," Global Economy Journal, De Gruyter, vol. 5(3), pages 1-23, September.
    • Handle: RePEc:bpj:glecon:v:5:y:2005:i:3:n:4
    DOI: 10.2202/1524-5861.1088
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    References listed on IDEAS

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    1. National Research Council & Institute of Medicine Panel to review the National Children's Study Research Plan of which Allen Schirm is a member, "undated". "Small-Area Estimates of School-Age Children in Poverty: Interim Report 2, Evaluation of Revised 1993 County Estimates for Title I Allocations," Mathematica Policy Research Reports ea76dc09961d429593186b567, Mathematica Policy Research.
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