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Reálná ekonomika jako zdroj nerovnováhy obchodní bilance - základní přístup
[Real Economy as a Source of Trade Balance Disequilibrium - Basic Approach]

Author

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  • Ondřej Šíma

Abstract

The aim of this paper is to specify the determinants from the real economy causing long-term disequilibrium in the trade balance. The analysis is carried out for all countries of the world for the period 1980-2016 (according to data availability) using panel and cross-sectional regression. We employ the absorption approach as the basic theoretical model. From the supply side of the economy, the main determinants are: export of primary resources, e.g. oil and gas, geographical factors and institutional quality of the economy. From the demand side of the economy, the trade balance is influenced mainly by the demographic structure of the population and its consumption, saving and investment habits in the context of life cycle hypothesis, marginal propensity to consume and the participation of the government sector in the economy (e.g. health care provision, social security, etc.).

Suggested Citation

  • Ondřej Šíma, 2020. "Reálná ekonomika jako zdroj nerovnováhy obchodní bilance - základní přístup [Real Economy as a Source of Trade Balance Disequilibrium - Basic Approach]," Politická ekonomie, Prague University of Economics and Business, vol. 2020(3), pages 322-347.
    • Handle: RePEc:prg:jnlpol:v:2020:y:2020:i:3:id:1281:p:322-347
    DOI: 10.18267/j.polek.1281
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    References listed on IDEAS

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    More about this item

    Keywords

    trade balance; absorption approach; supply side; institutions; geography; domestic demand;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • Q37 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Issues in International Trade

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