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nr 3(57)
109-120
EN
Preferential trade agreements have become an important element of the world trade system. They are frequently regarded as a source of discrimination against non-member countries. However, many empirical studies suggest that this view is unjustified. The present paper indicates reasons for this state of affairs. The author explains why the preferential nature (and, hence, discrimination) of trade agreements is much lesser than it can be inferred from the theory.
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nr 3
47-65
EN
The article focuses on the latest trends in the theory of international trade, which, according to the author, are relatively little known in Poland. Serwach sets out to show that the theoretical analysis of trade has evolved over the years toward purely microeconomic considerations. Referring to specific research reports, the paper describes the main directions of theoretical research today: a new theory of trade that takes into account the diversification of companies, a theory of trade conducted by multiproduct companies, and the so-called incomplete contract theory. Serwach shows that these new trends overlap and complement previously existing theories. The overview of the latest theories of international trade presented in the article prompts several conclusions. One of these is that many theoreticians focus on the relationship between a company’s productivity and its decision to go international with its business. The trends discussed in the article involve the problem of the significant role of fixed costs in shaping trade flows, the author says. Although the latest ideas make it possible to offer a theoretical explanation of many empirical phenomena in the trade of goods, Serwach says, these concepts have some limitations. These include the lack of in-depth modeling of demand and a tendency to ignore strategic interactions between firms.
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nr 25
111-123
EN
RESEARCH OBJECTIVE: The first objective of this paper is to evaluate countries’ position in the international trade network with regard to their two dimensions: their self-sufficiency and extent of their trade contacts. The second objective is to test the implications of the utilized criteria for the European Union member states. THE RESEARCH PROBLEM AND METHODS: It was decided to classify countries using the data on foreign value added in trade and network characteristics (mainly – vertex centrality). Different categories of countries were identified and labelled according to that criteria. Later, correlation analysis was used to determine if the utilised criteria had any effect on countries’ welfare and shock resistance. THE PROCESS OF ARGUMENTATION: In our opinion, countries that play an important role in international trade network should be important partners for numerous other countries. However, that criterion is not enough, as many less developed countries serve simply as assembly lines for value created elsewhere. Therefore we focused also on the share of imported value added to the total value of exported goods. We then tested if our notions translate to national welfare and export’s resistance to external shocks, such as the Great Trade Collapse of 2008/2009. RESEARCH RESULTS: The classification concept was applied to a sample of EU member states displaying differences between Old and New member states. The analysis proved differences in welfare and stability of export performance during the Great Trade Collapse among countries with different levels of export and import contacts and intensity of relying on imported inputs for their own export production. CONCLUSIONS, INNOVATIONS AND RECOMMENDATIONS: It is vital to diversify export and import contacts due to possible impact of those characteristics on welfare level and stability of trade flows. At the same time, the effects of engagement in international production networks creates a tradeoff: higher dependence on foreign inputs may stabilize trade dynamics at the expense of lowering GDP level.
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