Economics, Econometrics and Finance
8 years ago

Social development boosts international trade in Central Europe, study finds.

Equilibrium Quarterly Journal of Economics and Economic Policy
Social Development and International Trade in Central Europe
Andrzej Cieślik, Jan Jakub Michałek, Jerzy Mycielski

Paper Summary

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The impact of social development on international trade in Central and Eastern Europe was studied using the generalized gravity model. Besides traditional factors like trading partner size and distance, social development indicators like the Human Development Index were considered. Results show that social development indicators, especially education indexes, have a positive effect on the volume of international trade flows in the region.