|Beckmann, Elisabeth; Fidrmuc, Jarko (1. August 2009): Oil Price Shock and Structural Changes in CMEA Trade. Pouring Oil on Troubled Waters? Discussion Papers in Economics 2009-12|
We analyse trade between countries of the Council of Mutual Economic Assistance in Eastern Europe between 1950 and 1990. Despite central planning and political motivation of the CMEA, we show that trade could be explained by standard demand factors surprisingly well. Moreover, we document that the oil price crisis had several repercussions on Eastern Europe. The Soviet Union as a supplier of crude oil benefited from the energy crisis in the 1970s. In particular, it used energy exports as an instrument of foreign policy. In turn, the responses of the individual CMEA countries in Central Europe were largely different.
|Item Type:||Paper (Discussion Paper)|
|Keywords:||economic history, free trade areas, political economy, structural break, gravity model, oil price, CMEA trade|
Economics > Munich Discussion Papers in Economics
Economics > Munich Discussion Papers in Economics > International Trade
Economics > Munich Discussion Papers in Economics > Economic History
Economics > Munich Discussion Papers in Economics > Transition Economics
|Subjects:||300 Social sciences > 300 Social sciences, sociology and anthropology|
300 Social sciences > 330 Economics
|JEL Classification:||F14, C22, N74|
|Deposited On:||31. Jul 2009 06:10|
|Last Modified:||29. Apr 2016 11:28|
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