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The Impact of Austerity on International Trade
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
2020 (English)Independent thesis Basic level (degree of Bachelor), 10 credits / 15 HE creditsStudent thesis
Abstract [en]

The following thesis examines the impact that fiscal consolidation, austerity, has on bilateral trade flows between Greece, Italy, Portugal, Spain and the remainder of the European Union member nations. The thesis investigates whether austerity has a positive expansionary effect or a contractionary effect on trade flows. The gravity model of trade is the primary model used as a basis for the econometric analysis. The analysis uses panel data for 24 European Union member nations between the years 2002 and 2018. Austerity was measured as a change in the nations cyclically adjusted primary balance (CAPB). The results indicate that austerity has an expansionary effect on both exports and imports in terms of an increase in both exports and imports to and from the GIPSs. An examination of sectoral changes in trade suggests that austerity does have a positive impact on exports, but a negative impact on imports in terms of reduced imports.

Place, publisher, year, edition, pages
2020. , p. 33
Keywords [en]
austerity, fiscal consolidations, international trade, gravity model, European Union, cyclically adjusted primary balance (CAPB), expansionary, contractionary.
National Category
Economics
Identifiers
URN: urn:nbn:se:uu:diva-404666OAI: oai:DiVA.org:uu-404666DiVA, id: diva2:1396106
Supervisors
Examiners
Available from: 2020-02-26 Created: 2020-02-25 Last updated: 2020-02-26Bibliographically approved

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