STUDY ON THE DETERMINATION OF COMPARATIVE ADVANTAGE THROUGH THE ANALYSIS OF TRADE FLOWS IN A GLOBAL AND EUROPEAN INTEGRATIONIST CONTEXT THE CASE OF ROMANIA
The objective of this paper is to determine the comparative advantage of Romania in relation to the countries of the European Union in an integrationist context. The European single market offers free trade conditions, which allows the reference to Ricardo's theory of comparative advantage and...
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| Format: | Article |
| Language: | English |
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Universitatea din Craiova
2023-08-01
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| Series: | Annals of the University of Craiova: Economic Sciences Series |
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| Online Access: | http://feaa.ucv.ro/annals/v1_2023/010.pdf |
| _version_ | 1827376121489915904 |
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| author | Daniel-Marius MITRACHE |
| author_facet | Daniel-Marius MITRACHE |
| author_sort | Daniel-Marius MITRACHE |
| collection | DOAJ |
| description | The objective of this paper is to determine the comparative advantage of Romania in relation to the countries of the European Union in an integrationist context. The European single market offers free trade conditions, which allows the reference to Ricardo's theory of comparative advantage and the use of the Balassa index for the analysis of trade flows. This index measures the relative performance of exports, per countries and branches, and it is calculated as ratio between the share of a branch in the total export of the country and the share of the branch in the world exports. As the current export flows 'reveal' the country's strong sectors it is also known as Revealed Comparative Advantage. The conclusions of the analysis will identify the situations of relative comparative advantage and the situations in which the Romanian economy presents favorable opportunity costs. |
| first_indexed | 2024-03-08T12:05:17Z |
| format | Article |
| id | doaj.art-f879de23ae51448ba9ded6fae5a1e614 |
| institution | Directory Open Access Journal |
| issn | 1223-365X 1843-3723 |
| language | English |
| last_indexed | 2024-03-08T12:05:17Z |
| publishDate | 2023-08-01 |
| publisher | Universitatea din Craiova |
| record_format | Article |
| series | Annals of the University of Craiova: Economic Sciences Series |
| spelling | doaj.art-f879de23ae51448ba9ded6fae5a1e6142024-01-23T10:12:11ZengUniversitatea din CraiovaAnnals of the University of Craiova: Economic Sciences Series1223-365X1843-37232023-08-0186948694STUDY ON THE DETERMINATION OF COMPARATIVE ADVANTAGE THROUGH THE ANALYSIS OF TRADE FLOWS IN A GLOBAL AND EUROPEAN INTEGRATIONIST CONTEXT THE CASE OF ROMANIADaniel-Marius MITRACHE0University of Craiova, Faculty of Economics and Business Administration, Craiova, RomaniaThe objective of this paper is to determine the comparative advantage of Romania in relation to the countries of the European Union in an integrationist context. The European single market offers free trade conditions, which allows the reference to Ricardo's theory of comparative advantage and the use of the Balassa index for the analysis of trade flows. This index measures the relative performance of exports, per countries and branches, and it is calculated as ratio between the share of a branch in the total export of the country and the share of the branch in the world exports. As the current export flows 'reveal' the country's strong sectors it is also known as Revealed Comparative Advantage. The conclusions of the analysis will identify the situations of relative comparative advantage and the situations in which the Romanian economy presents favorable opportunity costs. http://feaa.ucv.ro/annals/v1_2023/010.pdfrelative comparative advantageopportunity costmutually beneficial tradefree tradebalassa model |
| spellingShingle | Daniel-Marius MITRACHE STUDY ON THE DETERMINATION OF COMPARATIVE ADVANTAGE THROUGH THE ANALYSIS OF TRADE FLOWS IN A GLOBAL AND EUROPEAN INTEGRATIONIST CONTEXT THE CASE OF ROMANIA Annals of the University of Craiova: Economic Sciences Series relative comparative advantage opportunity cost mutually beneficial trade free trade balassa model |
| title | STUDY ON THE DETERMINATION OF COMPARATIVE ADVANTAGE THROUGH THE ANALYSIS OF TRADE FLOWS IN A GLOBAL AND EUROPEAN INTEGRATIONIST CONTEXT THE CASE OF ROMANIA |
| title_full | STUDY ON THE DETERMINATION OF COMPARATIVE ADVANTAGE THROUGH THE ANALYSIS OF TRADE FLOWS IN A GLOBAL AND EUROPEAN INTEGRATIONIST CONTEXT THE CASE OF ROMANIA |
| title_fullStr | STUDY ON THE DETERMINATION OF COMPARATIVE ADVANTAGE THROUGH THE ANALYSIS OF TRADE FLOWS IN A GLOBAL AND EUROPEAN INTEGRATIONIST CONTEXT THE CASE OF ROMANIA |
| title_full_unstemmed | STUDY ON THE DETERMINATION OF COMPARATIVE ADVANTAGE THROUGH THE ANALYSIS OF TRADE FLOWS IN A GLOBAL AND EUROPEAN INTEGRATIONIST CONTEXT THE CASE OF ROMANIA |
| title_short | STUDY ON THE DETERMINATION OF COMPARATIVE ADVANTAGE THROUGH THE ANALYSIS OF TRADE FLOWS IN A GLOBAL AND EUROPEAN INTEGRATIONIST CONTEXT THE CASE OF ROMANIA |
| title_sort | study on the determination of comparative advantage through the analysis of trade flows in a global and european integrationist context the case of romania |
| topic | relative comparative advantage opportunity cost mutually beneficial trade free trade balassa model |
| url | http://feaa.ucv.ro/annals/v1_2023/010.pdf |
| work_keys_str_mv | AT danielmariusmitrache studyonthedeterminationofcomparativeadvantagethroughtheanalysisoftradeflowsinaglobalandeuropeanintegrationistcontextthecaseofromania |