Trade Patterns in Europe: An assessment of EU and EMU memberships

This dissertation researches in what manner trade flows in Europe have been modified and vary for nations belonging to a preferential trade agreement and a common currency area. Particularly, exactly how exports in Europe are impacted by memberships with the European Union and the EMU. A total of Seventy two countries have been selected which signifies the main trading partners between the European union and the rest of the world. Out of these Seventy two countries, Twenty five represent EU members which include Twelve EMU member nations.The econometric analysis employ a gravity model with 18 variables so as to figure out their influence on trade flows. This is achieved by way of a regression with a log-log equation where the dependent variable is export. The other variables included are selected to describe export flows among the European union members and their trade with EMU countries and the rest of the world…


1 Introduction
1.1 Presentation of the Problem
1.2 Purpose
1.3 Background
1.4 Previous Research
1.5 Outline of the Paper
2 Theoretical Framework
2.1 The Gravity Model of World Trade
2.2 Economic Integration and Preferential Trade Agreements
2.2.1 Trade Creation and Trade Diversion
2.3 Common Currency Effects on Trade
2.4 Trade Affinities
3 Model Formulation
3.1 Variable Formulation
3.1.1 Dependent Variable
3.1.2 Independent Variables
3.1.3 Dummy Variables Dummy Matrix
3.2 Regression Equation
4 Descriptive Data…

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