Intra-industry Trade in Croatia: Trends and Determinants

Abstract

This paper investigates trends and determinants in intra-industry trade in Croatia.Intra-industry trade refers to a two-way trade of differentiated products.The level of intra-industry trade between Croatia and EU, CEE, and countries worldwide is calculated using the Grubel-Lloyd index under HS-2 and HS-4 product groups.Dynamic changes in intra-industry trade are shown by calculating marginal intra-industry trade indices.In addition to this, bilateral weighted adjusted intra-industry trade indices for Croatia and 24 most important trading partner countries are calculated in the period from 2001 to 2017.A panel-econometric analysis investigates the determinants of intra-industry trade in Croatia using a random effects model due to time-invariant characteristics of some determinants.The results of the analysis show that gross domestic product, common border,

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