CURRENCY RATE EFFECT ON FOREIGN TRADE IN POST-SOCIALIST COUNTRIES OF THE BLACK SEA ORGANIZATION FOR ECONOMIC COOPERATION
Keywords:
Black Sea Organization for Economic Cooperation (BSOEC), foreign trade of post-socialist countries, transition economy, GDP, level of price, exchange rate.Abstract
The paper analyses the effect of differences in inflation rate and rise of national currency exchange rate on foreign trade in the countries of transition economy - members of the Black Sea Organization for Economic Cooperation (BSOEC).
The technique is developed to calculate profitability indices of different variants of international exchange of commodities taking into consideration the variable share of imported component in the price of export.
Comparison of annual rates of exports and import growth in nine BSOEC countries with the dynamics of correlation between price and inflation rates proves the concluded dependence.
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