STRUCUTRAL CHANGES IN EXPORTS OF VISEGRAD COUNTRIES: EVIDENCE FROM THE SECTORAL DATA

The paper aims to investigate the structural changes in exports of Visegrad group of countries (The Visegrad four, V-4: Poland, the Czech Republic, Slovakia, Hungary) after the EU accession in 2004-2014. We estimate the augmented gravity model for sectoral export flows of V-4 with the rest of the world for each BEC (UN Broad Economic Categories Classification) category by employing Poisson pseudo-maximum-likelihood (PPML) estimator. Estimation results indicate that V-4 mainly gain comparative advantage in "consumer goods" and "transport equipment and their parts and accessories". Trading with the EU15, new member states (NMS) of the EU and post-Soviet states is considerable, however the highest positive impacts come from the trading with the other V-4 countries.