THE IMPORTANCE OF ECONOMIC SANCTIONS FOR THE FOREIGN TRADE BALANCE OF THE VISEGRAD GROUP COUNTRIES IN AGRICULTURE
Journal Title: Roczniki Naukowe Stowarzyszenia Ekonomistów Rolnictwa i Agrobiznesu - Year 2016, Vol 18, Issue 3
Abstract
The article contains an analysis of the influence of economic sanctions between the European Union and Russia introduced in 2014 as a result of the Ukrainian crisis on the foreign trade balance of the Visegrad Group countries (Poland, Hungary, the Czech Republic and Slovakia). The main implications observed in the trade relations of the researched countries in relations to Russia are presented as well as their effect on the foreign trade and the influence of the remaining limitations on the economies of the mentioned countries. It is stated that as a consequence of the undergoing changes in the trade relations with Russia there is an improvement of the trade balance in favour of the Visegrad Group countries and the lack of significant changes in the foreign trade of farm products can indicate on the change of the trade directions and the search for new markets. It is believed that this situation can have a beneficial effect at the moment of raising economic sanctions what can be supported by accumulating the new canals of diliveries and distribution of products as well as will create new possibilities to rise prices and will influence on the quality of exchangeable products.<br/><br/>
Authors and Affiliations
Krzysztof Firlej, Chrystian Firlej, Mateusz Mierzejewski
Keywords
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