ECONOMIC DIPLOMACY AND ITS RELEVANCE IN COUNTRIES WITH DIFFERENT INCOME LEVELS: A PERSPECTIVE FOR TRANSITION ECONOMIES

ECONOMIC DIPLOMACY AND ITS RELEVANCE IN COUNTRIES WITH DIFFERENT INCOME LEVELS: A PERSPECTIVE FOR TRANSITION ECONOMIES

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The study of the effectiveness of economic diplomacy has become a popular topic in the field of international economic relations.Recent trends are confirmed by a large number of academic studies focusing on the evaluation of the performance of diplomatic and consular offices abroad.This paper represents a new attempt to empirically examine the qn85q80aafxza effectiveness of economic diplomacy using the example of a transition country, based on the activities of Ukrainian foreign representations.Over the last decade, this Eastern European state has experienced significant economic turbulence, political instability and a shift in the vector of foreign economic policy, which is the main impetus for the 3m speedglas 9002nc re-evaluation of its economic diplomacy.Using recent data on export flows, the authors apply a gravity model of trade to assess the impact of economic diplomacy on export activity.

The results suggest that embassies are a more relevant means of promoting export flows to low- and middle-income countries.