ABSTRACT
A cross-country inspection of aggregate trade data reveals a spectacular growth of trade flows between the Central and East European (CEE) countries and Austria. Overall trade with the Czech Republic, Slovakia, Hungary and Poland grew at an average annual rate of 19.3 per cent between 1989 and 1994. While in 1989 a mere 9.7 per cent of Austria’s exports flew to the CEE countries, up to 1994 their share rose to 13.4 per cent.
