<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The study aims at presenting the specificity of the economy and merchandise trade of unrecognized entities in the Caucasus region, with a particular focus on Abkhazia and South Ossetia. The study also analyses the potential changes in merchandise trade structure and volume. The empirical analysis covers the period between 2015 and 2020. The conducted study has revealed that over the last years, Abkhazia and South Ossetia have improved their economic condition, increasing industrial production, developing services, and maintaining trade exchange with other states. However, as the outcomes of the gravity model of trade indicate, both unrecognized entities do not fully utilize its trade potential, especially with Georgia, Russia, and Turkey. Hence legitimizing trade between Abkhazia and South Ossetia may bring economic benefits not only for both entities but also for other countries, especially their immediate neighbors.</p>
</abstract>

The study aims at presenting the specificity of the economy and merchandise trade of unrecognized entities in the Caucasus region, with a particular focus on Abkhazia and South Ossetia. The study also analyses the potential changes in merchandise trade structure and volume. The empirical analysis covers the period between 2015 and 2020. The conducted study has revealed that over the last years, Abkhazia and South Ossetia have improved their economic condition, increasing industrial production, developing services, and maintaining trade exchange with other states. However, as the outcomes of the gravity model of trade indicate, both unrecognized entities do not fully utilize its trade potential, especially with Georgia, Russia, and Turkey. Hence legitimizing trade between Abkhazia and South Ossetia may bring economic benefits not only for both entities but also for other countries, especially their immediate neighbors.

Merchandise trade of the unrecognized entities in West Asia. The gravity model of trade, including Abkhazia and South Ossetia

International Journal of Management and Economics

This work is licensed under the Creative Commons Attribution 4.0 International License.

The study aims at presenting the specificity of the economy and merchandise trade of unrecognized entities in the Caucasus region, with a particular focus on...

Merchandise trade of the unrecognized entities in West Asia. The gravity model of trade, including Abkhazia and South Ossetia

Article Category: Empirical Paper

Published Online: Mar 31, 2023

Page range: 57 - 69

Received: May 18, 2022

Accepted: Dec 14, 2022

DOI: https://doi.org/10.2478/ijme-2022-0029

Keywords
unrecognized entities of West Asia, Abkhazia, South Ossetia, economic and trade relations, gravity model of trade

© 2023 Magdalena Suska, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Merchandise trade of the unrecognized entities in West Asia. The gravity model of trade, including Abkhazia and South Ossetia

Article Category: Empirical Paper

Published Online: Mar 31, 2023

Page range: 57 - 69

Received: May 18, 2022

Accepted: Dec 14, 2022

DOI: https://doi.org/10.2478/ijme-2022-0029

Keywordsunrecognized entities of West Asia, Abkhazia, South Ossetia, economic and trade relations, gravity model of trade

© 2023 Magdalena Suska, published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
unrecognized entities of West Asia, Abkhazia, South Ossetia, economic and trade relations, gravity model of trade