Industry or Services: The European Specialization Dilemma
AbstractSince 2000; international trade has been characterized by a strong demand for primary products; an acceleration of exports from large emerging countries and a rise in trade in services under the leadership of developed countries. How did European specialization evolve in such environment? Europe turns out to have strengthened its tertiary specialization while keeping a strong industrial positioning; in this respect; it stands between the United States and Japan. Further analysis of European countries’ comparative advantages shows a great diversity and significant recomposition over the past decade. While most; countries within the European Union maintain a solid industrial specialization and/or have reinforced their specialization in new services; the comparative advantages of some member States are still concentrated in traditional services with a weak growth potential.
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Bibliographic InfoArticle provided by CEPII research center in its journal La Lettre du CEPII.
Volume (Year): (2011)
Issue (Month): 317 ()
EUROPE; INTERNATIONAL TRADE; COMPARATIVE ADVANTAGES; INDUSTRY; SERVICES;
Find related papers by JEL classification:
- F10 - International Economics - - Trade - - - General
- F15 - International Economics - - Trade - - - Economic Integration
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
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