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Export performance, competitiveness and commodity composition

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Author Info

  • Athanasoglou Panagiotis

    (Bank of Greece)

  • Backinezos Constantina

    (Bank of Greece)

  • Evagelia A. Georgiou

    (Bank of Greece)

Abstract

The study of export performance, especially for countries with serious external imbalances, is essential for economic decision-making. This study attempts to evaluate Greek export performance during the 1996-2006 period, using detailed panel data on bilateral trade by product. Factors explaining Greek export market shares are analysed with the method of Constant Market Shares. In addition, the dynamics of the specialization pattern of Greek exports and the effect of price competitiveness on export market shares are examined. The results show a considerable change in export structure, mainly the geographical structure, with a favourable effect on market shares. Although the pattern of comparative advantages and the technological intensity of Greek exports have improved, exports remain concentrated in low- and medium-technology sectors, while product variety and quality have declined. Finally, the results show heterogeneity among the panels. In the aggregate, export market shares are inelastic with respect to relative and absolute prices, which would call for focus on non-price factors to improve competitiveness in international markets. However, elasticities are greater than one for a considerable proportion of commodities.

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Bibliographic Info

Paper provided by Bank of Greece in its series Working Papers with number 114.

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Length: 55
Date of creation: May 2010
Date of revision:
Handle: RePEc:bog:wpaper:114

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Web page: http://www.bankofgreece.gr
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Related research

Keywords: export performance; market shares; New Trade Theory; comparative advantages; Markov matrix; price and non-price competitiveness.;

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References

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  1. Ralf Ruhwedel & Michael Funke, 2001. "Product Variety and Economic Growth Empirical Evidence for the OECD Countries," Quantitative Macroeconomics Working Papers 20104, Hamburg University, Department of Economics.
  2. Luca DE BENEDICTIS & Massimo TAMBERI, 2002. "A note on the Balassa Index of Revealed Comparative Advantage," Working Papers 158, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
  3. Funke, Michael & Ruhwedel, Ralf, 2001. "Export variety and export performance: empirical evidence from East Asia," Journal of Asian Economics, Elsevier, vol. 12(4), pages 493-505.
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  7. Richardson, J. David, 1971. "Constant-market-shares analysis of export growth," Journal of International Economics, Elsevier, vol. 1(2), pages 227-239, May.
  8. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
  9. Richard Blundell & Steve Bond, 1995. "Initial conditions and moment restrictions in dynamic panel data models," IFS Working Papers W95/17, Institute for Fiscal Studies.
  10. Anderton, Bob, 1999. "UK Trade Performance and the Role of Product Quality, Innovation and Hysteresis: Some Preliminary Results," Scottish Journal of Political Economy, Scottish Economic Society, vol. 46(5), pages 570-95, November.
  11. Muscatelli, Vito Antonio & Stevenson, Andrew A & Montagna, Catia, 1995. "Modeling Aggregate Manufactured Exports for Some Asian Newly Industrialized Economies," The Review of Economics and Statistics, MIT Press, vol. 77(1), pages 147-55, February.
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Cited by:
  1. Cheptea, Angela, 2012. "Who gains and who loses from China’s growth?," 131st Seminar, September 18-19, 2012, Prague, Czech Republic 135788, European Association of Agricultural Economists.

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