This paper augments traditional equations for estimating export demand with a measure of technology intensity of output, and several variables capturing the impact of regional integration and global trade liberalisation programmes. Using data for a panel of 20 OECD countries it is shown that the augmented long run relationships cointegrate and can be embedded into equilibrium correction form. The effects of technology and trade liberalisation were found to be stronger at times than the impact of competitiveness and together these variables help explain large changes in export shares in the presence of relatively little shifts in competitiveness.
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Paper provided by National Institute of Economic and Social Research in its series NIESR Discussion Papers with number
295.