Montenegrin Trade Specialization Index
AbstractMontenegro, newly independent since 2006, saw its commodity exports collapse in the worldwide financial crisis of 2008. It took three years for the volume of its exports to recover. Using one to four-digit Standard Industrial Trade Classification (SITC) commodity trade data, this paper analyzes trade patterns as they evolve, both globally, and within individual product sectors, since independence to the year 2012. The Kellman – Shachmurove Trade Specialization Index (TSI) is employed to study the degree of the Montenegrin specialization. The paper warns about high degree of specialization with overreliance on commodity exports of aluminum alloys.
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Bibliographic InfoPaper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number 13-045.
Length: 25 pages
Date of creation: 21 Aug 2013
Date of revision:
Trade Specialization Indices; Concentration Ratios; Herfindahl-Hirshman Index; Machinery Exports; Montenegro;
Find related papers by JEL classification:
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
- F1 - International Economics - - Trade
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
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- Irving B. Kravis & Robert E. Lipsey & Dennis M. Bushe, 1982. "Prices and Market Shares in the International Machinery Trade," NBER Working Papers 0521, National Bureau of Economic Research, Inc.
- Mitchell Kellman & Yochanan Shachmurove, 2011. "Diversification and Specialization Paradox in Developing Country Trade," Review of Development Economics, Wiley Blackwell, vol. 15(2), pages 212-222, 05.
- Irving B. Kravis & Robert E. Lipsey, 1971. "Price Competitiveness in World Trade," NBER Books, National Bureau of Economic Research, Inc, number krav71-1.
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