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Diversification and Specialization of U.S. States

Author

Listed:
  • Janet Koech

    (Federal Reserve Bank of Dallas)

  • Mark A. Wynne

    (Federal Reserve Bank of Dallas)

Abstract

This paper documents the evolution of the international relationships of individual U.S. states along three dimensions: trade, migration, and finance. We examine how specialized or diversified state economies differ in terms of the products they export and with whom they trade, the origins of the immigrants who live in the state, and the origins of the foreign banks operating in the state. We show that states that are diversified along one of these dimensions are often quite specialized along others. New York is-perhaps, not surprisingly-the most diversified state in terms of global linkages.

Suggested Citation

  • Janet Koech & Mark A. Wynne, 2017. "Diversification and Specialization of U.S. States," The Review of Regional Studies, Southern Regional Science Association, vol. 47(1), pages 63-91, Winter.
  • Handle: RePEc:rre:publsh:v47:y:2017:i:1:p:63-91
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    References listed on IDEAS

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    More about this item

    Keywords

    globalization; international trade; migration; bank assets; diversification; specialization;

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • F22 - International Economics - - International Factor Movements and International Business - - - International Migration
    • F30 - International Economics - - International Finance - - - General
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • R23 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Regional Migration; Regional Labor Markets; Population

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