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Revealed comparative advantages and regional specialization: Evidence from Colombia in the Pacific Alliance

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  • Rémi Stellian
  • Jenny Danna-Buitrago

Abstract

This paper is a methodological contribution to the calculation and use of Revealed Comparative Advantage (RCA) indexes. We first explain why the RCA index of Contribution to the Trade Balance (CTB) is theoretically relevant. However, as other RCA indexes might also be reliable measures of comparative advantages, we present standardized tools to compare RCA indexes computed for a given set of countries, products and periods. We illustrate with Colombia in the Pacific Alliance. In that case, the CTB index should be preferred to eight other representative RCA indexes. Therefore, the CTB index might be useful for empirical analysis, besides its theoretical relevance. Last, we suggest highlighting products that constitute strengths (weaknesses) for a country in international trade according to its ability to maintain through time the highest (lowest) CTB index compared with other countries. Again, we illustrate with Colombia in the Pacific Alliance and discuss implications for Colombian economic policy.

Suggested Citation

  • Rémi Stellian & Jenny Danna-Buitrago, 2019. "Revealed comparative advantages and regional specialization: Evidence from Colombia in the Pacific Alliance," Journal of Applied Economics, Taylor & Francis Journals, vol. 22(1), pages 349-379, January.
    • Handle: RePEc:taf:recsxx:v:22:y:2019:i:1:p:349-379
    DOI: 10.1080/15140326.2019.1627722
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    Cited by:

    1. Wajid Islam & Junaid Ahmed & Amjad Masood, 2022. "Unlocking Markets: Assessing Pakistan’s Trade Potential with Gulf Cooperation Council Members," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 27(2), pages 21-38, July-Dec.
    2. Bernardina Algieri & Antonio Aquino & Marianna Succurro, 2022. "Trade Specialisation and Changing Patterns of Comparative Advantages in Manufactured Goods," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 8(3), pages 607-667, November.
    3. Prasada, Imade Yoga & Nugroho, Agus Dwi & Lakner, Zoltan, 2022. "Impact of the FLEGT license on Indonesian plywood competitiveness in the European Union," Forest Policy and Economics, Elsevier, vol. 144(C).
    4. Andiga Dompak Baharaja Tarihoran & Musa Hubeis & Siti Jahroh & Nimmi Zulbainarni, 2023. "Competitiveness of and Barriers to Indonesia’s Exports of Ornamental Fish," Sustainability, MDPI, vol. 15(11), pages 1-26, May.
    5. Danna-Buitrago, Jenny Paola & Stellian, Rémi, 2022. "Which revealed comparative advantage index to choose? Theoretical and empirical considerations," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), December.
    6. Dimitrios Karkanis & Myrsini Fotopoulou, 2023. "Import Substitution or Just “Catching the Wave”? Evidence from the Greek Manufacturing Exports," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 3-15.
    7. Jenny P. Danna-Buitrago & Rémi Stellian, 2022. "A New Class of Revealed Comparative Advantage Indexes," Open Economies Review, Springer, vol. 33(3), pages 477-503, July.
    8. Stellian, Rémi & Danna-Buitrago, Jenny P., 2022. "Revealed Comparative Advantage and Contribution-to-the-Trade-Balance indexes," International Economics, Elsevier, vol. 170(C), pages 129-155.

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