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Intra-Industry, Intra-Product, and Inter-Product Trade

Author

Listed:
  • Michael Michaely

    (The Hebrew University of Jerusalem, Jerusalem, Israel)

  • David Wajnryt

    (The Foreign-Trade Section, Macroeconomics, The Central Bureau of Statistics of Israel, Jerusalem, Israel)

Abstract

The study starts with clarifying the distinction between intra-product and inter-product trade as origins of intra-industry trade. The empirical analysis shows that over the last half century intra-industry trade has strongly intensified, though this trend became less pronounced during the last two decades. Intra-industry trade characterizes the trade flows of Europe distinctly more than of any other major geographical region. It is clearly related to a country’s level of per-capita income; to its size, as measured by aggregate income; to the share of the manufacturing sector in the country’s trade; and, most strongly, to the level of commodity diversification of a country’s trade.

Suggested Citation

  • Michael Michaely & David Wajnryt, 2017. "Intra-Industry, Intra-Product, and Inter-Product Trade," Global Economy Journal (GEJ), World Scientific Publishing Co. Pte. Ltd., vol. 17(3), pages 1-11, September.
    • Handle: RePEc:wsi:gejxxx:v:17:y:2017:i:03:n:gej-2017-0024
    DOI: 10.1142/GEJ-2017-0024
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