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Breaking Into New Markets

Author

Listed:
  • Richard Newfarmer
  • William Shaw
  • Peter Walkenhorst

Abstract

This book takes a fresh look at export diversification. It concludes that much of the recent literature, though novel, has focused excessively on simply adding new products to export portfolios. One branch of these studies centers on the 'discovery' of exports, and it argues that the threat of entry (imitation) leads to an underinvestment in bringing new products to the global market. Another analytical branch focuses on changing the contents of an export portfolio to mirror the exports of countries with higher incomes on the grounds that these lead to higher productivity. Both strands implicitly point to the need for careful yet active government policies. While such policies are important, this book argues for a more comprehensive view of diversification and hence a more comprehensive trade policy strategy-one that takes into account improving the quality of existing exports, breaking into new geographic markets, and increasing services exports. This publication has been tailored to policy makers, their staffs, and the international development community at large. It is a collection of short articles that summarize major issues and policies on particular topics. Many of the chapters are digests of more formal studies but are presented here with a minimum of underlying econometric and theoretical detail of less interest to policy makers. As the World Bank increases its efforts on 'aid for trade,' Staff are working with countries to help diversify their exports. Along with other development partners, the Bank is providing enhanced assistance to improve competitiveness, facilitate trade, improve trade-related services, and exploit regional and multilateral initiatives to open markets for developing countries. This book makes a substantial contribution to the efforts of developing countries to use the global economy to spur growth and reduce poverty.

Suggested Citation

  • Richard Newfarmer & William Shaw & Peter Walkenhorst, 2009. "Breaking Into New Markets," World Bank Publications, The World Bank, number 2616, June.
  • Handle: RePEc:wbk:wbpubs:2616
    as

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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/2616/481030PUB0Brea101Official0use0only1.pdf?sequence=1
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    References listed on IDEAS

    as
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    2. Lars-Hendrik Roller & Leonard Waverman, 2001. "Telecommunications Infrastructure and Economic Development: A Simultaneous Approach," American Economic Review, American Economic Association, vol. 91(4), pages 909-923, September.
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    7. Bougheas, Spiros & Demetriades, Panicos O. & Morgenroth, Edgar L. W., 1999. "Infrastructure, transport costs and trade," Journal of International Economics, Elsevier, vol. 47(1), pages 169-189, February.
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    11. Jens Matthias Arnold & Aaditya Mattoo & Gaia Narciso, 2008. "Services Inputs and Firm Productivity in Sub-Saharan Africa: Evidence from Firm-Level Data," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 17(4), pages 578-599, August.
    12. Felix Eschenbach & Bernard Hoekman, 2006. "Services Policy Reform and Economic Growth in Transition Economies," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 142(4), pages 746-764, December.
    13. Eschenbach, Felix & Hoekman, Bernard, 2005. "Services policy reform and economic growth in transition economies, 1990-2004," Policy Research Working Paper Series 3663, The World Bank.
    14. Hummels, David, 2001. "Time As A Trade Barrier," Working papers 28701, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    15. Sadao Sakakibara & Barbara B. Flynn & Roger G. Schroeder & William T. Morris, 1997. "The Impact of Just-in-Time Manufacturing and Its Infrastructure on Manufacturing Performance," Management Science, INFORMS, vol. 43(9), pages 1246-1257, September.
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