IDEAS home Printed from https://ideas.repec.org/
MyIDEAS: Login to save this paper or follow this series

Export Market Performance of OECD countries: an empirical examination of the role of cost competitiveness

  • Wendy Carlin
  • Andrew Glyn
  • John Van Reenen

This paper investigates the relationship between export market shares and relative unit labour costs using a long panel of twelve manufacturing industries across fourteen OECD countries. We ask two questions: (a) how sensitive are export market shares to changes in relative costs and (b) what determines the degree of sensitivity? Although both costs and embodied technology are important, we find that neither can fully explain changing export positions. We explore whether the residual country-specific trends might be linked to Ѥeep' structural features of economies such as human capital investment and national ownership patterns. On the second question, the sensitivity of exports to labour costs is lower in high tech industries and in core ERM countries. The industry elasticities have increased over time, especially in industries subject to increasing product market competition. We discuss the implications of these findings for European Monetary Union.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://www.ifs.org.uk/wps/wp9922.pdf
Download Restriction: no

Paper provided by Institute for Fiscal Studies in its series IFS Working Papers with number W99/22.

as
in new window

Length: 42 pp.
Date of creation: Jun 1999
Date of revision:
Handle: RePEc:ifs:ifsewp:99/22
Contact details of provider: Postal: The Institute for Fiscal Studies 7 Ridgmount Street LONDON WC1E 7AE
Phone: (+44) 020 7291 4800
Fax: (+44) 020 7323 4780
Web page: http://www.ifs.org.uk
Email:


More information through EDIRC

Order Information: Postal: The Institute for Fiscal Studies 7 Ridgmount Street LONDON WC1E 7AE
Email:


References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Shleifer, Andrei & Vishny, Robert W, 1997. " A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-83, June.
  2. Rafael LaPorta & Florencio Lopez de-Silanes & Andrei Shleifer & Robert W. Vishny, 1996. "Law and Finance," Harvard Institute of Economic Research Working Papers 1768, Harvard - Institute of Economic Research.
    • Rafael La Porta & Florencio Lopez-de-Silane & Andrei Shleifer & Robert W. Vishny, 1996. "Law and Finance," NBER Working Papers 5661, National Bureau of Economic Research, Inc.
    • La Porta, Rafael & Lopez-de-Silanes, Florencio & Shleifer, Andrei & Vishny, Robert W., 1998. "Law and Finance," Scholarly Articles 3451310, Harvard University Department of Economics.
    • Rafael LaPorta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, . "Law and Finance," Working Paper 19451, Harvard University OpenScholar.
  3. Menon, Jayant, 1995. " Exchange Rate Pass-Through," Journal of Economic Surveys, Wiley Blackwell, vol. 9(2), pages 197-231, June.
  4. Stephen S. Golub, 1994. "Comparative Advantage, Exchange Rates, and Sectoral Trade Balances of Major Industrial Countries," IMF Staff Papers, Palgrave Macmillan, vol. 41(2), pages 286-313, June.
  5. Giovanni Amendola & Giovanni Dosi & Erasmo Papagni, 1993. "The dynamics of international competitiveness," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 129(3), pages 451-471, September.
  6. Greenhalgh, Christine & Taylor, Paul & Wilson, Rob, 1994. "Innovation and Export Volumes and Prices--A Disaggregated Study," Oxford Economic Papers, Oxford University Press, vol. 46(1), pages 102-35, January.
  7. Anderson, T. W. & Hsiao, Cheng, 1982. "Formulation and estimation of dynamic models using panel data," Journal of Econometrics, Elsevier, vol. 18(1), pages 47-82, January.
  8. Jonathan Eaton & Eva Gutierrez & Samuel Kortum, 1998. "European Technology Policy," NBER Working Papers 6827, National Bureau of Economic Research, Inc.
  9. Giorgia Giovannetti & Hossein Samiei, 1995. "Hysteresis in Exports," IMF Working Papers 95/52, International Monetary Fund.
  10. Eichengreen, Barry & Ghironi, Fabio, 1995. "European Monetary Unification: The Challenges Ahead," CEPR Discussion Papers 1217, C.E.P.R. Discussion Papers.
  11. Erik Berglof, 1997. "Reforming corporate governance: redirecting the European agenda," Economic Policy, CEPR;CES;MSH, vol. 12(24), pages 91-123, 04.
  12. Jan Fagerberg, 1988. "International Competitiveness," Working Papers Archives 1988001, Centre for Technology, Innovation and Culture, University of Oslo.
  13. Jan Fagerberg, 1996. "Competitiveness, Scale and R&D," Working Papers Archives 1996545, Centre for Technology, Innovation and Culture, University of Oslo.
  14. Fagerberg, Jan, 1996. "Technology and Competitiveness," Oxford Review of Economic Policy, Oxford University Press, vol. 12(3), pages 39-51, Autumn.
  15. W.H. Buiter, 1995. "Macroeconomic Policy During a Transition to Monetary Union," CEP Discussion Papers dp0261, Centre for Economic Performance, LSE.
  16. repec:sae:niesru:v:148:y::i:1:p:49-60 is not listed on IDEAS
  17. Engle, Robert F & Granger, Clive W J, 1987. "Co-integration and Error Correction: Representation, Estimation, and Testing," Econometrica, Econometric Society, vol. 55(2), pages 251-76, March.
  18. Goldstein, Morris & Khan, Mohsin S., 1985. "Income and price effects in foreign trade," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 2, chapter 20, pages 1041-1105 Elsevier.
  19. Antoine Magnier & Joël Toujas-Bernate, 1994. "Technology and trade: Empirical evidences for the major five industrialized countries," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 130(3), pages 494-520, September.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:ifs:ifsewp:99/22. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stephanie Seavers)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.