The evolution of world trade and the Italian â€˜anomaly': a new look
This work provides an empirical assessment of the 'sophistication' of the Italian international specialization pattern and of its evolution during the period 1980 � 2000. In particular we analyse the well-known Italian trade 'anomaly' combining the information coming from the PRODY index (Hausmann et al. (2005)) with the RCA index. Our results show that in the last two decades, the world trade has been rapidly changing with Italy becoming increasingly more competitive and specialized in products that are characterized by decreasing income/productivity levels. Thus, while the Italian 'anomaly' was not a problem in the past, it may have become an obstacle to future growth.
|Date of creation:||Oct 2006|
|Date of revision:||Oct 2008|
|Publication status:||Forthcoming in Rivista di Politica Economica|
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- Robert C. Feenstra & Andrew K. Rose, .
"Putting Things In Order: Patterns Of Trade Dynamics And Growth,"
Department of Economics
97-14, California Davis - Department of Economics.
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- Luca De Benedictis & Marco Gallegati & Massimo Tamberi, 2007. "Semiparametric analysis of the specialization-income relationship," Applied Economics Letters, Taylor & Francis Journals, vol. 15(4), pages 301-306.
- Dalum, Bent & Laursen, Keld & Verspagen, Bart, 1999. "Does Specialization Matter for Growth?," Industrial and Corporate Change, Oxford University Press, vol. 8(2), pages 267-88, June.
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