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Adam Smith Meets an Index of Specialization in International Trade

Author

Listed:
  • Mitchell H. Kellman

    () (Department of Economics, The City College of New York, and the Graduate Center of the City University of New York)

  • Yochanan Shachmurove

    () (Department of Economics, The City College of New York, and the Graduate Center of the City University of New York)

Abstract

Development economists agree that increasing export diversification is a concomitant to economic development. An accepted explanation for Africa’s export stagnation is its dependence on monoculture, and on small number of commodities. Recently a large body of literature focuses on the relationship between economic growth and export specialization. However, there does not exist one generally acceptable measure or index for the concept of “Specialization in International Trade”. This paper suggest one such measure for specialization and its theoretical and conceptual framework are developed and applied to Singapore, South Korea, Malaysia, Mexico, Tunisia and Morocco, during the years of their take offs.

Suggested Citation

  • Mitchell H. Kellman & Yochanan Shachmurove, 2010. "Adam Smith Meets an Index of Specialization in International Trade," PIER Working Paper Archive 10-029, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  • Handle: RePEc:pen:papers:10-029
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    File URL: http://economics.sas.upenn.edu/system/files/working-papers/10-029.pdf
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    References listed on IDEAS

    as
    1. Iordanis Petsas, 2010. "Sustained Comparative Advantage and Semi-Endogenous Growth," Review of Development Economics, Wiley Blackwell, vol. 14(1), pages 34-47, February.
    2. Irving B. Kravis & Robert E. Lipsey, 1971. "Price Competitiveness in World Trade," NBER Books, National Bureau of Economic Research, Inc, number krav71-1.
    3. Vollrath, Thomas L. & Johnston, Paul V., 1991. "The Influence of the Commodity Composition of Trade on Economic Growth," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, issue 1.
    4. Kazunobu Hayakawa, 2007. "Growth Of Intermediate Goods Trade In East Asia," Pacific Economic Review, Wiley Blackwell, vol. 12(4), pages 511-523, October.
    5. Joshua Aizenman & Jaewoo Lee, 2010. "Real Exchange Rate, Mercantilism And The Learning By Doing Externality," Pacific Economic Review, Wiley Blackwell, vol. 15(3), pages 324-335, August.
    6. Sebastian Claro, 2009. "FDI Liberalization as a Source of Comparative Advantage in China," Review of Development Economics, Wiley Blackwell, vol. 13(4), pages 740-753, November.
    7. Kravis, Irving B & Lipsey, Robert E, 1982. "Prices and Market Shares in the International Machinery Trade," The Review of Economics and Statistics, MIT Press, vol. 64(1), pages 110-116, February.
    8. Christopher Balding, 2010. "Joining the World Trade Organization: What is the Impact?," Review of International Economics, Wiley Blackwell, vol. 18(1), pages 193-206, February.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Trade Specialization Indices; Development Theory; Developing Country Export Compositions; International Trade Theory; Trade in Manufactures; Trade and Transformation.;

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • F1 - International Economics - - Trade
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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