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Montenegrin Trade Specialization Index


  • Mitchell H. Kellman

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

  • Yochanan Shachmurove

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


Montenegro, newly independent since 2006, saw its commodity exports collapse in the worldwide financial crisis of 2008. It took three years for the volume of its exports to recover. Using one to four-digit Standard Industrial Trade Classification (SITC) commodity trade data, this paper analyzes trade patterns as they evolve, both globally, and within individual product sectors, since independence to the year 2012. The Kellman – Shachmurove Trade Specialization Index (TSI) is employed to study the degree of the Montenegrin specialization. The paper warns about high degree of specialization with overreliance on commodity exports of aluminum alloys.

Suggested Citation

  • Mitchell H. Kellman & Yochanan Shachmurove, 2013. "Montenegrin Trade Specialization Index," PIER Working Paper Archive 13-045, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  • Handle: RePEc:pen:papers:13-045

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    References listed on IDEAS

    1. Irving B. Kravis & Robert E. Lipsey, 1971. "Price Competitiveness in World Trade," NBER Books, National Bureau of Economic Research, Inc, number krav71-1, January.
    2. Goran Buturac & Ivan Teodorovic, 2012. "The Impacts of the Global Recession on Southeast European Countries," Eastern European Economics, Taylor & Francis Journals, vol. 50(1), pages 78-97, January.
    3. 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.
    4. Mitchell Kellman & Yochanan Shachmurove, 2011. "Diversification and Specialization Paradox in Developing Country Trade," Review of Development Economics, Wiley Blackwell, vol. 15(2), pages 212-222, May.
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    More about this item


    Trade Specialization Indices; Concentration Ratios; Herfindahl-Hirshman Index; Machinery Exports; Montenegro;

    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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