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Export performance, competitiveness and commodity composition

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Listed author(s):
  • Athanasoglou, Panayiotis
  • Backinezos, Constantina
  • Georgiou, Evangelia

Abstract

The study of export performance, especially for countries with serious external imbalances, is essential for economic decision-making. This study attempts to evaluate Greek export performance during the 1996-2001 period, using detailed panel data on bilateral trade by product. Factors explaining Greek export market shares are analysed with the method of Constant Market Shares. In addition, the dynamics of the specialization pattern of Greek exports and the effect of price competitiveness on export market shares are examined. The results show a considerable change in export structure, mainly the geographical structure, with a favourable effect on market shares. Although the pattern of comparative advantages and the technological intensity of Greek exports have improved, exports remain concentrated in low- and medium-technology sectors, while product variety and quality have declined. Finally, the results show heterogeneity among the panels. In the aggregate, export market shares are inelastic with respect to relative and absolute prices, which would call for focus on non-price factors to improve competitiveness in international markets. However, elasticities are greater than one for a considerable proportion of commodities.

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File URL: https://mpra.ub.uni-muenchen.de/31997/1/MPRA_paper_31997.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 31997.

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Date of creation: May 2010
Handle: RePEc:pra:mprapa:31997
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Keywords: export performance; market shares; New Trade Theory; comparative advantages; Markov matrix; price and non-price competitiveness;

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Find related papers by JEL classification:
  • F12 - International Economics - - Trade - - - Models of Trade with Imperfect Competition and Scale Economies; Fragmentation
  • F14 - International Economics - - Trade - - - Empirical Studies of Trade
  • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
  • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology

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  1. Antonio Aquino, 1978. "Intra-industry trade and inter-industry specialization as concurrent sources of International Trade in manufactures," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 114(2), pages 275-296, June.
  2. By Michael Funke & Ralf Ruhwedel, 2001. "Product Variety and Economic Growth: Empirical Evidence for the OECD Countries," IMF Staff Papers, Palgrave Macmillan, vol. 48(2), pages 1-1.
  3. Athanasoglou, Panayiotis P. & Bardaka, Ioanna C., 2010. "New trade theory, non-price competitiveness and export performance," Economic Modelling, Elsevier, vol. 27(1), pages 217-228, January.
  4. Swamy, P A V B, 1970. "Efficient Inference in a Random Coefficient Regression Model," Econometrica, Econometric Society, vol. 38(2), pages 311-323, March.
  5. Anderton, Bob, 1999. "UK Trade Performance and the Role of Product Quality, Innovation and Hysteresis: Some Preliminary Results," Scottish Journal of Political Economy, Scottish Economic Society, vol. 46(5), pages 570-595, November.
  6. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
  7. Muscatelli, Vito Antonio & Stevenson, Andrew A & Montagna, Catia, 1995. "Modeling Aggregate Manufactured Exports for Some Asian Newly Industrialized Economies," The Review of Economics and Statistics, MIT Press, vol. 77(1), pages 147-155, February.
  8. Funke, Michael & Ruhwedel, Ralf, 2001. "Export variety and export performance: empirical evidence from East Asia," Journal of Asian Economics, Elsevier, vol. 12(4), pages 493-505.
  9. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
  10. Richardson, J. David, 1971. "Constant-market-shares analysis of export growth," Journal of International Economics, Elsevier, vol. 1(2), pages 227-239, May.
  11. Edwards, Sebastian, 1992. "Trade orientation, distortions and growth in developing countries," Journal of Development Economics, Elsevier, vol. 39(1), pages 31-57, July.
  12. Luca DE BENEDICTIS & Massimo TAMBERI, 2002. "A note on the Balassa Index of Revealed Comparative Advantage," Working Papers 158, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
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Cited by:

  1. Angela Cheptea & Lionel Fontagné & Soledad Zignago, 2014. "European export performance," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 150(1), pages 25-58, February.
  2. Cheptea, Angela, 2011. "Who Gains and Who Loses from China's Growth?," 2011 International Congress, August 30-September 2, 2011, Zurich, Switzerland 114299, European Association of Agricultural Economists.
  3. Ansgar Belke & Dominik Kronen, 2016. "Exchange rate bands of inaction and play-hysteresis in Greek exports to the Euro Area, the US and Turkey: sectoral evidence," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 43(2), pages 349-390, May.
  4. Emira Bečić & Jadranka Švarc, 2015. "Smart Specialisation in Croatia: Between the Cluster and Technological Specialisation," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 6(2), pages 270-295, June.
  5. Shaista Alam, 2015. "The Effect of Preferential Trade Agreements on Pakistan’s Export Performance," Discussion Papers 2015-10, University of Nottingham, CREDIT.
  6. Kasimati, Evangelia & Veraros, Nikolaos, 2013. "Should Greece adopt a dual-currency regime to resolve its economic crisis?," Journal of Policy Modeling, Elsevier, vol. 35(4), pages 588-600.
  7. Goran Nikolić, 2013. "Is There A Structural Improvement In The Merchandise Exports Of The Balkan Countries In The Period 2000-2012?," Economic Annals, Faculty of Economics, University of Belgrade, vol. 58(196), pages 99-132, January –.

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