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Twin transition trade based on multi-dimensional economic complexity

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  • Menéndez de Medina, Maria

    (RS: GSBE MGSoG, Maastricht Graduate School of Governance)

Abstract

Trade worldwide is being reshaped by two major megatrends: advanced digitalization of production and the transition towards environmentally sustainable goods. This chapter examines for the first time the perspective of twin transition export and import diversification within a multi-dimensional economic complexity approach (Nomaler & Verspagen, 2024b, 2024d) and investigate whether this type of productive transformation perpetuates path-dependency processes in 80 countries over 2000-2018. The results suggest that an export/import productive structure based on twin transition products exhibit different economic performance, sustainability, and inequality implications. Productive specialization in these products has been very path-dependent and with a low engagement of developing countries and hence, reinforcing the core-periphery trade division. Furthermore, results suggest that developments in digital and green technological paradigms mainly take place in a selected number of countries that are already highly developed.

Suggested Citation

  • Menéndez de Medina, Maria, 2024. "Twin transition trade based on multi-dimensional economic complexity," MERIT Working Papers 2024-032, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    • Handle: RePEc:unm:unumer:2024032
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    File URL: https://cris.maastrichtuniversity.nl/ws/files/225023549/wp2024-032.pdf
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    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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