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Export diversification in twelve European and Central Asian countries and the role of the commodity boom

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  • Varela, Gonzalo J.

Abstract

This paper examines export diversification along the product and market dimensions for selected countries in the Europe and Central Asia region and, more generally, export performance. While the latter is extraordinary, with average export growth rates above 10 percent, the evidence on diversification is less impressive, and hints at a role played by the interaction of natural resource abundance and the commodity price boom. A cross-country analysis including 171 economies suggests that the region's resource rich countries are less diversified than would be expected given their resource endowments, level of development, and size. The commodity boom period was associated with an increase in concentration for the resource rich along the product dimension: they did not increase the number of products exported and became more reliant on oil and gas. During the same period, the resource poor increased their export product scope while maintaining other concentration indices unchanged. A similar but milder pattern is found for diversification along the destination dimension.

Suggested Citation

  • Varela, Gonzalo J., 2013. "Export diversification in twelve European and Central Asian countries and the role of the commodity boom," Policy Research Working Paper Series 6472, The World Bank.
  • Handle: RePEc:wbk:wbrwps:6472
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    References listed on IDEAS

    as
    1. Jean Imbs & Romain Wacziarg, 2003. "Stages of Diversification," American Economic Review, American Economic Association, vol. 93(1), pages 63-86, March.
    2. Daniel Lederman & William F. Maloney, 2007. "Natural Resources : Neither Curse nor Destiny," World Bank Publications, The World Bank, number 7183.
    3. repec:idb:brikps:59538 is not listed on IDEAS
    4. Daniel Lederman & William F. Maloney, 2007. "Natural Resources : Neither Curse nor Destiny," World Bank Publications, The World Bank, number 7183, September.
      • Anthony J. Venables & William Maloney & Ari Kokko & Claudio Bravo Ortega & Daniel Lederman & Roberto Rigobón & José De Gregorio & Jesse Czelusta & Shamila A. Jayasuriya & Magnus Blomström & L. Colin X, 2007. "Natural Resources: Neither Curse nor Destiny," IDB Publications (Books), Inter-American Development Bank, number 59538 edited by William Maloney & Daniel Lederman, February.
    5. Jose Guilherme Reis & Thomas Farole, 2012. "Trade Competitiveness Diagnostic Toolkit," World Bank Publications, The World Bank, number 2248.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Lord, Montague, 2015. "Regional Economic Integration in Central Asia and South Asia," MPRA Paper 66436, University Library of Munich, Germany.
    2. Jafarli, Said, 2017. "Moves Towards an Islamic Common Market: Evaluation of the Potentials," MPRA Paper 79179, University Library of Munich, Germany, revised 2017.
    3. repec:zbw:espost:163428 is not listed on IDEAS

    More about this item

    Keywords

    Markets and Market Access; Agribusiness&Markets; Water and Industry; Economic Theory&Research; Access to Markets;

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