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What You Export Matters

2005 Comparative advantage (International trade)
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Release : 2005
Genre : Comparative advantage (International trade)
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Book Synopsis What You Export Matters by : Ricardo Hausmann

Download or read book What You Export Matters written by Ricardo Hausmann. This book was released on 2005. Available in PDF, EPUB and Kindle. Book excerpt: When local cost discovery generates knowledge spillovers, specialization patterns become partly indeterminate and the mix of goods that a country produces may have important implications for economic growth. We demonstrate this proposition formally and adduce some empirical support for it. We construct an index of the "income level of a country's exports," document its properties, and show that it predicts subsequent economic growth.

Does What You Export Matter?

2012-06-18 Business & Economics
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Release : 2012-06-18
Genre : Business & Economics
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Book Rating : 467/5 ( reviews)

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Book Synopsis Does What You Export Matter? by : Daniel Lederman

Download or read book Does What You Export Matter? written by Daniel Lederman. This book was released on 2012-06-18. Available in PDF, EPUB and Kindle. Book excerpt: Does what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products that only incidentally favor some sectors over others.

What You Export Matters

2015
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Release : 2015
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Book Synopsis What You Export Matters by : Martin Grancay

Download or read book What You Export Matters written by Martin Grancay. This book was released on 2015. Available in PDF, EPUB and Kindle. Book excerpt: In 2007, Hausmann, Hwang and Rodrik (HHR) demonstrated that export specialization patterns have important implications for economic growth. The authors developed an indicator of income level linked to the country's exports they called EXPY and showed that higher values of the indicator lead to higher subsequent economic growth. The present paper tests whether HHR's conclusions are valid even in times of economic crisis and rising prices of primary commodities, using data from 2004-2013. We show that, in the aggregate, higher values of EXPY are connected with faster economic growth. However, the relationship is much more statistically significant in countries that focus heavily on exporting primary commodities than in other countries. This implies that the rising prices of primary commodities in the last decade have altered the traditional link between export sophistication and economic growth. As a result, we argue that EXPY is not a good predictor of future economic performance when the prices of primary commodities are unstable. Policy makers must be aware that, while what countries export is important, it is equally important when they export it: in times of stable prices of primary commodities, a focus on the export of sophisticated goods generates higher economic growth in the future. In times of rising prices of primary commodities, however, the effects can be exactly the opposite.

How You Export Matters

2015
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Release : 2015
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Book Synopsis How You Export Matters by : Xue Bai

Download or read book How You Export Matters written by Xue Bai. This book was released on 2015. Available in PDF, EPUB and Kindle. Book excerpt:

How Exports Matter

2012 Exports
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Release : 2012
Genre : Exports
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Book Synopsis How Exports Matter by : David B. Audretsch

Download or read book How Exports Matter written by David B. Audretsch. This book was released on 2012. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we first propose a proxy for the maturity of a country's export bundle based on product life cycle theory. Employing a conditional latent class model, we then examine the effect of maturity of countries' exports on their economic growth for 98 countries over the period 1988 to 2005. We find that this effect is different across three endogenously determined growth regimes and that real GDP per capita predicts the regime membership. We show that the richest countries grow faster when they specialize in less mature products in an advanced country regime. The effect of maturity turns insignificant for the least advanced countries in our developing country regime. And at intermediate levels of GDP per capita, in an emerging country regime, countries grow faster and exhibit strong convergence by exporting more mature products. Our results confirm earlier evidence that what you export matters for growth. But more importantly, our analysis shows that when you export matters too. Countries in early stages of development should focus on acquiring market share in mature markets with routine technologies whereas emerging economies face the challenge of at some point switching from mature to new products as they approach the technology frontier. At that frontier they must join the advanced economies who continuously switch into (increasingly) less mature innovative products to stay ahead of increasing competition from abroad.

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