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Increasing Export Diversification in Commodity Exporting Countries: A Theoretical Analysis

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  • A. Derosa

    (International Monetary Fund)

Abstract

Drawing on the neoclassical theory of international trade, this study investigates the limits of efficient diversification in low-income commodity exporting countries, and the fundamental importance of relative factor endowments for determining the commodity composition of international trade flows is demonstrated under both certain and uncertain economic conditions. In recognition of the importance of international financial markets for risk spreading and allocating resources efficiently under uncertainty, open economic policies toward international trade in financial assets as well as goods are emphasized.

Suggested Citation

  • A. Derosa, 1992. "Increasing Export Diversification in Commodity Exporting Countries: A Theoretical Analysis," IMF Staff Papers, Palgrave Macmillan, vol. 39(3), pages 572-595, September.
    • Handle: RePEc:pal:imfstp:v:39:y:1992:i:3:p:572-595
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    Citations

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    Cited by:

    1. Peguero, Felipe & Zapata, Samuel & Sandoval, Luis, 2019. "Agricultural Production of Central America and the Caribbean: Challenges and Opportunities," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 34(3), September.
    2. Bhushan Praveen Jangam & Vaseem Akram, 2020. "Does financial integration drive export diversification? Evidence from a cross-country analysis," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 13(1), pages 45-61, April.
    3. Galy, Michel, 1995. "Diversification in Africa in a macroeconomic perspective," MPRA Paper 62309, University Library of Munich, Germany.

    More about this item

    JEL classification:

    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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