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Application of the Decision Support Model to Czech Exports

Author

Listed:
  • Matěj Urban
  • Michal Mejstřík
  • Jana Gutierrez Chvalkovská

Abstract

In this paper, we present our own modification of the Export Decision Support Model (EDSM) and its application on evaluation of export opportunities for Czech companies. The main objective of the model is to identify export opportunities which might help to target the export promotion policy of the Czech Republic. The EDSM methodology is based on sequential elimination of less interesting markets. We have amended and calibrated the EDSM for the Czech Republic and created a new variable - our Index of Export Opportunities - which classifies markets depending on their suitability for export. Calibration was performed on a data sample covering global trade data from 2006 to 2012. The results of the model have been used as a tool for an evidence-based export promotion policy in the Czech Republic. The results were tested by the real foreign demand for Czech products in specific industries and importing countries based on information from Czech embassies and trade promotion organisations.

Suggested Citation

  • Matěj Urban & Michal Mejstřík & Jana Gutierrez Chvalkovská, 2014. "Application of the Decision Support Model to Czech Exports," Acta Oeconomica Pragensia, Prague University of Economics and Business, vol. 2014(2), pages 33-47.
    • Handle: RePEc:prg:jnlaop:v:2014:y:2014:i:2:id:430:p:33-47
    DOI: 10.18267/j.aop.430
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    References listed on IDEAS

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    1. David Havrlant & Roman Hušek, 2011. "Models of Factors Driving the Czech Export," Prague Economic Papers, Prague University of Economics and Business, vol. 2011(3), pages 195-215.
    2. Finger, J M & Kreinin, M E, 1979. "A Measure of 'Export Similarity' and Its Possible Uses," Economic Journal, Royal Economic Society, vol. 89(356), pages 905-912, December.
    3. Saurabh Mishra & Susanna Lundstrom & Rahul Anand, 2011. "Sophistication in Service Exports and Economic Growth," World Bank Publications - Reports 10098, The World Bank Group.
    4. Mishra, Saurabh & Lundstrom, Susanna & Anand, Rahul, 2011. "Sophistication in Service Exports and Economic Growth," World Bank - Economic Premise, The World Bank, issue 55, pages 1-4, April.
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    More about this item

    Keywords

    export; export decision support model; index of export opportunities; export strategy; simulation; calibration;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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