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Technology, investment and trade: empirical evidence for five Asia-Pacific countries

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  • Gary Madden
  • Scott Savage
  • Su Yin Thong

Abstract

Traditional models of international trade flows find that prices explain significant growth in export market shares. In the new international trade theory nonprice factors are seen to be of great importance for the explanation of trade. Following Magnier and Toujas-Bernate (Weltwirtschaftliches Archiv., 130, 1994), this study introduces nonprice factors, namely gross fixed investment and technology (number of patents accepted), into the export market share equation. Empirical estimation is carried out on five Asia-Pacific countries for the period 1978 to 1993. Results are similar to those of Magnier and Toujas-Bernate (1994) for the OECD, which show that nonprice factors have played an important role in determining export market share during the last decade.

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  • Gary Madden & Scott Savage & Su Yin Thong, 1999. "Technology, investment and trade: empirical evidence for five Asia-Pacific countries," Applied Economics Letters, Taylor & Francis Journals, vol. 6(6), pages 361-363.
    • Handle: RePEc:taf:apeclt:v:6:y:1999:i:6:p:361-363
    DOI: 10.1080/135048599353087
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    1. Florian Verheyen, 2015. "The role of non-price determinants for export demand," International Economics and Economic Policy, Springer, vol. 12(1), pages 107-125, March.
    2. Felix Groba & Jing Cao, 2015. "Chinese Renewable Energy Technology Exports: The Role of Policy, Innovation and Markets," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 60(2), pages 243-283, February.
    3. Bernardina Algieri & Antonio Aquino & Marianna Succurro, 2022. "Trade Specialisation and Changing Patterns of Comparative Advantages in Manufactured Goods," Italian Economic Journal: A Continuation of Rivista Italiana degli Economisti and Giornale degli Economisti, Springer;Società Italiana degli Economisti (Italian Economic Association), vol. 8(3), pages 607-667, November.
    4. Athanasoglou, Panayiotis P. & Bardaka, Ioanna C., 2010. "New trade theory, non-price competitiveness and export performance," Economic Modelling, Elsevier, vol. 27(1), pages 217-228, January.
    5. Panayiotis P. Athanasoglou & Ioanna C. Bardaka, 2008. "Price and Non - Price Competitiveness of Exports of Manufactures," Working Papers 69, Bank of Greece.
    6. Bernardina Algieri, 2014. "Drivers of Export Demand: A Focus on the GIIPS Countries," The World Economy, Wiley Blackwell, vol. 37(10), pages 1454-1482, October.
    7. Christian Holzner & Mario Larch, 2011. "Capacity Constraining Labor Market Frictions in a Global Economy," CESifo Working Paper Series 3597, CESifo.

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    More about this item

    JEL classification:

    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

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