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The Export Performance Of The 2004 Eu Enlargement Economies Since The 1990s: A Constant Market Share Analysis

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  • Maria Paula Fontoura
  • Pedro Serôdio

Abstract

In this paper, we aim at contributing to the new field of research that intends to bring up-to-date the tools and statistics currently used to look to the current reality given by Global Value Chains (GVC) in international trade and Foreign Direct Investment (FDI). Namely, we make use of the most recent data published by the World Input-Output Database to suggest indicators to measure the participation and net gains of countries by being a part of GVC; and use those indicators in a pooled-regression model to estimate determinants of FDI stocks in Organization for Economic Co-operation and Development (OECD)-member countries. We conclude that one of the measures proposed proves to be statistically significant in explaining the bilateral stock of FDI in OECD countries, meaning that the higher the transnational income generated between two given countries by GVC, taken as a proxy to the participation of those countries in GVC, the higher one could expect the FDI entering those countries to be. The regression also shows the negative impact of the global financial crisis that started in 2009 in the world’s bilateral FDI stocks and, additionally, the particular and significant role played by the People’s Republic of China in determining these stocks. Key Words : International fragmentation of production, Globalization, Global Value Chains, Foreign Direct Investment, Pooled-regression model

Suggested Citation

  • Maria Paula Fontoura & Pedro Serôdio, 2016. "The Export Performance Of The 2004 Eu Enlargement Economies Since The 1990s: A Constant Market Share Analysis," Working Papers Department of Economics 2016/16, ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa.
    • Handle: RePEc:ise:isegwp:wp162016
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    References listed on IDEAS

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    1. Ahmadi-Esfahani, Fredoun Z., 2006. "Constant market shares analysis: uses, limitations and prospects," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 50(4), pages 1-17, December.
    2. Richardson, J David, 1971. "Some Sensitivity Tests for a 'Constant-Market-Shares' Analysis of Export Growth," The Review of Economics and Statistics, MIT Press, vol. 53(3), pages 300-304, August.
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    6. Fredoun Z. Ahmadi-Esfahani, 2006. "Constant market shares analysis: uses, limitations and prospects ," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 50(4), pages 510-526, December.
    7. Milana, Carlo, 1988. "Constant-market-shares analysis and index number theory," European Journal of Political Economy, Elsevier, vol. 4(4), pages 453-478.
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    More about this item

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • C67 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Input-Output Models
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F60 - International Economics - - Economic Impacts of Globalization - - - General

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