IDEAS home Printed from https://ideas.repec.org/p/pen/papers/10-029.html
   My bibliography  Save this paper

Adam Smith Meets an Index of Specialization in International Trade

Author

Listed:
  • Mitchell H. Kellman

    (Department of Economics, The City College of New York, and the Graduate Center of the City University of New York)

  • Yochanan Shachmurove

    (Department of Economics, The City College of New York, and the Graduate Center of the City University of New York)

Abstract

Development economists agree that increasing export diversification is a concomitant to economic development. An accepted explanation for Africa’s export stagnation is its dependence on monoculture, and on small number of commodities. Recently a large body of literature focuses on the relationship between economic growth and export specialization. However, there does not exist one generally acceptable measure or index for the concept of “Specialization in International Trade†. This paper suggest one such measure for specialization and its theoretical and conceptual framework are developed and applied to Singapore, South Korea, Malaysia, Mexico, Tunisia and Morocco, during the years of their take offs.

Suggested Citation

  • Mitchell H. Kellman & Yochanan Shachmurove, 2010. "Adam Smith Meets an Index of Specialization in International Trade," PIER Working Paper Archive 10-029, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    • Handle: RePEc:pen:papers:10-029
    as

    Download full text from publisher

    File URL: https://economics.sas.upenn.edu/sites/default/files/filevault/working-papers/10-029.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Chow, Peter C. Y. & Kellman, Mitchell H., 1993. "Trade - The Engine of Growth in East Asia," OUP Catalogue, Oxford University Press, number 9780195078954.
    2. Vollrath, Thomas L. & Johnston, Paul V., 1991. "The Influence of the Commodity Composition of Trade on Economic Growth," Journal of Agricultural Economics Research, United States Department of Agriculture, Economic Research Service, vol. 43(1), pages 1-8.
    3. Kazunobu Hayakawa, 2007. "Growth Of Intermediate Goods Trade In East Asia," Pacific Economic Review, Wiley Blackwell, vol. 12(4), pages 511-523, October.
    4. Christopher Balding, 2010. "Joining the World Trade Organization: What is the Impact?," Review of International Economics, Wiley Blackwell, vol. 18(1), pages 193-206, February.
    5. Sleuwaegen, Leo E & Dehandschutter, Wim V, 1986. "The Critical Choice between the Concentration Ratio and the H-Index in Assessing Industry Performance," Journal of Industrial Economics, Wiley Blackwell, vol. 35(2), pages 193-208, December.
    6. Kravis, Irving B & Lipsey, Robert E, 1982. "Prices and Market Shares in the International Machinery Trade," The Review of Economics and Statistics, MIT Press, vol. 64(1), pages 110-116, February.
    7. Iordanis Petsas, 2010. "Sustained Comparative Advantage and Semi‐Endogenous Growth," Review of Development Economics, Wiley Blackwell, vol. 14(1), pages 34-47, February.
    8. Christopher S. P. Magee & Stephen P. Magee, 2008. "The United States is a Small Country in World Trade," Review of International Economics, Wiley Blackwell, vol. 16(5), pages 990-1004, November.
    9. Paul Krugman, 2009. "The Increasing Returns Revolution in Trade and Geography," American Economic Review, American Economic Association, vol. 99(3), pages 561-571, June.
    10. Joshua Aizenman & Jaewoo Lee, 2010. "Real Exchange Rate, Mercantilism And The Learning By Doing Externality," Pacific Economic Review, Wiley Blackwell, vol. 15(3), pages 324-335, August.
    11. Irving B. Kravis & Robert E. Lipsey, 1971. "Price Competitiveness in World Trade," NBER Books, National Bureau of Economic Research, Inc, number krav71-1.
    12. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-1370, November.
    13. Sebastian Claro, 2009. "FDI Liberalization as a Source of Comparative Advantage in China," Review of Development Economics, Wiley Blackwell, vol. 13(4), pages 740-753, November.
    14. Kunal Sen, 2009. "International Trade and Manufacturing Employment: Is India following the Footsteps of Asia or Africa?," Review of Development Economics, Wiley Blackwell, vol. 13(4), pages 765-777, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mitchell H. Kellman & Yochanan Shachmurove, 2011. "Herfindahl-Hirschman Meets International Trade and Development Theories," Working Papers 50, Department of Applied Econometrics, Warsaw School of Economics.
    2. Mitchell Kellman & Mitchell Yochanan Shachmurove, 2012. "Trade Sophistication in a Transition Economy: Poland 1980–2009," Working Papers 64, Department of Applied Econometrics, Warsaw School of Economics.
    3. Mitchell H. Kellman & Yochanan Shachmurove, 2012. "The Ability to Adapt and Overcome Obstacles: Machinery Exports of Poland," PIER Working Paper Archive 12-004, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    4. Mitchell H. Kellman & Yochanan Shachmurove, 2013. "Montenegrin Trade Specialization Index," PIER Working Paper Archive 13-045, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
    5. Irving B. Kravis & Robert E. Lipsey, 1984. "Prices and Terms of Trade for Developed Country Exports of Manufactured Goods," International Economic Association Series, in: Béla Csikós-Nagy & Douglas Hague & Graham Hall (ed.), The Economics of Relative Prices, chapter 18, pages 415-453, Palgrave Macmillan.
    6. Victor Sadovnichii & Gennady Osipov & Askar Akaev & Artemy Malkov & Sergey Shulgin, 2018. "Socio-Economic Effectiveness of the Development of the Railway Network in Siberia and the Far East: Mathematical Simulation and Forecast," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(3), pages 758-777.
    7. Robert E. Lipsey & Linda Molinari & Irving B. Kravis, 1991. "Measures of Prices and Price Competitiveness in International Trade in Manufactured Goods," NBER Chapters, in: International Economic Transactions: Issues in Measurement and Empirical Research, pages 144-199, National Bureau of Economic Research, Inc.
    8. Irving B. Kravis & Robert E. Lipsey, 1982. "Towards an Explanation of National Price Levels," NBER Working Papers 1034, National Bureau of Economic Research, Inc.
    9. Adnan Haider Bukhari & Safdar Ullah Khan, 2008. "A Small Open Economy DSGE Model for Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 47(4), pages 963-1008.
    10. Ono, Tetsuo & Uchida, Yuki, 2018. "Human capital, public debt, and economic growth: A political economy analysis," Journal of Macroeconomics, Elsevier, vol. 57(C), pages 1-14.
    11. Yariv, Leeat & Jackson, Matthew O., 2018. "The Non-Existence of Representative Agents," CEPR Discussion Papers 13397, C.E.P.R. Discussion Papers.
    12. Ray C. Fair, 1986. "Sources of Output and Price Variability in a Macroeconometric Model," NBER Working Papers 2112, National Bureau of Economic Research, Inc.
    13. Masashige Hamano & Pierre M. Picard, 2017. "Extensive and intensive margins and exchange rate regimes," Canadian Journal of Economics, Canadian Economics Association, vol. 50(3), pages 804-837, August.
    14. Grillitsch, Markus & Asheim, Björn & Fünfschilling, Lea & Kelmenson, Sophie & Lowe, Nichola & Lundquist, Karl Johan & Mahmoud, Yahia & Martynovich, Mikhail & Mattson, Pauline & Miörner, Johan & Nilsso, 2023. "Rescaling: An Analytical Lense to Study Economic and Industrial Shifts," Papers in Innovation Studies 2023/11, Lund University, CIRCLE - Centre for Innovation Research.
    15. Huang-Meier, Winifred & Freeman, Mark C., 2015. "Aggregate dividends and consumption smoothing," International Review of Financial Analysis, Elsevier, vol. 42(C), pages 324-335.
    16. Mark Schankerman, 1991. "Revisions of Investment Plans and the Stock Market Rate of Return," STICERD - Economics of Industry Papers 05, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
    17. Barbara M. Roberts, "undated". "Transition and Changes in Industrial Concentration in Poland," Discussion Papers in European Economics 98/4, Division of Economics, School of Business, University of Leicester.
    18. Bennet T. McCallum, 1984. "A Linearized Version of Lucas's Neutrality Model," Canadian Journal of Economics, Canadian Economics Association, vol. 17(1), pages 138-145, February.
    19. Molnárová, Zuzana & Reiter, Michael, 2022. "Technology, demand, and productivity: What an industry model tells us about business cycles," Journal of Economic Dynamics and Control, Elsevier, vol. 134(C).
    20. Michael T. Kiley & Jean-Philippe Laforte & Rochelle M. Edge, 2008. "The Sources of Fluctuations in Residential Investment: A View from a Policy-Oriented DSGE Model of the U.S. Economic," 2008 Meeting Papers 990, Society for Economic Dynamics.

    More about this item

    Keywords

    Trade Specialization Indices; Development Theory; Developing Country Export Compositions; International Trade Theory; Trade in Manufactures; Trade and Transformation.;
    All these keywords.

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • F1 - International Economics - - Trade
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pen:papers:10-029. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Administrator (email available below). General contact details of provider: https://edirc.repec.org/data/deupaus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.