Some new views on product space and related diversification

Önder Nomaler () and Bart Verspagen
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Önder Nomaler: UNU-MERIT, Maastricht University

No 2022-011, MERIT Working Papers from United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT)

Abstract: We aim to contribute to the literature on product space and diversification by proposing a number of extensions of the current literature: (1) we propose that the alternative but related idea of a country space also has empirical and theoretical appeal; (2) we argue that the loss of comparative advantage should be an integral part of (testing the empirical relevance of) the product space idea; (3) we propose several new indicators for measuring relatedness in the product space; and (4) we propose a non-parametric statistical test based on bootstrapping to test the empirical relevance of the product space idea.

Keywords: Diversification; specialization; product space; country space; path dependence of specialization; relatedness (search for similar items in EconPapers)
JEL-codes: F14 F63 O11 O25 (search for similar items in EconPapers)
Date: 2022-04-04
New Economics Papers: this item is included in nep-tid
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Working Paper: Some New Views on Product Space and Related Diversification (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:unm:unumer:2022011

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