Three Measures of Trade Dependence: A Critique

Paul V. Johnston

No 278633, Staff Reports from United States Department of Agriculture, Economic Research Service

Abstract: Economists use various trade dependence indexes as an aggregate measure for comparing across countries the importance of trade and the influence of trade policy. Two commonly used indexes, the trade/GDP index and the export/GDP index, lack mathematical attributes necessary to accurately represent trade dependence. A new index developed in this report, the "trade dependence index" (TDI), should better serve the needs of trade researchers. The TDI unambiguously specifies a country's trade dependence on a scale between zero and 100. Moreover, for any degree of trade dependence there is only one index value.

Keywords: Agricultural and Food Policy; International Relations/Trade (search for similar items in EconPapers)
Pages: 31
Date: 1992-04
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uerssr:278633

DOI: 10.22004/ag.econ.278633

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