TRADE PATTERNS IN CROATIA: K-MEANS CLUSTER ANALYSIS

Edo Rajh and Goran Buturac ()
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Goran Buturac: Institute of Economics, Zagreb

Economic Thought and Practice, 2005, vol. 14, issue 2, 221-232

Abstract: This paper aims at contributing to a better understanding of trade patterns in Croatia. The work is oriented toward the role and contribution of individual product groups in total Croatian trade patterns. K-means cluster analysis is conducted with the RCA indicator, GL index and RUV indicator as variables and product groups at the three-digit level of the Standard International Trade Classification (SITC) as objects. Three different clusters of product groups are identified with statistically significant differences in values of analyzed variables. Implications of generated clusters of product groups are discussed. Product groups with the highest utility in international trade are identified for Croatia.

Keywords: trade patterns; intra-industry specialization; comparative advantages; Croatia (search for similar items in EconPapers)
JEL-codes: F19 (search for similar items in EconPapers)
Date: 2005
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