Industry or Services: The European Specialization Dilemma

Colette Herzog and Deniz Ünal

La Lettre du CEPII, 2011, issue 317

Abstract: Since 2000; international trade has been characterized by a strong demand for primary products; an acceleration of exports from large emerging countries and a rise in trade in services under the leadership of developed countries. How did European specialization evolve in such environment? Europe turns out to have strengthened its tertiary specialization while keeping a strong industrial positioning; in this respect; it stands between the United States and Japan. Further analysis of European countries' comparative advantages shows a great diversity and significant recomposition over the past decade. While most; countries within the European Union maintain a solid industrial specialization and/or have reinforced their specialization in new services; the comparative advantages of some member States are still concentrated in traditional services with a weak growth potential.

Keywords: EUROPE; INTERNATIONAL TRADE; COMPARATIVE ADVANTAGES; INDUSTRY; SERVICES (search for similar items in EconPapers)
JEL-codes: F10 F15 O52 O57 (search for similar items in EconPapers)
Date: 2011-12
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Persistent link: https://EconPapers.repec.org/RePEc:cii:cepill:2011-317

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