Trade Sophistication Indicators: Balancing Diversity and Specialization

Gerard Brady, Eleanor Doyle () and Lisa Noonan

International Advances in Economic Research, 2013, vol. 19, issue 4, 425-438

Abstract: Motivated by the important role of trade in driving and reflecting economic transformation, we focus on the export structure of two small export-oriented economies, Ireland and Finland 2000–2009, from the perspective of the sophistication of both economies’ exports, i.e., the extent to which high-value products characterise each country’s export profile. The Product Space method is used as the basis of our comparison of the economies in terms of their sectors, activities, and structural transformation of the economies. The method focuses attention on the estimated density of the product space as evident in patterns of revealed comparative advantage (RCA) in goods exports. The Information and Communication Technology (ICT) sector, as a significant export sector for both economies, is examined specifically to investigate its further export potential. Copyright International Atlantic Economic Society 2013

Keywords: Economic transformation; Ireland; Finland; Exports; ICT; Product space (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1007/s11294-013-9424-1

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