The evolution of non-OECD countries in the twenty-first century: developments in steel trade and the role of technology
Naoki Sekiguchi ()
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Naoki Sekiguchi: Tohoku University
Mineral Economics, 2022, vol. 35, issue 1, No 8, 103-132
Abstract This study examines the evolution of non-OECD (Organisation for Economic Cooperation and Development) countries in the twenty-first century in terms of steel trade and aims to shed light on how emerging/developing countries have evolved since the early 2000s. For this purpose, the revealed symmetric comparative advantage index and the trade balance index were developed for the whole steel industry and some broad product categories. Further, multilevel analysis over time provided important insights into the catch-up dynamics in non-OECD countries, indicating how they have evolved in recent years. The macro-level analysis showed that there were considerable differences in patterns of comparative advantage and international competitiveness between OECD and non-OECD countries. In the twenty-first century, non-OECD countries certainly experienced a steady increase in steel production/exports; however, the results suggest that only a limited number of non-OECD countries improved their international competitiveness. Nevertheless, some seemed to have gradually gained their comparative advantage, albeit marginally. This implies that although the catch-up of non-OECD countries in the international steel market may be progressing gradually, it is still not enough. The micro-level analysis assessed the linkages between technology selection and export performance of major non-OECD steel-producing countries over time. Although the current catch-up of the steel industry in non-OECD countries is limited, the technology selection of steel firms in some countries in the twentieth century and Chinese steel firms’ blast furnace-basic oxygen furnace technology selection in the twenty-first century have significantly impacted their catch-up progress.
Keywords: Non-OECD countries; Steel trade; Technology selection; Comparative advantage; International competitiveness (search for similar items in EconPapers)
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