Patterns of Trade and Foreign Direct Investment in European Manufacturing: "Convergence" or "Polarization"?

Paolo Guerrieri and Stefano Manzocchi
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Paolo Guerrieri: [n.a.]

No 70, Working Papers from Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali

Abstract: The issue of "structural convergence", defined as convergence in national patterns of trade specialization across countries that are quite similar in terms of economic size, per capita income, broad tecnological levels, factor endowments, is addressed in this paper with a focus on five large manufacturing sectors. We find that there is no evidence of a general trend towards convergence in trade specialization across the four largest European economies; moreover, the data point out that the role of foreign direct investment as an engine of "convergence" cannot be taken for granted. We also argue that an analysis of the sectoral features of production and investment is required in order to improve our understanding of international trade patterns.

Pages: 39
Date: 1996-03
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Persistent link: https://EconPapers.repec.org/RePEc:anc:wpaper:70

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