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Export sophistication: A dynamic panel data approach

Evzen Kocenda () and Karen Poghosyan ()
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Karen Poghosyan: Central Bank of Armenia, Economic Research Department, Yerevan, Armenia

No 1, Working Papers from Central Bank of the Republic of Armenia

Abstract: In this paper we analyze export sophistication based on a large panel dataset (2001?2015; 101 countries) and using various estimation algorithms. Using Monte Carlo simulations we evaluate the bias properties of estimators and show that GMM-type estimators outperform instrumentalvariable and fixed-effects estimators. Based on our analysis we document that GDP per capita and the size of the economy exhibit significant and positive effects on export sophistication; weak institutional quality exhibits negative effect. We also show that export sophistication is path-dependent and stable even during a major economic crisis, which is especially important for emerging and developing economies.

Keywords: international trade; export sophistication; emerging and developing economies; specialization; dynamic panel data; Monte-Carlo simulation; panel data estimators (search for similar items in EconPapers)
JEL-codes: C52 C53 F14 F47 O19 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ecm and nep-int
Date: 2017-11
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Published in Emerging Markets Finance and Trade, September 2018, pages 2799-2814

Downloads: (external link)
https://www.cba.am/EN/panalyticalmaterialsresearches/Export_Sophistication.pdf (application/pdf)

Related works:
Journal Article: Export Sophistication: A Dynamic Panel Data Approach (2018) Downloads
Working Paper: Export sophistication: A dynamic panel data approach (2017) Downloads
Working Paper: Determinants of export sophistication: Evidence from Monte Carlo simulations (2016) Downloads
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