Export sophistication: A dynamic panel data approach

Evžen Kočenda and Karen Poghosyan

No 8, Working Papers from Central Bank 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)
Pages: 28 pages
Date: 2017-11
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Published in Emerging Markets Finance and Trade, September 2018, pages 2799-2814

Downloads: (external link)
https://www.cba.am/EN/panalyticalmaterialsresearches/Analytical_21.06.2019.pdf (application/pdf)

Related works:
Journal Article: Export Sophistication: A Dynamic Panel Data Approach (2018)
Working Paper: Export sophistication: A dynamic panel data approach (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:ara:wpaper:008

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