What Explains the Differences in Exports Growth Across Middle-Income Countries?
DOI:
https://doi.org/10.25115/eea.v29i3.4424Keywords:
Exports, Middle-Income Countries, Intensive Margin, Extensive Margin.Abstract
One of the most prominent features of world trade over the past two decades is the growth of middle-income countries' market share in world exports. However, this trend hides large differences across countries. The aim of this paper is to explain these differences. To this end we decompose the export growth in two margins: extensive (diversification of trade relations) and intensive (increase in the value of the trade relationships that already exist). Our results show that differences in exports growth across middle-income countries are explained by the survival and deepening of export relationships. However, diversification has played a minor role in explaining the differences in exports growth among middle-income countries.
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