Export Diversification in Twelve European and Central Asian Countries and the Role of the Commodity Boom
This paper examines export diversification along the product and market dimensions for selected countries in the Europe and Central Asia region and, more generally, export performance. While the latter is extraordinary, with average export growth r...
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| Language: | English en_US |
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World Bank, Washington, DC
2013
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| Online Access: | http://documents.worldbank.org/curated/en/2013/06/17791351/ http://hdl.handle.net/10986/15604 |
| Summary: | This paper examines export
diversification along the product and market dimensions for
selected countries in the Europe and Central Asia region
and, more generally, export performance. While the latter is
extraordinary, with average export growth rates above 10
percent, the evidence on diversification is less impressive,
and hints at a role played by the interaction of natural
resource abundance and the commodity price boom. A
cross-country analysis including 171 economies suggests that
the region's resource rich countries are less
diversified than would be expected given their resource
endowments, level of development, and size. The commodity
boom period was associated with an increase in concentration
for the resource rich along the product dimension: they did
not increase the number of products exported and became more
reliant on oil and gas. During the same period, the resource
poor increased their export product scope while maintaining
other concentration indices unchanged. A similar but milder
pattern is found for diversification along the destination dimension. |
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