Recent empirical work has documented the high concentration of trade flows, and the large role played by few “big hits” in each country’s export. We propose a simple stochastic benchmark against which we assess each economy’s actual number of “big hits”. We show that most European countries underperform the benchmark, while China, the US and Germany do better. A low number of “big hits” (relative to our prediction) is associated with higher export volatility. Looking at possible determinants of “big hits”, we find they depend on the actual performance of each country, so that industrial policy needs to be country-specific.
Big hits, export concentration and volatility / Sufrauj, Shamnaaz Begum; Schiavo, Stefano; Riccaboni, Massimo. - In: ECONOMIA POLITICA. - ISSN 1120-2890. - STAMPA. - 32:2(2015), pp. 135-166. [10.1007/s40888-015-0014-y]
Big hits, export concentration and volatility
Sufrauj, Shamnaaz Begum;Schiavo, Stefano;Riccaboni, Massimo
2015-01-01
Abstract
Recent empirical work has documented the high concentration of trade flows, and the large role played by few “big hits” in each country’s export. We propose a simple stochastic benchmark against which we assess each economy’s actual number of “big hits”. We show that most European countries underperform the benchmark, while China, the US and Germany do better. A low number of “big hits” (relative to our prediction) is associated with higher export volatility. Looking at possible determinants of “big hits”, we find they depend on the actual performance of each country, so that industrial policy needs to be country-specific.File | Dimensione | Formato | |
---|---|---|---|
BH_blind_EcPol_Rev2_FINAL.pdf
Solo gestori archivio
Tipologia:
Post-print referato (Refereed author’s manuscript)
Licenza:
Tutti i diritti riservati (All rights reserved)
Dimensione
1.29 MB
Formato
Adobe PDF
|
1.29 MB | Adobe PDF | Visualizza/Apri |
BigHIts.pdf
Solo gestori archivio
Descrizione: Versione editoriale
Tipologia:
Versione editoriale (Publisher’s layout)
Licenza:
Tutti i diritti riservati (All rights reserved)
Dimensione
1.5 MB
Formato
Adobe PDF
|
1.5 MB | Adobe PDF | Visualizza/Apri |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione