Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/326820 
Year of Publication: 
2022
Series/Report no.: 
UNU-MERIT Working Papers No. 2022-011
Publisher: 
United Nations University (UNU), Maastricht Economic and Social Research Institute on Innovation and Technology (UNU-MERIT), Maastricht
Abstract: 
We aim to contribute to the literature on product space and diversification by proposing a number of extensions of the current literature: (1) we propose that the alternative but related idea of a country space also has empirical and theoretical appeal; (2) we argue that the loss of comparative advantage should be an integral part of (testing the empirical relevance of) the product space idea; (3) we propose several new indicators for measuring relatedness in the product space; and (4) we propose a non-parametric statistical test based on bootstrapping to test the empirical relevance of the product space idea.
Subjects: 
Diversification
specialization
product space
country space
path dependence of specialization
relatedness
JEL: 
F14
F63
O11
O25
Creative Commons License: 
cc-by-nc-sa Logo
Document Type: 
Working Paper

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