Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/259544 
Year of Publication: 
2022
Series/Report no.: 
LEM Working Paper Series No. 2022/01
Publisher: 
Scuola Superiore Sant'Anna, Laboratory of Economics and Management (LEM), Pisa
Abstract: 
This paper, using a long-term, product-level cross-country dataset, analyzes the trade-growth nexus by introducing two novel indicators able to capture demand and supply attributes of countries' quality of specialization. The Keynesian efficiency index measures demand attractiveness of the export baskets, estimating product-level demand elasticities and weighting them by diversification; the Schumpeterian efficiency index tracks the export basket' technological dynamism proxied by product-level patent intensities. These two dimensions of quality of specialization are effective in explaining the rate and volatility of growth and the duration of growth episodes, identified as periods longer than 8 years of 2% average growth and, even more, of exceptional growth episodes (Ï5%). Our results, robust to a wide range of control variables, suggest that specialization per sé is detrimental for growth resilience while countries with a diversified export structure, specialised either in demand-elastic and technological-dynamic productions are likely to experience longer growth episodes.
Subjects: 
Structural Change
International Trade
Growth Episodes
JEL: 
F41
O11
O14
Document Type: 
Working Paper

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