Download or read book Increasing Export Diversification in Commodity Exporting Countries written by Mr.Dean A. DeRosa and published by International Monetary Fund. This book was released on 1991-10-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper draws on the neoclassical theory of international trade to examine the limits of efficient export diversification in low-income, commodity-exporting countries. It demonstrates the fundamental importance of relative factor endowments among countries for determining the commodity composition of international trade flows under both certain and uncertain economic conditions. In recognition of the importance of international financial markets for risk-spreading and allocating resources efficiently under uncertainty, the paper emphasizes the importance of “open” economic policies towards international trade in financial assets as well as goods.
Download or read book Increasing Export Diversification in Commodity Exporting Countries written by Dean A. DeRosa and published by . This book was released on 2006 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper draws on the neoclassical theory of international trade to examine the limits of efficient export diversification in low-income, commodity-exporting countries. It demonstrates the fundamental importance of relative factor endowments among countries for determining the commodity composition of international trade flows under both certain and uncertain economic conditions. In recognition of the importance of international financial markets for risk-spreading and allocating resources efficiently under uncertainty, the paper emphasizes the importance of quot;openquot; economic policies towards international trade in financial assets as well as goods.
Download or read book Breaking Into New Markets written by Richard Newfarmer and published by World Bank Publications. This book was released on 2009-03-12 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: International trade in 2009 is projected to contract for the first time since 1982. As a result, export diversifi cation has gained new urgency as one way of using exports to recover lost growth momentum. Moreover, diversifi cation is central to reducing income volatility and sustaining high growth rates, which are especially important for countries with large populations living in poverty. In the 1950s, countries became concerned that their dependence on primary products would lead to steady falls in the purchasing power of primary exports and thus slow growth. A major policy objective of developing countries since that time has been to diversify out of primary products into manufactures. Although some nations have been at least partially successful, many low-income countries remain dependent on a narrow range of primary products. 'Breaking Into New Markets' argues for a comprehensive view of diversifi cation. It explores new thinking and evidence about export diversifi cation and elaborates on policies for its promotion. These policies span tariffs and taxes, services, and government activities to help fi rms take advantage of global opportunities. The book is a compilation of chapters written as short, policy-focused pieces. Many digest longer, more academic papers in an effort to make the information accessible to a larger policy and nontechnical audience. In that sense, the book is a policy primer on what export diversifi cation can and cannot do for growth and how to make diversifi cation happen. Intelligently designed policies that effi ciently address the obstacles to export growth are critical for overall economic growth and poverty reduction. This book offers insights useful to policy makers and practitioners as they embark on efforts to design new programs of competitiveness in their trade strategies.
Download or read book Is Export Diversification the Best Way to Achieve Export Growth and Stability written by Ridwan Ali and published by World Bank Publications. This book was released on 1991 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policymakers - concerned with the instability and downward trend in export earnings for Malawi, Tanzania, and Zimbabwe between 1961 and 1987 - tend to propose the remedy of export diversification. But horizontal diversification would have produced lower export earnings and more instability.
Download or read book Understanding Export Diversification Key Drivers and Policy Implications written by Rahul Giri and published by International Monetary Fund. This book was released on 2019-05-10 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: We identify key factors, from large set of potential determinants, that explain the variation in export diversification across countries and over time using Bayesian Model Averaging (BMA), which addresses model uncertainty and ranks factors in order of importance vis-a-vis their explanatory power. Our analysis suggests, in order to diversify, policy makers should prioritize human capital accumulation and reduce barriers to trade. Other policy areas include improving quality of institutions and developing the financial sector. For commodity exporters reducing barriers to trade is the most important driver of diversification, followed by improving education outcomes at the secondary level and financial sector development.
Download or read book Patterns of Export Diversification in Developing Countries written by Alberto Amurgo-Pacheco and published by World Bank Publications. This book was released on 2012 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses highly disaggregated trade data to investigate geographic and product diversification patterns across a group of developing nations for the period from 1990 to 2005. The econometric investigation shows that the gravity equation fits the observed differences in diversification across nations. The analysis shows that exports at the intensive margin account for the most important share of overall trade growth. At the extensive margin, geographic diversification is more important than product diversification, especially for developing countries. Taking part in free trade agreements, thereby reducing trade costs, and trading with countries in the North are also found to have positive impacts on export diversification for developing countries.
Download or read book Economic Benefits of Export Diversification in Small States written by Arnold McIntyre and published by International Monetary Fund. This book was released on 2018-04-11 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper considers concepts of economic diversification with respect to exports (including service sectors) for small states. We assessed the economic performance of different groups of 34 small states over the period of 1990-2015 and found those more diversified experienced lower output volatility and higher average growth than most other small states. Our findings are consistent with conventional economic theories but we found that export diversification has a more significant impact on reducing output volatility than improving long run growth in small states. Diversification requires fundamental changes and should be contemplated in the context of a cohesive development strategy.
Download or read book Export Diversification and Economic Growth written by United Nations. Economic and Social Commission for Asia and the Pacific and published by UN. This book was released on 2004 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Did Export Diversification Soften the Impact of the Global Financial Crisis written by Mr.Nelson Camanho da Costa Neto and published by International Monetary Fund. This book was released on 2011-05-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study considers the role of export diversification in determining trade outcomes during the global financial crisis. The impact of export diversification (or concentration) is measured by assessing three different dimensions of specialization. First, concentration by geographic destination is considered; that is, whether the bulk of exports from a country go to many or few trading partners. Second, industry/sectoral concentration is considered; that is, whether a country’s exports are scattered across many industries and sectors, or concentrated in just a few. Third, product concentration is considered; that is, whether countries produce many products within their export sectors or just a few. The workhorse gravity trade model is adapted with trade diversification as an additional trade cost, and the model solution is empirically tested on a dataset containing over 500 thousand observations for Latin America. Industry and product concentration are found to significantly affect the resilience of Latin American countries’ trade during the global financial crisis - increasing the diversity of both export sectors and export products within sectors by one standard deviation reduces the quarterly decline in exports by approximately 4.7 percent. Diversifying exports across many different trading partners is not found to significantly affect outcomes.
Download or read book Proximity and Horizontal Policies The Backbone of Export Diversification written by Mr. Gonzalo Salinas and published by International Monetary Fund. This book was released on 2021-03-05 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: The lack of a clear link between general economic fundamentals and export diversification indicators in the literature has fueled the believe that industrial policies are an absolute requisite to diversify exports. This paper, however, does find a strong statistical connection between horizontal policies and diversification by making two novel changes to traditional methodologies: using export categories that lead to diversification (for example, manufactures) as dependent variables, and using a gravity-equation regression setting. Proximity to other economies explains about a third of cross-country heterogeneity in targeted exports, and four fifths together with horizontal policies. Australia, Chile, and New Zealand emerge as new role models for diversification policies.
Download or read book The Economics Of Export Restrictions written by Jimmy Weinblatt and published by Routledge. This book was released on 2019-09-06 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: Export restrictions represent an economic phenomenon that has existed for millenia. This report is the result of a two-year research project on the subject of free access to commodity markets carried out jointly by the David Horowitz Institute for the Research of Developing Countries, Tel Aviv University and the Ibero-Amerika Institut, University of Goettingen. The project was financed by a grant from the Volkswagen Foundation.
Download or read book Commodity Prices and Development written by Roman Grynberg and published by Oxford University Press. This book was released on 2007 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presenting a complete analysis of the issues surrounding commodity prices and development, this study provides a number of recommendations and policy prescriptions to address the unique set of development issues faced by countries reliant on only a handful of commodities for export earnings.
Download or read book Macro Hedging for Commodity Exporters written by Mr.Damiano Sandri and published by International Monetary Fund. This book was released on 2009-10-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a dynamic optimization model to estimate the welfare gains of hedging against commodity price risk for commodity-exporting countries. The introduction of hedging instruments such as futures and options enhances domestic welfare through two channels. First, by reducing export income volatility and allowing for a smoother consumption path. Second, by reducing the country's need to hold foreign assets as precautionary savings (or by improving the country's ability to borrow against future export income). Under plausibly calibrated parameters, the second channel may lead to much larger welfare gains, amounting to several percentage points of annual consumption.
Download or read book Chile A Role Model of Export Diversification Policies written by Mr. Gonzalo Salinas and published by International Monetary Fund. This book was released on 2021-05-27 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Largely because of its vast copper reserves, Chile’s exports are highly concentrated on this low complexity product and this is often cited as a major drawback of its economic policy framework. However, its exogenous copper abundance conceals the country’s success in developing non-mineral and complex exports. This achievement is remarkable considering its remoteness from the large international economic centers, which limits its integration to global value chains. As suggested in this paper, this accomplishment reflects Chile’s strength in policy areas that foster non-mineral exports (including complex exports), making the country a role model in export diversification and complexity policies among emerging market countries.
Download or read book Adding Up Problem written by Takamasa Akiyama and published by World Bank Publications. This book was released on 1994 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Policies designed to address the regional adding- up problem in Sub-Saharan Africa -- such as a region- optimal export tax -- generate unequal benefits among countries. Further, few countries in Sub-Saharan Africa have sufficient market power to influence commodity prices in the long run. Export taxes may prove beneficial for some countries but, at certain levels, transfer resources from smallholders to government with limited welfare gains.
Download or read book Export Diversification in Low Income Countries and Small States Do Country Size and Income Level Matter written by Dongyeol Lee and published by International Monetary Fund. This book was released on 2019-05-24 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Export structure is less diversified in low-income countries (LICs) and especially small states that face resource constraints and small economic size. This paper explores the potential linkages between export structure and economic growth and its volatility in LICs and small states, using a range of indices of export concentration differing in the coverage of industries. The empirical analysis finds that export diversification may promote economic growth and reduce economic volatility in these countries. Furthermore, the analysis demonstrates that the economic benefits of export diversification differ by country size and income level—there are bigger benefits for relatively larger and poorer countries within the group of LICs and small states.
Download or read book Trading on Their Terms Commodity Exporters in the Aftermath of the Commodity Boom written by Aqib Aslam and published by International Monetary Fund. This book was released on 2016-02-15 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Commodity prices have declined sharply over the past three years, and output growth has slowed considerably among countries that are net exporters of commodities. A critical question for policy makers in these economies is whether commodity windfalls influence potential output. Our analysis suggests that both actual and potential output move together with commodity terms of trade, but that actual output comoves twice as strongly as potential output. The weak commodity price outlook is estimated to subtract 1 to 21⁄4 percentage points from actual output growth annually on average during 2015-17. The forecast drag on potential output is about one-third of that for actual output.
