Adam Smith Meets an Index of Specialization in International Trade

24 Pages Posted: 7 Aug 2010

See all articles by Mitchell H. Kellman

Mitchell H. Kellman

City University of New York, CUNY City College of New York - Department of Economics

Yochanan Shachmurove

City University of New York, CUNY City College of New York - Department of Economics; The University of Pennsylvania - Department of Economics

Date Written: August 6, 2010

Abstract

Development economists agree that increasing export diversification is a concomitant to economic development. An accepted explanation for Africa’s export stagnation is its dependence on monoculture, and on small number of commodities. Recently a large body of literature focuses on the relationship between economic growth and export specialization. However, there does not exist one generally acceptable measure or index for the concept of “Specialization in International Trade”. This paper suggest one such measure for specialization and its theoretical and conceptual framework are developed and applied to Singapore, South Korea, Malaysia, Mexico, Tunisia and Morocco, during the years of their take offs.

Keywords: Trade Specialization Indice, Development Theory, Developing Country Export Compositions, International Trade Theory, Trade in Manufactures, Trade and Transformation

JEL Classification: O1, O14, F1, F14

Suggested Citation

Kellman, Mitchell H. and Shachmurove, Yochanan, Adam Smith Meets an Index of Specialization in International Trade (August 6, 2010). PIER Working Paper No. 10-029. Available at SSRN: https://ssrn.com/abstract=1654509 or http://dx.doi.org/10.2139/ssrn.1654509

Mitchell H. Kellman

City University of New York, CUNY City College of New York - Department of Economics ( email )

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Yochanan Shachmurove (Contact Author)

City University of New York, CUNY City College of New York - Department of Economics ( email )

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The University of Pennsylvania - Department of Economics ( email )

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