Montenegrin Trade Specialization Index

25 Pages Posted: 22 Aug 2013

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 21, 2013

Abstract

Montenegro, newly independent since 2006, saw its commodity exports collapse in the worldwide financial crisis of 2008. It took three years for the volume of its exports to recover. Using one to four-digit Standard Industrial Trade Classification (SITC) commodity trade data, this paper analyzes trade patterns as they evolve, both globally, and within individual product sectors, since independence to the year 2012. The Kellman – Shachmurove Trade Specialization Index (TSI) is employed to study the degree of the Montenegrin specialization. The paper warns about high degree of specialization with overreliance on commodity exports of aluminum alloys.

Keywords: Trade Specialization Indices, Concentration Ratios, Herfindahl-Hirshman Index, Machinery Exports, Montenegro

JEL Classification: O1, O14, F1, F14

Suggested Citation

Kellman, Mitchell H. and Shachmurove, Yochanan, Montenegrin Trade Specialization Index (August 21, 2013). PIER Working Paper No. 13-045, Available at SSRN: https://ssrn.com/abstract=2313746 or http://dx.doi.org/10.2139/ssrn.2313746

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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