Montenegrin Trade Specialization Index
25 Pages Posted: 22 Aug 2013
Date Written: August 21, 2013
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: Suggested Citation