Specialization in the presence of trade and financial openness
Copyright policy )Specialization in the presence of trade and financial openness
This paper sheds new light on the relationship between openness and industrial specialization. The roles of trade and financial openness, separately and in conjunction with each other, are unraveled to study specialization patterns for a panel of 30 countries for more than three decades. Results show that trade openness has a stronger association with industrial specialization in countries with a low degree of intra-industry trade, whereas financial openness has a stronger association with specialization in countries with more developed financial systems. Further, the effect of trade (financial) openness on specialization is enhanced by the level of financial (trade) openness.
- Maastricht University Netherlands
- CPB Netherlands Bureau for Economic Policy Analysis Netherlands
- University of Piraeus Greece
- Ministry of Economic Affairs and Climate Policy Netherlands
- UNIVERSITY OF PIRAEUS RESEARCH CENTER Greece
COUNTRIES, Single Equation Models; Single Variables: Models with Panel Data; Longitudinal Data; Spatial Time Series, f15 - Economic Integration, Economic Integration, Empirical Studies of Trade, l60 - Industry Studies: Manufacturing: General, g29 - Financial Institutions and Services: Other, Trade openness, f14 - Empirical Studies of Trade, MARKET INTERDEPENDENCE, Financial openness, Financial Institutions and Services: Other, GLOBALIZATION, LIBERALIZATION, RISK, c23 - "Single Equation Models; Single Variables: Models with Panel Data; Longitudinal Data; Spatial Time Series", BUSINESS-CYCLE SYNCHRONIZATION, SUDDEN STOPS, Manufacturing, Industry Studies: Manufacturing: General, GROWTH, DIVERSIFICATION, INTEGRATION, Specialization
COUNTRIES, Single Equation Models; Single Variables: Models with Panel Data; Longitudinal Data; Spatial Time Series, f15 - Economic Integration, Economic Integration, Empirical Studies of Trade, l60 - Industry Studies: Manufacturing: General, g29 - Financial Institutions and Services: Other, Trade openness, f14 - Empirical Studies of Trade, MARKET INTERDEPENDENCE, Financial openness, Financial Institutions and Services: Other, GLOBALIZATION, LIBERALIZATION, RISK, c23 - "Single Equation Models; Single Variables: Models with Panel Data; Longitudinal Data; Spatial Time Series", BUSINESS-CYCLE SYNCHRONIZATION, SUDDEN STOPS, Manufacturing, Industry Studies: Manufacturing: General, GROWTH, DIVERSIFICATION, INTEGRATION, Specialization
selected citations These citations are derived from selected sources.This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).13 popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.Top 10% influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).Average impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.Average
Citations provided by BIP!Popularity provided by BIP!