Institutional determinants of export competitiveness among the EU countries: evidence from Bayesian model averaging​​​​ ​

• Autorzy: Beata K. Bierut , Piotr Dybka
• Języki publikacji: EN

Abstrakty

EN

Although the impact of institutions has been broadly studied in the literature on economic growth, their impact on international trade is less well-established. We aim to fill this gap by creating an extended database that, apart from price and non-price factors traditionally analyzed as determinants of exports, also includes measures of institutional development. Next, we introduce the Bayesian Model Averaging to establish which factors play the most important role for the export performance. Our results show that institutions have two types of effects on exports: a direct positive effect on the overall export performance (e.g. regulation) as well as a transformational impact on the export structure (from less to more technologically advanced exports, e.g. freedom to trade internationally). Our results also confirm that technological factors (e.g. patents) have a much greater impact on export performance than price factors. Moreover, some technological factors only have a significant transformational impact on the export structure (e.g. R&D expenditure). Human capital also seems to have only a transformational, rather than direct, impact on exports(original abstract)

Słowa kluczowe

EN

Trade; Competitiveness; Bayesian models; Export; Export competitiveness

PL

Handel; Konkurencyjność; Modele bayesowskie; Eksport; Konkurencyjność eksportu

• Czasopismo: Collegium of Economic Analysis SGH - Working Papers
• Rocznik: 2019
• Numer: nr 43
• Strony: 21

Twórcy

autor

Beata K. Bierut

• Narodowy Bank Polski

autor

Piotr Dybka

• Warsaw School of Economics, Poland

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