“…Theories and methods What is REC? The index is based on the ground-breaking work of Balassa (1965Balassa ( , 1977 on the revealed comparative advantage (RCA), which is an indicator that has been widely applied by many researchers, such as Balassa and Noland (1989), Palaniappan et al (1997), Hinloopen and Van Marrewijk (2001), Batra and Khan (2005), Henchion and McIntyre (2005), Supongpan , Laursen (2015), Galati et al (2016), Balogh and Jambor (2017), Bojnec and Fert} o (2017), Sayadi et al (2017), Sudarevic et al (2017), Pascucci (2018), Rahman et al (2019) to measure the competitiveness and comparative advantages for different products. RCA is also known as Balassa index or revealed export advantage (REA) index (Rossato et al, 2018).…”