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Documents in EconStor mayThe research is carried out in three workstreams: 1) Aggregate Measures of Competitiveness; 2) Firm Level; 3) Global Value Chains CompNet is chaired by Filippo di Mauro (ECB). The three workstreams are headed respectively by Chiara Osbat (ECB), Antoine Berthou (Banque de France) and João Amador (Banco de Portugal). Julia Fritz (ECB) is responsible for the CompNet Secretariat.The refereeing process of this paper has been coordinated by Editorial Board of the ECB Working Paper Series, led by Philipp Hartmann.The paper is released in order to make the research of CompNet generally available, in preliminary form, to encourage comments and suggestions prior to final publication. The views expressed in the paper are the ones of the author(s) and do not necessarily reflect those of the ECB, the ESCB, and of other organisations associated with the Network.
AcknowledgementsThe views expressed in this research are those of the authors and do not necessarily reflect the official viewpoints of Latvijas Banka or Oesterreichische Nationalbank. The authors would like to thank participants at the BOFIT seminar in Helsinki on August 14, 2012 and at the 10th ECB Emerging Markets Workshop, October 4-5 2012, in Vienna as well as an anonymous referee for their useful suggestions and comments and assume responsibility for any errors and omissions.
Konstantins BenkovskisLatvijas Banka; e-mail: konstantins.benkovskis@bank.lv
Julia WörzOesterreichische Nationalbank; e-mail: julia.woerz@oenb.at
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ABSTRACTBuilding on the methodology pioneered by Feenstra (1994) and Broda and Weinstein (2006), we construct an export price index that adjusts for changes in the set of competitors (variety) and changes in non-price factors (quality in a broad sense) for nine emerging economies (Argentina, Brazil, Chile, China, India, Indonesia, Mexico, Russia and Turkey). The highly disaggregated dataset covers the period 1996−2011 and is based on the standardised 6-digit Harmonized System (HS). Our method highlights notable differences in non-price competitiveness across markets. China shows a huge gain in international competitiveness due to non-price factors. Similarly, Brazil, Chile, India and Turkey show discernible improvements in their competitive position when accounting...