What drives export market shares? It depends! An empirical analysis using Bayesian model averaging

Beņkovskis, Konstantīns; Bluhm, Benjamin; Bobeica, Elena; Osbat, Chiara; Zeugner, Stefan

doi:10.1007/s00181-019-01727-z

Cited by 10 publications

(7 citation statements)

References 48 publications

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“…This relatively broad characterisation of NPCF is widely shared by the literature (Algieri, 2015;Algieri et al, 2018;Athanasoglou & Bardaka, 2010;Benkovskis et al, 2020;Benkovskis & Wörz, 2016, 2018Cezar & Cartellier, 2019;Christodoulopoulou & Tkacevs, 2016;D'Adamo, 2017;Emlinger et al, 2019;European Commission, 2010;Ferrero et al, 2014;Giordano & Zollino, 2016).…”

Section: Competitiveness Factorsmentioning

confidence: 82%

Non‐Price Competitiveness Factors—A simple measure and implications for the five largest euro area countries

Xifré

2021

World Economy

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This paper obtains a versatile measure of non-price competitiveness factors (NPCF) based on a simple international trade model. Trade frictions are reinterpreted as the NPCF conditions (inferior product quality, suboptimal geographical and industry specialisation of exports and any other limitations of the production and exporting channels) that inhibit trade. The set-up is applied to the five largest euro area economies for the period 2000-2018. Over this period, NPCF have improved significantly in the Netherlands and Spain, mildly in Italy and Germany and mildly worsened inFrance. In all countries, the improvement in NPCF has been more intense and sustained in the first half of the period and more unstable in the second half. The set-up is also applied at the product level, considering four types of products depending on the stage of processing, rendering results which are similar across product types and aligned with those for the whole economy. The results suggest that the conventional North-South divide in the euro area might not be entirely applicable regarding NPCF.

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Section: Competitiveness Factorsmentioning

confidence: 82%

Non‐Price Competitiveness Factors—A simple measure and implications for the five largest euro area countries

Xifré

2021

World Economy

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“…The same author proved the highest export performance dynamics in case of new Eurozone members [11]. Also, Benkovskis et al (2020) using Bayesian model proved different effect based on the segment of the countries, though, there has been proved one general factor shaping export competitiveness on third countries' markets: competitive pressures from China have strongly affected export performance since the early 2000s [5]. According to authors, labour and total factor productivity are particularly important for the new EU members, while inward FDI rather than domestic investment drives export market share on third countries´ market.…”

Section: Literature Review and Methodologymentioning

confidence: 94%

Competitiveness of the Slovak Republic as a Determinant of its Success in Third Country Markets

Zábojník

Borovská

2021

SHS Web of Conf.

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Research background: Despite long-term goals of the economic strategy of the Slovak Republic, the Slovak competitiveness on the third countries´ markets is relatively weak considering the long tradition in the export activities of the Czechoslovak companies in the past. In terms of the international trade orientation, we note that the method of the Slovak economic strategy is mainly the pro-export support and placement of the Slovak production on foreign markets. Given the openness of the Slovak economy, competitiveness within these markets is crucial and proves the relevance of the research. Slovak Strategy of the External Economic Relations defines two groups of the priority territories for the support and subsidizing of the Slovak exports. Purpose of the article: The paper assesses the results of the strategy supporting the Slovak companies on the third markets and an aim of the paper is to define the key indicators of the competitiveness of the Slovak Republic on the third markets of the prioritized territories. Methods: Authors use basic indicators (export volumes, market share, RCA) as well as export gap method. Findings & Value added: The study indicates only a very small progress in the catching-up process of the Slovak companies in case of export competitiveness in the preferential territories outside of the EU. A comprehensive comparison of the V4 countries was realized and recommendations for a new strategy were formulated.

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“…Obviously, Bayesian statistical techniques have not only been applied to FDI, but also to other fields of economics. These are the cases of export market shares(Benkovskis et al, 2019), the current account balance(Desbordes et al, 2018), the relationship between energy consumption and economic growth(Camarero et al, 2015) and growth models(Fernández et al, 2001). In the present research, we apply a robust probabilistic approach to select the explanatory variables from a large set of potential candidates.…”

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confidence: 99%

Is there a euro effect in the drivers of US FDI? New evidence using Bayesian model averaging techniques

2021

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In this paper we analyze the potential determinants of US outward FDI stock with a particular focus on the euro effect during the period 1985-2017. To this aim, we consider a large set of candidate variables suggested both theory and previous empirical analysis. We select the covariates using Bayesian Model Averaging (BMA), a data-driven methodology. Our sample includes a total of 56 host countries, that represent around the 70% of US outward FDI stock. We study the role of the euro on American FDI both in Europe and the rest of the world. In Europe, we consider various country groups: the European Union (EU), the Euro Area (EA), as well as core and periphery within this last group. We conclude that many variables studied by previous FDI literature cannot be considered robust determinants. Moreover, US OFDI is explained by both horizontal and vertical motives. However, HFDI strategies predominate in EA core countries, whereas VFDI prevails in the periphery. As for the euro effect, the common currency seems to have played an important role encouraging US FDI, being a crucial element in the convergence of EA periphery to its core. In addition, our results indicate that the adoption of the euro has favoured VFDI to the detriment of HFDI.

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What drives export market shares? It depends! An empirical analysis using Bayesian model averaging

Abstract: Non-Technical Summary 4 1. Introduction 6 2. Potential Drivers of External Competitiveness 8 3. Methodology 12 4. Results 17 5. Robustness 20 6. Jointness 21 7. Conclusions 22 Appendix 23 Bibliography 35

Cited by 10 publications

References 48 publications

Non‐Price Competitiveness Factors—A simple measure and implications for the five largest euro area countries

Non‐Price Competitiveness Factors—A simple measure and implications for the five largest euro area countries

Competitiveness of the Slovak Republic as a Determinant of its Success in Third Country Markets

Is there a euro effect in the drivers of US FDI? New evidence using Bayesian model averaging techniques

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