Information barriers, export promotion institutions, and the extensive margin of trade

Abstract

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Does Economic Diplomacy Work? A Meta‐analysis of Its Impact on Trade and Investment

“…Three studies, Polachek (), Ciuriak and Kinjo (), Volpe Martincus et al. (2010a), drop out entirely because the number of observations used for the regressions in their papers is not provided. Likewise, observations of Rose's () extensive sensitivity analyses can no longer be included when accounting for the number of observations .…”

“…Later studies on the topic of export promotion and investment promotion produced positively significant effects of much smaller size (Bobonis and Shatz, 2007;van Veenstra et al, 2011). The empirical work that followed the World Bank publications had a somewhat different and wider scope and dealt with the regional effect of export promotion and embassies (Gil et al, 2008;Volpe Martincus et al, 2010a;Gil-Pareja et al, 2011), the effect of the level of development (van Veenstra et al, 2011) and the effect of export promotion on the extensive and intensive margin of trade (Segura-Cayuela and Vilarrubia, 2008;Volpe Martincus et al, 2010a, 2010bGil-Pareja et al, 2011;Volpe Martincus and Carballo, 2011). 3 Others investigated economic diplomacy by focusing on the contribution of the diplomatic service.…”

“…() and Volpe Martincus et al. (). The academic attention and the popularity of economic diplomacy among policymakers increase the importance of knowledge about the (size) effect and significance of economic diplomacy.…”

Market entry and economic diplomacy

“…G¨org et al (2008) and Bernard and Jensen (2004) found no significant impact of individual grants and subsidies on market entry. Volpe Martincus et al (2010) find that embassies and export promotion offices have a positive effect on the number of goods exported by Latin American and Caribbean countries.…”

Executive summary

“…4 However, these counsellors are concerned with a broad set of tasks, and trade or export promotion is only one of them. According to Martincus et al (2010), foreign missions may stimulate exports but usually these are exports of products with less severe informational impediments (products that are often already being exported) and which accordingly require fewer specific skills to deal with them. Trade counsellors are thus important in promoting exports but they are probably not the most efficient tool for diversifying the export structure, especially if SMEs are the focus of such efforts.…”