Understanding Export Diversification: Key Drivers and Policy Implications

Giri, Rahul; Quayyum, Saad; Yin, Rujun

doi:10.5089/9781498313087.001

Cited by 39 publications

(43 citation statements)

References 15 publications

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“…This may explain "the reduced importance of the country in global value chains" (López et al, 2015, p.32). Further, Colombia's notable dependence on the performance of the oil sector (see Garavito-Acosta et al, 2020) exposed the country to volatility shocks (see Giri, Quayyum, & Yin, 2019).…”

Section: Colombian Regional and International Trade Policies During Tmentioning

confidence: 99%

Colombian liberalization and integration to world trade markets: Much ado about nothing

Cepeda-López¹,

Gamboa‐Estrada²,

León-Rincón³

et al. 2019

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The objective of this article is to study the evolution of Colombian liberalization and integration into world trade from 1996 to 2018. We achieve our objective by measuring Colombia's importance in the world trade network-by value (US dollars) and volume (tons). We employ several types of network centrality metrics to measure importance (i.e. degree, strength, hub, authority), and examine their dynamics against a set of regional peers that serve as benchmark countries. Consistent with previous literature, more than two decades of dedicated trade policies and institutional changes resulted in increased value and volume of exports and imports. However, when compared with regional peers such as Chile, Brazil, Mexico, and Peru, and China and the United States as trade leading countries, Colombia's centrality in the world trade network did not improve accordingly. Further, excluding a set of key commodities across the world trade network (i.e. minerals, fuels, and metals) resulted in a noticeable worsening in Colombia's centrality. We conclude that Colombia's centrality in the world trade network did not improve, whereas that of some of her regional peers did manifestly (i.e. Peru and Chile). Results highlight the perils of analyzing a country's trade dynamics in isolation and emphasizes the usefulness of examining the world trade network. From the economic policy and institutional perspectives, results underscore the challenges ahead to better integrate into world markets and to achieve long-term economic growth from trade.

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Section: Colombian Regional and International Trade Policies During Tmentioning

confidence: 99%

Colombian liberalization and integration to world trade markets: Much ado about nothing

Cepeda-López¹,

Gamboa‐Estrada²,

León-Rincón³

et al. 2019

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“…Hybrid regime refers to an application of both concession-based and production-sharing or service contracts. Source: Author's elaboration based on information from (EY, 2018 [6]). Note: Resource-rich countries are those that raise 20% or more of government revenue from fossil-fuel resources.…”

Section: The Role Of Fossil Fuels In Government Budgetsmentioning

confidence: 99%

“…5 Revenue either from a contract-based or concession-based scheme can be generated from taxes levied on a firm's profitable endeavours and revenue raised from ownership, quasi-corporate functions, or through services (EITI, 2017 [7]). 6 More specifically, taxes are often collected from company profits, rents, the sale of goods and services, and export revenues; fees and royalties are charged either on production volumes or their market value. 7 Each instrument leads to behavioural responses throughout the life cycle of the project, affecting exploration and development efforts, production trajectories, and government take.…”

Section: The Role Of Fossil Fuels In Government Budgetsmentioning

confidence: 99%

“…However, since a resource-rent tax can only be levied on profits, the 5 See (IMF, 2012[5]) for a fuller discussion on the effects of fiscal instruments on exploration and production decisions. 6 Quasi-corporations are defined as 7 government is not protected against downside risk because it would only start receiving revenue once the project becomes profitable. For countries that need revenue upfront, royalties would be preferable as they ensure a revenue stream as soon as production comes online and are also useful in slowing down the depletion of the resource.…”

Section: The Role Of Fossil Fuels In Government Budgetsmentioning

confidence: 99%

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The fiscal implications of the low-carbon transition

Elgouacem

Halland

Botta

et al. 2020

OECD Green Growth Papers

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The OECD Green Growth Strategy, launched in May 2011, provides concrete recommendations and measurement tools to support countries' efforts to achieve economic growth and development, while at the same time ensuring that natural assets continue to provide the ecosystem services on which our well-being relies. The strategy proposes a flexible policy framework that can be tailored to different country circumstances and stages of development. This paper has been authorised for publication by Mr. Rodolfo Lacy, Director, Environment Directorate. This paper benefited from support by the German Federal Ministry of Environment, Nature Conservation and Nuclear Safety (BMU). The first chapter was drafted by Assia Elgouacem, with inputs from Gurtegh Singh and Enrico Botta, all from the Environment Directorate. The second chapter was drafted by Håvard Halland, Senior Economist at the OECD's Development Centre, and the third chapter was drafted by Enrico Botta and Gurtegh Singh. OECD Green Growth Papers should not be reported as representing the official views of the OECD or of its member countries. The opinions expressed and arguments employed are those of the authors. This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty over any territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law. OECD Green Growth Papers aim to describe preliminary results or research in progress by the author(s) and are published to stimulate discussion on specific topics and obtain feedback from interested audiences. They complement the OECD Green Growth Studies series, which aims to provide in-depth reviews of the green growth issues faced by different sectors.

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“…Finally, the variable RENT, which captures the abundance in natural resources in a given country, has been included in model (1) because some studies (e.g. Alsharif, ; Giri, Quayyum, & Yin, ) have shown that high dependency on natural resources impedes export product diversification. Therefore, a greater level of dependence on natural resources is expected to be associated with a higher degree of export product concentration.…”

Section: Empirical Strategymentioning

confidence: 99%

Multilateral trade liberalisation helps promote export product diversification: Trade tensions damage the prospects of the poorest economies

Gnangnon

2019

Economic Affairs

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Using a large panel dataset over a 20‐year period, this article explores the effect of multilateral trade liberalisation on export product diversification. Empirical results show that multilateral trade liberalisation is positively associated with export product diversification. However, less‐developed economies experience a greater positive effect than relatively advanced economies. This analysis suggests that if trade tensions reduce cooperation on trade matters among World Trade Organization members, it may hinder export product diversification in developing countries, and the poorest countries might be the most adversely affected.

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Understanding Export Diversification: Key Drivers and Policy Implications

Cited by 39 publications

References 15 publications

Colombian liberalization and integration to world trade markets: Much ado about nothing

Colombian liberalization and integration to world trade markets: Much ado about nothing

The fiscal implications of the low-carbon transition

Multilateral trade liberalisation helps promote export product diversification: Trade tensions damage the prospects of the poorest economies

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