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Mr. Bogdan Lissovolik, Mr. Julio Escolano, Ms. Stefania Fabrizio, Mr. Werner Schule, Mr. Herman Z Bennett, Mr. Stephen Tokarick, Mr. Yuan Xiao, Ms. Marialuz Moreno Badia, Miss Eva Gutierrez, and Mr. Iryna V. Ivaschenko
This collection of studies analyzes developments in nonprice external competitiveness of France, Greece, Italy, Portugal, and Spain. While France, Italy, and Portugal have experienced substantial export market share losses, Greece and Spain performed relatively well. Export market share losses appear associated with rigidities in resource allocation (sectoral, geographical, technological) relative to peers and lower productivity gains in high value-added sectors. Disaggregated analysis of goods and services export markets provides insights on aspects such as quality, market concentration, growth of destination markets, and geographical and sectoral diversification. Also, increased import penetration, offshoring and FDI could improve productivity and export performance.
Mr. Tidiane Kinda
Using manufacturing and services firm-level data for 30 sub-Saharan African (SSA) countries, this paper shows that taxation is not a significant driver for the location of foreign firms in SSA, while other investment climate factors, such as infrastructure, human capital, and insitutions, are. By analyzing disaggregate FDI data, the paper establishes that, while there is considerable contrast in behavior between vertical FDI (foreign firms producing for export) and horizontal FDI (foreign firms producing for local markets), taxation is not a key determinant for either type of FDI. Horizontal FDI is attracted to areas with higher trade regulations, highlighting interest in protected markets. Furthermore, horizontal FDI is affected more by financing and human capital constraints, and less by infrastructure and institutional constraints, than is vertical FDI.
Mr. Nikoloz Gigineishvili, Mr. Paolo Mauro, and Ke Wang
Is rapid economic growth experienced by the East African Community during the past decade built on solid foundations? To gain some clues, we use a variety of newly-collected and existing data sources to analyze the structural transformation of output and exports, as well as indicators of their quality and sophistication. The move from agriculture to a wide range of other sectors—bodes well for continued growth, as do gradual improvements in quality. Yet, no clear winners on the production side seem to have emerged, to embed a durable comparative advantage in international markets. These observations may instill a note of caution against projecting rapid growth into the distant future.
Suprabha Baniya
This paper investigates the effect of timeliness in accessing the intermediate inputs on the trade pattern. In particular, any country that has a higher ability to transport goods on time has a comparative advantage in industries that place a higher value on the timely delivery of their inputs, and this comparative advantage pattern is stronger for processed goods than for primary goods. To do this, a measure for how intensively any industry demands for the timely delivery of its intermediate inputs is constructed combining Hummels and Schaur (2013)’s calculations of the time sensitivity of products with the input-output tables.