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Composition of Trade in Latin America and the Caribbean
Author:
Xiaodan Ding
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Metodij Hadzi-Vaskov
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Series:
IMF Working Papers
Volume/Issue:
Volume 2017: Issue 042
Language:
English
Publication Date:
09 Mar 2017
DOI:
https://doi.org/10.5089/9781475585490.001
ISBN:
9781475585490
ISSN:
1018-5941
Pages:
44
Keywords:
WP; product proximity; Trade; Export Composition; Economic Complexity; Diversification; Comparative Advantage; Latin America; Caribbean; product diversification; high-skill product; product concentration; product complexity; technology-intensity product classification; concentration index; product sophistication; Exports; Tariffs; Income inequality; Asia and Pacific; Europe; Sub-Saharan Africa; Global
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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This study analyzes composition of goods trade in Latin America and the Caribbean (LAC) along four main dimensions: revealed comparative advantage, product complexity, sophistication, and diversification. After describing some key trade patterns over the last half century, it compares the findings for LAC with other regions. Second, the study investigates how infrastructure quality, education, and tariff levels affect export composition. Third, using an approach based on product proximity, it aims to predict changes in LAC’s future composition of exports. The study concludes that policies to upgrade human capital and infrastructure are essential for increasing LAC’s export share in high-skill products.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 2017: Issue 042