In retaliating against Trump’s March 2025 imposition of import tariffs on EU aluminum and steel, the EU’s response should be twofold: one, at the EU level, to apply retaliatory tariffs and negotiations, and two, to support country-level efforts to minimize the impact of tariffs, including...

Vietnam’s path to sustainable and innovative growth increasingly depends on how effectively it diversifies and repositions its export portfolio in the global market, or how the country “brand” itself through its exports to the world. Using data from UN Comtrade, we construct the Product...

Thisstudy investigatesthe impact of pricing and export diversification on the resilience of Russian manufacturing firms within global value chains (GVCs) during two consecutive shocks: the COVID-19 pandemic and the sanctions of 2022. The research examines how pricing affects firms' ability to...

The effects of the betterment of enforced intellectual property rights (IPRs) provisions on services export diversification are investigated. The analysis used an unbalanced panel dataset of 76 developing countries over the period of 1970-2014. The empirical analysis is based on the feasible...

Using time series data from 1945 to 2023, this paper develops stylized facts to trace the historical origins of the Philippines' narrow economic base. Econometric models are then estimated to analyze the drivers and benefits of economic diversification in the Philippines. The empirical results...

Industrial policies pursued in many developing countries in the 1950s-1970s largely failed while the industrial policies of the Asian Miracles succeeded. We argue that a key factor of success is industrial policy with export orientation in contrast to import substitution. Exporting encouraged...

Largely because of its vast copper reserves, Chile's exports are highly concentrated on this low complexity product and this is often cited as a major drawback of its economic policy framework. However, its exogenous copper abundance conceals the country's success in developing non-mineral and...

Foreign trade is a major factor in a country's economic development since it facilitates the integration of the national economy into the global system by granting access to foreign resources, technologies, and markets. In the context of globalisation, economic processes are constantly changing,...

We propose a novel measure to investigate firms' product specialisation: product coreness, that captures the centrality of exported products within the firm's export basket. We study product coreness using firm-product level data between 2018 and 2020 for Colombia, Ecuador, and Peru. Three main...

Diversification is an important component of the development of any economy. The reason for this is the increase in the country's resilience to external stimuli, which makes progress more gradual, constant and predictable. Thus, the study of the possibilities of diversifying the economy is very...

The aim of the study is to consider the concept of diversification in the context of foreign trade, to clarify the classification of types of foreign trade diversification, ways to assess the level and to conduct a mass assessment of the level of foreign trade diversification of countries. The...

A joint study by the WTO and IFC established that the low share of trade supported by trade finance (25%) in the four largest economies of West Africa (Nigeria, Côte d'Ivoire, Ghana and Senegal) was a major constraint in further expanding and diversifying trade flows and trade integration....

This paper examines the role of corruption in the relationship between natural resources and exports diversifi­ cation 1980-2020) through the bound test of co-integration and the Fully Modified Ordinary Least Square (FMOLS). The main findings reveal that, natural resource accentuates export...

With international production fragmentation, countries specialize in activities along the production chain rather than particular products. This paper therefore analyzes export diversification taking an activity perspective. It measures export activities combining new data on the export income...

The main aim of this study was to examine the effect of financial development on Ethiopia's export diversification by applying annual time series data from the period 1980 to 2019. An ARDL estimation technique was employed. In the short run financial development, external debt, and real gross...

Czechia is one of the most export-oriented countries, reaching high levels of economic complexity. However, its innovative capabilities remain limited. Taking these factors into consideration, we determined the country's optimal diversification path by identifying prospective export sectors...

Diversification is an important component of the development of any economy. The reason for this is the increase in the country's resilience to external stimuli, which makes progress more gradual, constant and predictable. Thus, the study of the possibilities of diversifying the economy is very...

This selected issue paper investigates the drivers of diversification and explores the potential for fostering diversification in Niger with a focus on horizontal policies. The empirical results from panel regressions indicate that reforms to enhance human capital and the quality of...

With ready-made garments accounting for almost 85% of Bangladesh’s exports, limited export diversification remains a pressing issue for the country. This paper conducts a brief review of the literature to investigate potential explanations for why Bangladesh’s export revenue is heavily...

Existing literature found both positive and negative relationship between geographical diversification and economic performance. Our research helps reconcile such contradictory results, and stresses that such conflict is associated with relatedness between export markets. Using China’s custom...

Using a dynamic panel model and data on 107 countries, this paper investigates the role of institutions in the FDI-export diversification relationship. The results indicate that the effect of FDI on export diversification depends on the quality of institutions. On one hand, for OECD countries...