A New Class of Revealed Comparative Advantage Indexes
This paper draws upon a critical analysis of the three RCA indexes in Vollrath ( 1991 ) to propose a new class of RCA indexes. The baseline RCA index in this new class rests on the overall structure of trade, is symmetric, avoids size bias and is compatible with the Kunimoto-Vollrath principle. Poss...
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| Veröffentlicht in: | Open economies review 2022-07, Vol.33 (3), p.477-503 |
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| creator | Danna-Buitrago, Jenny P. Stellian, Rémi |
| description | This paper draws upon a critical analysis of the three RCA indexes in Vollrath (
1991
) to propose a new class of RCA indexes. The baseline RCA index in this new class rests on the overall structure of trade, is symmetric, avoids size bias and is compatible with the Kunimoto-Vollrath principle. Possible modifications of the baseline RCA index are subsequently suggested to take into account GDP
per capita
data and to use adjusted trade data with the aim of better measuring comparative advantages. These modified versions together with the baseline RCA index give rise to a whole new class of RCA indexes. An application to the Euro area indicates that this new class is able to rank countries according to their respective levels of comparative advantages in a more consistent way than alternative RCA indexes. Furthermore, the new class of RCA indexes provides second-best solutions for time stationarity and the desirable distributional characteristics of an RCA index. |
| doi_str_mv | 10.1007/s11079-021-09636-4 |
| format | Article |
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1991
) to propose a new class of RCA indexes. The baseline RCA index in this new class rests on the overall structure of trade, is symmetric, avoids size bias and is compatible with the Kunimoto-Vollrath principle. Possible modifications of the baseline RCA index are subsequently suggested to take into account GDP
per capita
data and to use adjusted trade data with the aim of better measuring comparative advantages. These modified versions together with the baseline RCA index give rise to a whole new class of RCA indexes. An application to the Euro area indicates that this new class is able to rank countries according to their respective levels of comparative advantages in a more consistent way than alternative RCA indexes. Furthermore, the new class of RCA indexes provides second-best solutions for time stationarity and the desirable distributional characteristics of an RCA index.</description><identifier>ISSN: 0923-7992</identifier><identifier>EISSN: 1573-708X</identifier><identifier>DOI: 10.1007/s11079-021-09636-4</identifier><language>eng</language><publisher>New York: Springer US</publisher><subject>Advantages ; Commodities ; Comparative advantage ; Comparative studies ; Development Economics ; Economic Policy ; Economic theory ; Economics ; Economics and Finance ; European Integration ; Eurozone ; Exports ; GDP ; Gross Domestic Product ; Inequality ; International Economics ; International trade ; Macroeconomics/Monetary Economics//Financial Economics ; Per capita ; Research Article</subject><ispartof>Open economies review, 2022-07, Vol.33 (3), p.477-503</ispartof><rights>The Author(s) 2021</rights><rights>The Author(s) 2021. This work is published under http://creativecommons.org/licenses/by/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c453t-14c4d87675c7e1611fb1769ba5be5a979fadc29ce0674c7ba6364342fb48a6503</citedby><cites>FETCH-LOGICAL-c453t-14c4d87675c7e1611fb1769ba5be5a979fadc29ce0674c7ba6364342fb48a6503</cites><orcidid>0000-0003-0241-9481 ; 0000-0002-1143-3376</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://link.springer.com/content/pdf/10.1007/s11079-021-09636-4$$EPDF$$P50$$Gspringer$$Hfree_for_read</linktopdf><linktohtml>$$Uhttps://link.springer.com/10.1007/s11079-021-09636-4$$EHTML$$P50$$Gspringer$$Hfree_for_read</linktohtml><link.rule.ids>314,780,784,27922,27923,41486,42555,51317</link.rule.ids></links><search><creatorcontrib>Danna-Buitrago, Jenny P.</creatorcontrib><creatorcontrib>Stellian, Rémi</creatorcontrib><title>A New Class of Revealed Comparative Advantage Indexes</title><title>Open economies review</title><addtitle>Open Econ Rev</addtitle><description>This paper draws upon a critical analysis of the three RCA indexes in Vollrath (
1991
) to propose a new class of RCA indexes. The baseline RCA index in this new class rests on the overall structure of trade, is symmetric, avoids size bias and is compatible with the Kunimoto-Vollrath principle. Possible modifications of the baseline RCA index are subsequently suggested to take into account GDP
per capita
data and to use adjusted trade data with the aim of better measuring comparative advantages. These modified versions together with the baseline RCA index give rise to a whole new class of RCA indexes. An application to the Euro area indicates that this new class is able to rank countries according to their respective levels of comparative advantages in a more consistent way than alternative RCA indexes. 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1991
) to propose a new class of RCA indexes. The baseline RCA index in this new class rests on the overall structure of trade, is symmetric, avoids size bias and is compatible with the Kunimoto-Vollrath principle. Possible modifications of the baseline RCA index are subsequently suggested to take into account GDP
per capita
data and to use adjusted trade data with the aim of better measuring comparative advantages. These modified versions together with the baseline RCA index give rise to a whole new class of RCA indexes. An application to the Euro area indicates that this new class is able to rank countries according to their respective levels of comparative advantages in a more consistent way than alternative RCA indexes. Furthermore, the new class of RCA indexes provides second-best solutions for time stationarity and the desirable distributional characteristics of an RCA index.</abstract><cop>New York</cop><pub>Springer US</pub><doi>10.1007/s11079-021-09636-4</doi><tpages>27</tpages><orcidid>https://orcid.org/0000-0003-0241-9481</orcidid><orcidid>https://orcid.org/0000-0002-1143-3376</orcidid><oa>free_for_read</oa></addata></record> |
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| subjects | Advantages Commodities Comparative advantage Comparative studies Development Economics Economic Policy Economic theory Economics Economics and Finance European Integration Eurozone Exports GDP Gross Domestic Product Inequality International Economics International trade Macroeconomics/Monetary Economics//Financial Economics Per capita Research Article |
| title | A New Class of Revealed Comparative Advantage Indexes |
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