How Important Is the New Goods Margin in International Trade?
We propose a methodology for studying changes in bilateral commodity trade due to goods not exported previously or exported only in small quantities. Using a panel of 1,900 country pairs, we find that increased trade of these “least-traded goods” is an important factor in trade growth. This extensiv...
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| Veröffentlicht in: | The Journal of political economy 2013-04, Vol.121 (2), p.358-392 |
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| container_title | The Journal of political economy |
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| creator | Kehoe, Timothy J. Ruhl, Kim J. |
| description | We propose a methodology for studying changes in bilateral commodity trade due to goods not exported previously or exported only in small quantities. Using a panel of 1,900 country pairs, we find that increased trade of these “least-traded goods” is an important factor in trade growth. This extensive margin accounts for 10 percent of the growth in trade for NAFTA country pairs, for example, and 26 percent in trade between the United States and Chile, China, and Korea. Looking at country pairs with no major trade policy change or structural change, however, we find little change in the extensive margin. |
| doi_str_mv | 10.1086/670272 |
| format | Article |
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| ispartof | The Journal of political economy, 2013-04, Vol.121 (2), p.358-392 |
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| language | eng |
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| source | Business Source Complete; JSTOR Archive Collection A-Z Listing; University of Chicago Press Journals (Full run) |
| subjects | Asia Changes Chile Commodities trading Economic fluctuations Economic theory Exporters Exports Growth models Imports International trade Latin America Marginality Panel data Political economy Profit margins Shipments South Korea Structural change Studies Trade barriers Trade development Trade liberalization Trade policy U.S.A |
| title | How Important Is the New Goods Margin in International Trade? |
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