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Persistence In World Export Patterns And Productive Capabilities Across Two Globalizations, Isabella M. Weber, Gregor Semieniuk,, Junshang Liang, Tom Westland
Persistence In World Export Patterns And Productive Capabilities Across Two Globalizations, Isabella M. Weber, Gregor Semieniuk,, Junshang Liang, Tom Westland
Economics Department Working Paper Series
We construct a new global commodity-level export dataset to analyze the persistence of export patterns as proxies of productive capabilities across the first and the current waves of global- ization. We find that productive capabilities are path-dependent and historical capabilities are powerful predictors of countries’ incomes today. This is robust to controlling for persistence in geography, institutions, and colonial status, and confirmed by instrumenting past capabilities with asymmetric reductions in travel times following the switch from sailing to steamboats. We also show that the “great specialization” in primary goods and manufacturing goods exporters coincided with a great polarization in global …
Capital Nationality And Economic Development, Guilherme Klein Martins
Capital Nationality And Economic Development, Guilherme Klein Martins
Economics Department Working Paper Series
This paper reviews different literature strands and performs an empirical test to evaluate how capital ownership, particularly its nationality, might affect long-run economic develop- ment. Our results indicate that low and middle-income countries with larger foreign capital stock in 1980 had lower economic growth over the next 39 years. The estimations also indi- cate that these economies developed a less specialized export basket, which became relatively more concentrated in low-tech goods. The results are inverted to high-income economies, for which the effects are positive on GDP growth and export specialization and complexi- fication. The results are in line with the …