This article empirically investigates the effects of global shocks on EU-28 countries' patterns of specialisation by focusing on the global financial crisis of 2008. In particular, it addresses the following two research questions: Did the financial crisis change the patterns of specialisation of EU member states? Was the impact of the crisis homogenous across countries and manufacturing products? Answering these questions is important because changes in specialisation generate inequalities, given the shift of the demand from one factor to another. Using an unconditional quantile regression approach, this study demonstrates that the financial crisis had a positive effect which was larger on products in which countries were not specialised before the crisis. Some heterogeneity also emerged at both sectoral and geographical levels.

Comi, S., Grasseni, M., Resmini, L. (2024). Global shocks and the dynamics of EU countries' specialisation. WORLD ECONOMY, 47(8 (August 2024)), 3394-3420 [10.1111/twec.13584].

Global shocks and the dynamics of EU countries' specialisation

Comi, SL;Resmini, L
2024

Abstract

This article empirically investigates the effects of global shocks on EU-28 countries' patterns of specialisation by focusing on the global financial crisis of 2008. In particular, it addresses the following two research questions: Did the financial crisis change the patterns of specialisation of EU member states? Was the impact of the crisis homogenous across countries and manufacturing products? Answering these questions is important because changes in specialisation generate inequalities, given the shift of the demand from one factor to another. Using an unconditional quantile regression approach, this study demonstrates that the financial crisis had a positive effect which was larger on products in which countries were not specialised before the crisis. Some heterogeneity also emerged at both sectoral and geographical levels.
Articolo in rivista - Articolo scientifico
global shocks; revealed comparative advantage; trade mobility and specialisation;
English
10-mag-2024
2024
47
8 (August 2024)
3394
3420
reserved
Comi, S., Grasseni, M., Resmini, L. (2024). Global shocks and the dynamics of EU countries' specialisation. WORLD ECONOMY, 47(8 (August 2024)), 3394-3420 [10.1111/twec.13584].
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10281/475939
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