The trade performance of small states / Roman Grynberg, Mohammad A. Razzaque.

Format:

Book

Author/Creator:

Grynberg, Roman.

Contributor:

Razzaque, Mohammed A.

Commonwealth Secretariat.

Series:

Economic paper (Commonwealth Secretariat) ; 59.

Economic paper ; 59

Language:

English

Subjects (All):

Exports.

States, Small.

International trade.

Physical Description:

x, 61 pages : illustrations ; 24 cm.

Place of Publication:

London : Commonwealth Secretariat, [2004]

Summary:

This paper analyses the trends in the relative significance of small states in world trade and looks at the reasons for their marginalisation. It advocates that dependence on primary products and increasing globalisation explain much of the trend in the declining significance of small states, but that there are four other key factors; -- the structure of the export trade, the unfavourable geographical positions of many small states, their lack of financial resources and the global trade regime under the WTO.

Contents:

2 Small States in World Trade: Volume, Growth Rate and Share 3

2.1 Trade in Merchandise Goods 3

2.2 Exports of Commercial Services 7

2.3 Total Export Trade (Merchandise plus Commercial Services) 9

2.4 Total Trade Transactions 10

3 Performance of Individual Countries 13

3.1 Long-term Trends 13

3.2 Recent Performance of Individual Countries 21

4 Why is Marginalisation of Small States a Cause for Concern? 29

5 Marginalisation in Merchandise Export Trade: A Statistical Analysis 33

5.1 Understanding Marginalisation 33

5.2 A Simple Model of Marginalisation of Small States 36

5.3 Data 36

5.4 Empirical Estimation of the Model 37

Tests for Unit Roots and Co-integration 38

Testing the Variables for Unit Roots 39

Estimation Strategy 43

Test for Existence of a Long-run Relationship 44

Estimating the Long-run Relationship 45

Short-run Dynamics 46

6 Implications for Long-term Trade and Development of Small States 49.

Notes:

Includes bibliographical references (pages 54-56).

ISBN:

0850927730

OCLC:

55484205