Product Characteristics in International Economics - Role and Impact on Economic Development

What is it about?

National economies are linked through flows of capital and goods. This book addresses those linkages, analyzes their benefits for economic development, and evaluates a country’s opportunities to reap the best possible rewards by influencing the linkages. The book focuses on the role of product characteristics in international economics and their impact on economic development. After an introduction to the topic, it analyzes the influence of product sophistication on growth, and offers alternative means of measuring product characteristics. In turn, the book provides evidence for the impact of foreign equity on the characteristics of the products that firms produce. Moreover, it presents empirical findings that prove that the quality of a country's legal and institutional framework is influenced by said country’s predisposition to trade rule-of-law-intensive goods.

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Why is it important?

- The first comprehensive work on the impact of product characteristics on economic development. - Includes practical tips for measuring product characteristics with the aid of a newly developed software using macro-data. - Shows how FDI is changing the production landscape for firms - Presents empirical evidence on the linkages between trade and institutions