Research Areas

The intense changes in the world economy over the past twenty-five years have changed the nature and magnitude of trade flows among countries. The increasing strength of large emerging powers in the international economic system has altered the traditional patterns of specialization, forcing advanced economies to redefine their participation in the global economy. In this context, vertical differentiation -which main component is the relative quality of the products- breaks new ground for advanced economies giving them a comparative advantage over emerging economies.

The present study analyzes the patterns of vertical differentiation of the exports of the countries, combining it with an analysis of the horizontal dimension throughout the various industries. Data covers more than 5,000 products and 150 economies. Next to the more descriptive analysis, an assessment of the international specialization of countries is carried out, from the point of view of their ability to maintain high levels of per capita income, according to their exports sophistication. Also a diagnosis is made of the strengths and weaknesses of the Spanish foreign sector, as well as the challenges and opportunities it faces.