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Sustainability and Welfare Policy in European Market Economies


Edited By Jürgen Plöhn and George Chobanov

The articles in this volume are selected from the contributions to two international conferences. Authors and teams tackle general economic approaches and developments with respect to new concepts for the production possibility frontier, the connection of development and exports diversification and improvements to the business process. Other contributors address economic sustainability with respect to an institutional path to sustainable growth, available financial instruments, behavioral models of economic expectations, solutions for waste treatment as well as to technological aspects related to security, privacy and IT governance. Finally, a third group of authors discusses health policy in the EU and postsecondary education in Bulgaria as aspects of public welfare.

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Development and Exports Diversification: There is no Hump? (Peter Stoyanov)


Peter Stoyanov

(Sofia University “St. Kliment Ohridski”, Bulgaria)

Development and Exports Diversification: There is no Hump?1

Abstract: Starting from studies which showed a nonlinear relationship between the concentration or diversification of production and the level of development of a country, the paper focuses on the relationship between the concentration of international trade and the level of development on a bilateral basis. Even though the traditional finding (a U-shaped relationship) can be replicated using bilateral data, the nonlinearity of the relationship is largely in the eyes of the modeler.

After a brief overview of the literature the dataset is described. Then quantitative analyses follow. In the majority of the cases (country pairs) there is little evidence of a nonlinear relationship. Thus, despite the seemingly quadratic shape, the relationship is rather well modeled using a simple linear fixed-effects model including just the two countries’ GDPs and their populations. That produces some implications regarding economic policy.

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