期刊名称：Discussion Papers / Ibero America Institute for Economic Research (IAI)
出版年度：2006
卷号：2006
出版社：Ibero America Institute for Economic Research
摘要：It is the objective of this paper to analyze Chile’s development of market
shares in the EU market in the period of 1988 to 2002, testing for the impact of
price competitiveness on market shares with panel data. Price competitiveness is
considered a decisive determinant of Chile’s market shares since Chile’s
successful export products are rather homogeneous products (fish, fruit,
beverages, ores, copper, and wood and products thereof). Six EU countries,
namely France, Germany, Italy, the Netherlands, Spain and the UK, with
perceptible imports from Chile in the above-mentioned sectors, serve as
cross-sections in this study. It is found that Chile’s market shares in all
seven sectors under investigation were unstable in economic terms in the
1988-2002 period. From a statistical point of view market shares were
non-stationary variables, integrated of order one (I(1)) and so were Chile’s
relatives prices and its competitors’ relative prices, which turned out to be
I(1), too. All variables being I(1), a panel cointegration test was conducted.
Pedroni’s residual based cointegration test revealed cointegration between
market shares and relative prices in all seven sectors allowing regression
coefficients to be estimated by means of Dynamic Ordinary Least Squares (DOLS).
The DOLS results were then compared with the ones obtained by the Three Stage
Feasible Generalized Least Squares (3SFGLS) and the Generalized Method of
Moments (GMM) technique.
