An Empirical Analysis of the Structure of U.S. Manufacturing Trade 1964-1976

Author / Creator

(0000), Richard D. Carney, author

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Online

Summary

The paper examines the structure of trade in manufacturing for the United States, Germany, and Japan to see whether the deterioration of U.S. dynamic comparative advantage widely discussed during t...

The paper examines the structure of trade in manufacturing for the United States, Germany, and Japan to see whether the deterioration of U.S. dynamic comparative advantage widely discussed during the 1960s has continued into the 1970s, and if it is partially responsible for the lagging U.S. trade performance. The first section briefly summarizes the historical record and reopens the debate whether the decline in the U.S. trade position during the latter 1960s was due to a secular decline in U.S. comparative advantage in manufacturing. Aggregate data on overall manufacturing trade are presented and the export performance of the major industrial countries is examined. A constant-market-share analysis is used as the basis for the comparison of export performance. The second section contains an econometric analysis of the composition of manufacturing trade from 1964 to 1976 for 92 three-digit SITC categories.

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