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Export Competitiveness and Technological Capability in Bioenergy Sector

BONGSUK SUNG 1 조원권 1

1우송대학교

Accredited

ABSTRACT

This paper tests the dynamic relationship between each country's export comparative advantage and technological capability in bioenergy technology sector using panel data from 20 OECD countries over the period from 1993 to 2008. The study implements heterogeneous panel unit root tests and cointegration tests, taking the normality and cross-section dependence test into account. The study finds evidence that there is co-movement among the series. Thus, the empirical model to test the casual relationship among the variables in question is based on the panel VECM model and implements panel GMM estimation to determine the dynamic relationships between the series to deal with a simultaneity problem introduced by difference and existence of heteroscedasticity in the genuine errors across industries. The long-run relationship emerging from the DOLS results indicates that 1 unit increase in technological capability increases trade comparative advantage by some 2.3 unit. The RSCA and CO2PC variables respond to a deviation from the long-run equilibrium in the previous period. In the causality results, this study finds evidence of a positive short-run and strong linear causal relation running from RSCA to TSCA, and a positive strong linear causal relation running for TSCA to RSCA.

Citation status

* References for papers published after 2022 are currently being built.