How does the level of diversification in European countries' economies in exports vary across different regions?
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The level of economic diversification in European countries' exports varies across different regions. Research indicates that economic diversification positively impacts social welfare in Central and Eastern European Countries, especially in transition economies . Factors such as human capital accumulation, GDP per capita, trade openness, and FDI play crucial roles in export diversification across various income groups, with agriculture's share to GDP and official exchange rates affecting concentration . Spatial network effects and proximity to large countries accelerate export diversification, with European countries having a significant long-run spillover impact compared to other major economies like the United States and BRICS nations . Socio-economic indicators like per capita GDP, trade openness, human and physical capital accumulation, and foreign direct investment stimulate export diversification in Central and Eastern European countries . Policymakers should prioritize human capital accumulation, trade barriers reduction, and institutional quality improvement to enhance export diversification efforts .
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| The level of export diversification in Central and Eastern European countries is influenced by factors like GDP per capita, trade openness, capital accumulation, and foreign direct investment, as per the research. | |
15 Citations | European countries exhibit higher long-run spillover impacts on export diversification compared to the United States, Japan, and BRICS nations, accelerating the process, as per the dynamic spatial data analysis. |
1 Citations | Not addressed in the paper. |
14 Citations | Economic diversification positively impacts human development in Central and Eastern European Countries, especially crucial for social welfare in transition economies, as per the study. |
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