TY - BOOK ID - 64880367 TI - Understanding Export Diversification: Key Drivers and Policy Implications AU - Giri, Rahul. AU - Quayyum, Saad. AU - Yin, Rujun. PY - 2019 SN - 1498315496 1498313086 1498315453 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Commercial policy. KW - Foreign trade policy KW - International trade KW - International trade policy KW - Trade policy KW - Economic policy KW - International economic relations KW - Government policy KW - Investments: Commodities KW - Exports and Imports KW - Labor KW - Natural Resources KW - Multiple or Simultaneous Equation Models: Models with Panel Data KW - Globalization: Economic Development KW - Trade: General KW - Agricultural and Natural Resource Economics KW - Environmental and Ecological Economics: General KW - Commodity Markets KW - Human Capital KW - Skills KW - Occupational Choice KW - Labor Productivity KW - International economics KW - Environmental management KW - Investment & securities KW - Labour KW - income economics KW - Export diversification KW - Natural resources KW - Commodities KW - Exports KW - Human capital KW - Environment KW - Commercial products KW - China, People's Republic of UR - https://www.unicat.be/uniCat?func=search&query=sysid:64880367 AB - We identify key factors, from large set of potential determinants, that explain the variation in export diversification across countries and over time using Bayesian Model Averaging (BMA), which addresses model uncertainty and ranks factors in order of importance vis-a-vis their explanatory power. Our analysis suggests, in order to diversify, policy makers should prioritize human capital accumulation and reduce barriers to trade. Other policy areas include improving quality of institutions and developing the financial sector. For commodity exporters reducing barriers to trade is the most important driver of diversification, followed by improving education outcomes at the secondary level and financial sector development. ER -