Fuentes de ventaja comparativa y complejidad económica en Latinoamérica: caso Panamá

Abstract

Abstract: This research focuses on the determinants of Panama's comparative advantage and economic complexity during the period 2000-2019. The study begins with a theoretical and empirical foundation on the country's export dynamics and the characterization of its export profile. The methodology employed was based on the use of econometric models for panel and time series data. The direct competitor of the Panamanian economy was established through the Balassa index. The results indicate that factor endowments are the main determinant of comparative advantage. Labor productivity, despite being significant, has a minor effect on the export structure. In the economic complexity index, only factor endowments were significant, and no long-term relationships were found due to the absence of cointegration. Therefore, factor endowments determine comparative advantage and economic complexity.