Research Paper on Measuring a Country’s Comparative Advantage and Specialization in Services with the VWRCA Index. The Polish Case

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Title: Measuring a Country’s Comparative Advantage and Specialization in Services with the VWRCA Index. The Polish Case

Abstract: The well-known issue of revealed comparative advantage (RCA) is a key topic in the body of literature that is currently available on the servitization of the economy and factors that influence growth and development. This paper contends that the RCA alone offers a relatively static insight into a country’s economic performance, regardless of the popularity, relevance, and validity of the use of the RCA as a part of multivariate queries on the aforementioned topics. Most significantly, the traditional interpretation of the RCA forbids us from examining a nation’s comparative advantage and level of specialization in the services sector. This paper proposes a novel approach to the RCA index, the Visvizi-Wosiek RCA (VWRCA) index, and then applies it to the study of the evolution of the services sector in Poland over the period of 2010-2019 by inserting itself in the broader discussion on ways to get around the limitations inherent in the classic RCA index. The VWRCA index has a threefold added value. I By acknowledging the growing importance of services in the global economy, it can be used as a tool in queries examining the structure of a particular economy, the level of specialization in the production of particular services, and the actual comparative advantage a country has in the production of a particular group or category of services. (ii) The VWRCA index’s exclusive focus on services enables us to examine the volume and velocity of trade in services separately from trade in goods. (iii) As a result of the methodological precision that is achieved, it is possible to include a temporal dimension in the analysis, which in turn provides clues about specific developments and the actual performance of a particular economy with regard to the development of the services sector.

Keywords: RCA; CRCA; VWRCA; servitization; methods; Poland; global economy

Paper Quality: SCOPUS / Web of Science Level Research Paper

Subject: Economics

Writer Experience: 20+ Years

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