specialization and hence exposure to sector-specific shocks. We revisit the common wisdom and argue that when country-wide shocks are … importance of the two mechanisms (sectoral specialization and cross-country diversification) and provide a new answer to the …

explores its predictions in an empirical analysis of the determinants of international vertical specialization as defined by an … regressed on a number of variables affecting the timeliness of delivery. It is found that vertical specialization is sensitive … barriers and various indicators of infrastructure vary between sectors. Vertical specialization in the electronics sector …