Improving the quality of exported goods in international trade

Abstract

Empirical studies confirm that exports of more sophisticated products support economic growth more efficiently than those of raw materials. In the meantime, improving the quality of exports can also be seen as a right tool for counteracting external shocks. The current research attempts to test this hypothesis based on cross-country econometric analysis using data for the period of the global financial crisis of 2007-2008. The results show that the quality of exports indeed has a positive role to play in the dynamics of economic recovery. Based on the results of the study several measures to improve the quality of the export structure of Uzbekistan were developed.