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Revealed Comparative Advantages of Pharmaceutical Industry

Scientific article is based on the results of 23 pharmaceutical industries of the world during the period from 2006 to 2010 (Classification SITC 241). The methodology of this research is based on the application of indices of openness to foreign trade and detected competitive advantages, as well as the complete analysis of sector named production of medicinal and pharmaceutical products. Moreover, this secondary research mostly includes group of European countries and group of other relevant countries. The basic aim of this research is to measure comparative advantages and objectively evaluate the export competitiveness of sector of medicinal and pharmaceutical products. In order to analyze the competitive advantages of the pharmaceutical industries the following quantitative methods were used: Revealed Comparative Advantage (RCA), as a method for detecting comparative advantages of exporting goods of some countries, Export Competitiveness Indices (XS), as a method for measuring export competitiveness of the observed countries, Export Specialization Index (ES), as a method for comparing export activities of the pharmaceutical industry in observed countries, and the Relative Trade Advantage Index (RTA) that incorporates the RCA and the RMA indices. The main results of the research indicate competitive advantages detected by measuring, evaluation of the pharmaceutical industry particularly on foreign markets, recommendations and proposals in order to reach a higher level of export competitiveness.

export competitiveness, RCA index, net export of RCA, RTA index, pharmaceutical industry

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