Intelligent Export Diversification: An Export Recommendation System with Machine Learning

Volume/Issue: Volume 2020 Issue 175

Publication date: August 2020

ISBN: 9781513555959

$18.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Exports and Imports , Economics- Macroeconomics , WP , SITC product lists , price boom , product-space literature , country-product space , export basket , export product , KNN implementation , export diversificiation , comparative advantage , machine learning , collaborative filtering , economic growth , international trade , RCA export , export structure , diversification strategy , KNN recommender , export diversification recommendation , product name , Exports , Export diversification , Personal income , East Asia , Caribbean , Africa , Global , export diversification strategy

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Summary

This paper presents a set of collaborative filtering algorithms that produce product recommendations to diversify and optimize a country's export structure in support of sustainable long-term growth. The recommendation system is able to accurately predict the historical trends in export content and structure for high-growth countries, such as China, India, Poland, and Chile, over 20-year spans. As a contemporary case study, the system is applied to Paraguay, to create recommendations for the country's export diversification strategy.