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The cut-off point used by Pitigala (2005) to compute the concentration of exports index for seven South Asian countries is 75%. He defined the concentration of exports as the number of products accounted for 75% of total export growth of a country to the rest of the world at SITC 4-digit product classification. However, due to inaccessibility of data for Malaysia at this disaggregated level, we measure the concentration of exports differently. links of london charms In our study, the geographic concentration index has been classified under three categories, namely 5 percent, 1 percent and 0.3 percent of exports. 5 percent of exports signify the countries where at least 5 percent of Malaysia exports are destined and similar definition applies to 1 percent and 0.3 percent. It is important to note that the number of countries varies in the range of 3 to 5 under the first category (i.e. 5 percent), while in the case of second and third category (1 percent and 0.3 percent) the number lies in the range of 14 to 19 and 23 to 31, respectively. links of london necklaces Therefore the value of the coefficients of geographic concentration showing complete diversification under the above stated three cases will be ... when the highest number in the range is used, respectively. discount links of london
Besides using these two types of measurements i.e. commodity concentration and geographic concentration as the explanatory variables, this study adopts another explanatory variables namely the share of primary commodity exports (PCC) as its third explanatory variable. Meanwhile, the instability index is used as the dependent variable where it is defined as annual percentage rate of change in the value of exports. It is measured according to major (IMajor), non-manufactured (INManu), manufactured (IManu) and total (ITotal). links of london bracelets The commodity concentration index is disaggregated into major (CMajor), non-manufacuted (CNManu), manufactured (CManu) and total (CTotal). This is done to identify the importance of a particular type of commodity concentration that is capable of explaining instability quite significantly. The geographic concentration is also measured at three levels; 5 percent, 1 percent and 0.3 percent as delineated above.