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In this paper, the authors use a recent measure of the "Income level of a country's exports" proposed by Hausmann et al. (2007) to characterize the structure of the Portuguese export basket, its recent evolution and the role of FDI in this process. They find that between 1990 and 2005 the improvement in the income content of the Portuguese export basket was achieved through a positive "Structural transformation effect" that more than offset the negative effect of having a significant share of products exposed to an increasing competition from emerging economies.
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