ABSTRACT The goal of this article is to assess the impact of the euro’s adoption on the complexity of goods in Estonian exports. That policy decision may result in the specialization of production of either more or less sophisticated goods, depending on the country’s technological advancement and factor endowment. At the same time, intensified foreign direct investment (FDI) flows may enhance the engagement of a country in international production chains with ambiguous consequences for export complexity. We applied the Synthetic Control Method to compare the observed post-adoption levels of export complexity in Estonia with the counterfactual values of Estonia remaining outside of the Eurozone.

中文翻译：

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欧元是否增加了出口商品的复杂性？爱沙尼亚的情况

摘要 本文的目的是评估欧元的采用对爱沙尼亚出口商品复杂性的影响。该政策决定可能导致或多或少复杂产品的生产专业化，这取决于该国的技术进步和要素禀赋。与此同时，强化的外国直接投资 (FDI) 流动可能会加强一个国家在国际生产链中的参与，对出口复杂性产生模糊的影响。我们应用综合控制方法来比较爱沙尼亚采用后出口复杂性的观察水平与爱沙尼亚留在欧元区之外的反事实值。