The paper aims to identify the determinants of the exports in high-technology sectors (HT) of Visegrad countries (the Visegrad four, V‑4: Poland, the Czech Republic, Slovakia, Hungary) and the core members states of the European Union (EU). Based on the augmented gravity model, we estimate the regressions on panel data of the bilateral export flows of the EU15 and V‑4 with the rest of the world in 1999–2011, by employing Poisson pseudo-maximum-likelihood (PPML) estimator. The comparison of the estimations of the overall export flows with the estimates explicitly done for high-tech sectors allow us to outline the main characteristics of the existing gap in high-tech export performances of the EU 15 and V‑4. Namely, estimation results find that while for the EU15 the export flows increase with similarity in physical and human capital accumulation of the trade partners, for V‑4 human capital accumulation appears less significant and instead of similarity, the difference in physical capital stock increases export flows.
What Determines Export Performances in High-tech Industries?