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Soledad Zignago

Soledad Zignago

Soledad Zignago is a Senior Research Economist, in charge of research communication at the DG Economics and International Relations. Previously, she was Deputy Head of the Structural Policies and the International Trade & Competitiveness Divisions, and Senior Economist at the International Macroeconomics Division. Before joining the Banque de France in 2010, Soledad Zignago was Principal Economist at the Emerging Economies Unit of BBVA Research, in Madrid, and Economist-Researcher at the CEPII. - -



Current Position

Senior Research Economist, in charge of research communication

Previous Position

Deputy Head Structural Policies Division (2015-2016)
Deputy Head Competitiveness and External Trade Division (2013-2015)
Senior Economist - International Macroeconomics Division (2010-2013)
Principal Economist with BBVA Research (2009-2010)
Economist with CEPII (2000-2009)


PhD. in Economics, Université Paris 1

Research Interest

International trade and macroeconomics


+33 (0)1 42 92 47 39

Banque de France, 49-1374 DGEI-DEMS-SEPS, 75049 Paris Cedex 01

Publications Banque de France Bulletin no. 224:

Overindebtedness and women

By Berardi Nicoletta, Gaulier Guillaume, Zignago Soledad, Monteil Fabienne, Nivat Dominique
Thematic: Credit and financing
  • Published on 09/12/2019
  • EN
  • PDF (287.08 KB)
Publications Working Paper Series no. 673:

The Cost of Non-Europe, Revisited

By Mayer Thierry, Vicard Vincent, Zignago Soledad
  • Published on 04/09/2018
  • 47 pages
  • EN
  • PDF (1.46 MB)
Publications Quarterly Selection of Articles no. 33:

Spring 2014

By Kalantzis Yannick, Zignago Soledad, Towbin Pascal, Bernales Alejandro, Dugast Jérôme
  • EN
  • PDF (965.85 KB)
Publications Working Paper Series no. 472:

Market Shares in the Wake of the Global Crisis: the Quarterly Export Competitiveness Database

By Gaulier Guillaume, Gianluca Santoni, Taglioni Daria, Zignago Soledad
  • EN
  • PDF (1.13 MB)
Publications Working Paper Series no. 393:

European Export Performance

By Cheptea Angela, Fontagné Lionel, Zignago Soledad
  • EN
  • PDF (876.96 KB)
Publications Working Paper Series no. 358:

Market access in global and regional trade

By de Sousa José, Mayer Thierry, Zignago Soledad
  • EN
  • PDF (693.23 KB)
Publications Working Paper Series no. 310:

Bigger, Stronger, Farther… Relative performances of French exporting firms. (in French)

By Crozet Matthieu, Méjean Isabelle, Zignago Soledad
  • EN
  • PDF (340.9 KB)
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1. Export Competitiveness Database: A quarterly decomposition of markets shares growth since 2005

In the wake of the global crisis, countries must pay close attention to their positioning on the map of global trade and production and become aware of how they fare relative to competitors and to their past performance. To which extent changes in their market shares are driven by exporter own supply-side capacity as opposed to external or compositional factors, dues to their product and geographical specialization? This joint work World Bank/Banque de France uses quarterly data, covering all exchanges flows at the product level since 2005, to compute indicators of export performance stripped of compositional effects. The resulting Export Competitiveness Database (ECD) reveals that emerging and developing regions, particularly the Asia and Pacific one, had strongest capacity to gain market shares during the period, with changes reflecting growth in volume rather than price developments. In contrast, ECD indicators also trace the legacy of the double-dip recession in the euro area, which have turned into negative the geographical effects of the traditional intra-zone specialization, despite the generally positive effects of sectoral structure.

Suggested citation : Gaulier G., G. Santoni, D. Taglioni. & S. Zignago (2013), "Market Shares In the Wake of the Global Crisis: The Quarterly Export Competitiveness Database", Banque de France Working Paper 472.

Last version: January 2014. Previously: World Bank Policy Research Working Paper, WPS 6733, December 2013.

2. Shift-share decomposition of changes in world market shares, 1995-2009

The gains or losses of world market shares by individual countries are often considered as an index of their trade competitiveness. But given changes in demand, the relative medium-term inertia of geographical and sectoral specializations partly affects such outcomes. We analyze the redistribution of world market shares by an econometric shift-share decomposition of their changes in the period 1995-2009 into structural effects (geographical and sectoral) and a pure export performance effect. The paper focuses on larger exporters (and particularly on the European resilience to competition from emerging and low wage economies), but its online appendix provides results for all countries in the world.

Suggested citation : Cheptea A., L. Fontagné & S. Zignago (2014),"European Export Performance", Review of World Economics.

Last version: August 2012. Previously: BdF WP 2012 and contribution to L. Fontagné & G. Gaulier, "Exportations de la France et de l’Allemagne", Rapport CAE 2008.

3. New TradeProd: the trade, production and protection database, 1980-2006

TradeProd is the exhaustive dataset used in our estimatation of world border effects over the period 1980-2006. We provide figures in industrial production and related bilateral trade and trade policy (tariffs and NTBs) at the sectoral level (26 industries from the ISIC rev2 3-digit classification). Bilateral trade values come from BACI database (see below), industrial production from UNIDO and OECD, and bilateral data on trade policy (tariffs and NTBs) from TRAINS, which provides some years between 1989 and 2000 (depending on reporting countries), and from MAcMap, for the year 2001. Data is available here on three separate STATA files:, Trade_dSMZ_RSUE.rar and Country and industry codes and labels: TradeProd_dSMZ_RSUE.xls.

Suggested citation : de Sousa J., T. Mayer & S. Zignago (2012), "Market Access in Global and Regional Trade", Regional Science and Urban Economics 42(6).

Last version: July 2012 (zero trade flows included). Previously: CEPR DP 2012, BdF WP 2011 & Vox. .

4. GeoDist: Bilateral distances and other gravity variables

GeoDist database provides several bilateral variables (common language, frontier or colonizer, etc.) and in particular distances, which are measured using city-level data to assess the geographic distribution of population inside each nation. Country-specific (geo_cepii files) and bilateral (dist_cepii files) data, in Excel and Stata formats, are provided here.

Suggested citation : Mayer T. & S. Zignago (2011), "Notes on CEPII’s distances measures: The GeoDist database", CEPII Working Paper 2011-25.

5. BACI: International trade database at the product-level

BACI takes advantage of the double information on each bilateral flow, to end up with a large coverage of countries and more reliable data, especially in terms of unit-values. BACI provides bilateral values and quantities of exports at the HS 6-digit product disaggregation (5,000 products), for more than 200 countries over the period 1994-2009. BACI database is freely available to users of COMTRADE database and yearly updated by Charlotte Emlinger, at CEPII.

Suggested citation : Gaulier G. & S. Zignago (2010), "BACI: International Trade Database at the Product-level. The 1994-2007 Version", CEPII Working Paper 2010-23.

6. TradePrices: International trade price indices

TradePrices database provides aggregated and sectoral trade price indices for all countries of the world. Ten types of indices are computed using unit values given by BACI (version 1995-2004, SAS programs online).

Suggested citation : Gaulier G., J. Martin, I. Méjean & S. Zignago (2008), "International Trade Price Indices", CEPII Working Paper 2008-10.

Updated on: 08/20/2019 18:15