Abstract

ALBORNOZ, Maximiliano. Elasticities of foreign trade in Latin America. Estimatesfor 1993-2014. Ciclos hist. econ. soc. [online]. 2018, vol.29, n.50, pp.1-20. ISSN 1851-3735.

This paper provides estimates of aggregate foreign trade elasticities for a set of Latin American countries using a model of error correction for the period 1993-2014. The results show a low elasticity of exported and imported volumes to changes in the multilateral real exchange rate. The income elasticity of imports is higher than the income elasticity of exports in most countries, as a great part of the literature indicates. Exchange rate volatility has a negative effect on trade volumes, but a great impact on imports.

Keywords : Exports, imports, real exchange rate, elasticities..

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