Overvaluation of the real exchange rate and the Dutch Disease: the Colombian case.

In this study, we estimate the impact of the 2004-2012 energy and mining boom on the real effective exchange rate in Colombia and the sectoral composition of its economy. To this end, we introduce the new “extended Dutch Disease” concept, according to which a currency appreciation may not only occur...

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Autores:
Goda, Thomas
Torres, Alejandro
Tipo de recurso:
Fecha de publicación:
2013
Institución:
Universidad EAFIT
Repositorio:
Repositorio EAFIT
Idioma:
eng
OAI Identifier:
oai:repository.eafit.edu.co:10784/1214
Acceso en línea:
http://hdl.handle.net/10784/1214
Palabra clave:
Dutch Disease
Real effective exchange rate
Capital flows
Deindustrialization
Latin America
Colombia
Rights
License
Acceso abierto
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spelling Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees2013-11-12T20:51:34Z2013-11-122013-11-12T20:51:34Zhttp://hdl.handle.net/10784/1214F4O13O14O54In this study, we estimate the impact of the 2004-2012 energy and mining boom on the real effective exchange rate in Colombia and the sectoral composition of its economy. To this end, we introduce the new “extended Dutch Disease” concept, according to which a currency appreciation may not only occur due to traditional “spending” and “relocation” effects but also due to exports and massive inflows of external capital that finances the booming sector. The empirical results indicate that Colombia experienced an overvaluation of its real exchange rate, which in turn negatively affected the competitiveness of its manufacturing and agricultural sector.engUniversidad EAFITEscuela de Economía y FinanzasOvervaluation of the real exchange rate and the Dutch Disease: the Colombian case.workingPaperinfo:eu-repo/semantics/workingPaperDocumento de trabajo de investigacióndrafthttp://purl.org/coar/version/c_b1a7d7d4d402bccehttp://purl.org/coar/resource_type/c_8042Acceso abiertohttp://purl.org/coar/access_right/c_abf2Dutch DiseaseReal effective exchange rateCapital flowsDeindustrializationLatin AmericaColombiaGoda, ThomasTorres, Alejandrotgoda@eafit.edu.coatorres7@eafit.edu.coORIGINAL2013_28_Thomas_Goda.pdf2013_28_Thomas_Goda.pdfapplication/pdf1324717https://repository.eafit.edu.co/bitstreams/3b815e6f-ec0f-4b98-8255-485ec55afb02/download6ffa7eed8d76917ca4ffd76e97cf428dMD51LICENSElicense.txtlicense.txttext/plain; charset=utf-8968https://repository.eafit.edu.co/bitstreams/be36a390-7cb0-4de0-890b-0d81eaa9e882/download4cc960a42e07fca3808fbd6b90ab2a1fMD5210784/1214oai:repository.eafit.edu.co:10784/12142024-03-05 14:06:17.885open.accesshttps://repository.eafit.edu.coRepositorio Institucional Universidad EAFITrepositorio@eafit.edu.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
dc.title.eng.fl_str_mv Overvaluation of the real exchange rate and the Dutch Disease: the Colombian case.
title Overvaluation of the real exchange rate and the Dutch Disease: the Colombian case.
spellingShingle Overvaluation of the real exchange rate and the Dutch Disease: the Colombian case.
Dutch Disease
Real effective exchange rate
Capital flows
Deindustrialization
Latin America
Colombia
title_short Overvaluation of the real exchange rate and the Dutch Disease: the Colombian case.
title_full Overvaluation of the real exchange rate and the Dutch Disease: the Colombian case.
title_fullStr Overvaluation of the real exchange rate and the Dutch Disease: the Colombian case.
title_full_unstemmed Overvaluation of the real exchange rate and the Dutch Disease: the Colombian case.
title_sort Overvaluation of the real exchange rate and the Dutch Disease: the Colombian case.
dc.creator.fl_str_mv Goda, Thomas
Torres, Alejandro
dc.contributor.author.none.fl_str_mv Goda, Thomas
Torres, Alejandro
dc.subject.keyword.eng.fl_str_mv Dutch Disease
Real effective exchange rate
Capital flows
Deindustrialization
Latin America
Colombia
topic Dutch Disease
Real effective exchange rate
Capital flows
Deindustrialization
Latin America
Colombia
description In this study, we estimate the impact of the 2004-2012 energy and mining boom on the real effective exchange rate in Colombia and the sectoral composition of its economy. To this end, we introduce the new “extended Dutch Disease” concept, according to which a currency appreciation may not only occur due to traditional “spending” and “relocation” effects but also due to exports and massive inflows of external capital that finances the booming sector. The empirical results indicate that Colombia experienced an overvaluation of its real exchange rate, which in turn negatively affected the competitiveness of its manufacturing and agricultural sector.
publishDate 2013
dc.date.available.none.fl_str_mv 2013-11-12T20:51:34Z
dc.date.issued.none.fl_str_mv 2013-11-12
dc.date.accessioned.none.fl_str_mv 2013-11-12T20:51:34Z
dc.type.eng.fl_str_mv workingPaper
info:eu-repo/semantics/workingPaper
dc.type.coarversion.fl_str_mv http://purl.org/coar/version/c_b1a7d7d4d402bcce
dc.type.coar.fl_str_mv http://purl.org/coar/resource_type/c_8042
dc.type.local.spa.fl_str_mv Documento de trabajo de investigación
dc.type.hasVersion.eng.fl_str_mv draft
dc.identifier.uri.none.fl_str_mv http://hdl.handle.net/10784/1214
dc.identifier.jel.none.fl_str_mv F4
O13
O14
O54
url http://hdl.handle.net/10784/1214
identifier_str_mv F4
O13
O14
O54
dc.language.iso.eng.fl_str_mv eng
language eng
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dc.rights.local.spa.fl_str_mv Acceso abierto
rights_invalid_str_mv Acceso abierto
http://purl.org/coar/access_right/c_abf2
dc.coverage.spatial.eng.fl_str_mv Medellín de: Lat: 06 15 00 N degrees minutes Lat: 6.2500 decimal degrees Long: 075 36 00 W degrees minutes Long: -75.6000 decimal degrees
dc.publisher.spa.fl_str_mv Universidad EAFIT
dc.publisher.department.spa.fl_str_mv Escuela de Economía y Finanzas
institution Universidad EAFIT
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