Efectos diferenciales de la tasa de cambio real sobre el comercio internacional en Colombia

During the 2006-2013 period, Colombia experienced on the strongest appreciations in the world. During this same period, the volume of manufacturing exports fell nearly 50%, while the volume if imports rose in the same quantity. This work aims to determine the effect of the real exchange rate on the...

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Autores:
Torres, Alejandro
Goda, Thomas
Sanchez, Santiago
Romero, Adriana
Tipo de recurso:
Fecha de publicación:
2017
Institución:
Universidad EAFIT
Repositorio:
Repositorio EAFIT
Idioma:
spa
OAI Identifier:
oai:repository.eafit.edu.co:10784/11558
Acceso en línea:
http://hdl.handle.net/10784/11558
Palabra clave:
real exchange rate
exports
imports
international commerce
tasa de cambio real
exportaciones
importaciones
comercio internacional
Rights
License
Acceso abierto
Description
Summary:During the 2006-2013 period, Colombia experienced on the strongest appreciations in the world. During this same period, the volume of manufacturing exports fell nearly 50%, while the volume if imports rose in the same quantity. This work aims to determine the effect of the real exchange rate on the flow of international commerce in the manufacturing sector. For this end, and as a main approach, sub-sectoral real exchange rate indices are calculated for 19 manufacturing subsectors, noting the potential existence of heterogeneities between them. The price elasticities for exports and imports are also estimated using the bilateral and sub-sectoral real exchange rate index. The results indicate the existence of important differences between the behavior of the real exchange rate between subsectors, and that these differences explain the behavior of exports in the different manufacturing sectors, although the results are not so clear for the case of imports. These results suggest that policymakers should consider the differential effects of their policies on manufacturing performance when they affect the real exchange rate.