Estimación del impacto del comercio exterior en el empleo manufacturero en Colombia, 1991 - 2010

For the period 1991 to 2010, we measure the international trade impact over the manufacturing employment in Colombia, considering the different effects for each of the main trade partners. To do so, a labour demand equation was estimated using the System Generalized Method of Moments, as well as the...

Full description

Autores:
Cortés Villafradez, Raúl Alberto
Hernández Luna, Yesid
Tipo de recurso:
Article of investigation
Fecha de publicación:
2013
Institución:
Universidad Sergio Arboleda
Repositorio:
Repositorio U. Sergio Arboleda
Idioma:
spa
OAI Identifier:
oai:repository.usergioarboleda.edu.co:11232/614
Acceso en línea:
http://hdl.handle.net/11232/614
Palabra clave:
Comercio exterior y empleo - Colombia - 1991-2010
Comercio internacional
international trade
skilled and unskilled jobs
labour market inertia
labour demand in the manufacture sector
GMM system data panel
empleo calificado y no calificado
inercia del mercado laboral
demanda laboral y manufacturero
sistema GMM panel data
Rights
License
Atribución-NoComercial-SinDerivadas 2.5 Colombia (CC BY-NC-ND 2.5 CO)
id sergioarb2_d6bdd6d3f972e70a2daf1d74fcb64b37
oai_identifier_str oai:repository.usergioarboleda.edu.co:11232/614
network_acronym_str sergioarb2
network_name_str Repositorio U. Sergio Arboleda
repository_id_str
dc.title.spa.fl_str_mv Estimación del impacto del comercio exterior en el empleo manufacturero en Colombia, 1991 - 2010
title Estimación del impacto del comercio exterior en el empleo manufacturero en Colombia, 1991 - 2010
spellingShingle Estimación del impacto del comercio exterior en el empleo manufacturero en Colombia, 1991 - 2010
Comercio exterior y empleo - Colombia - 1991-2010
Comercio internacional
international trade
skilled and unskilled jobs
labour market inertia
labour demand in the manufacture sector
GMM system data panel
empleo calificado y no calificado
inercia del mercado laboral
demanda laboral y manufacturero
sistema GMM panel data
title_short Estimación del impacto del comercio exterior en el empleo manufacturero en Colombia, 1991 - 2010
title_full Estimación del impacto del comercio exterior en el empleo manufacturero en Colombia, 1991 - 2010
title_fullStr Estimación del impacto del comercio exterior en el empleo manufacturero en Colombia, 1991 - 2010
title_full_unstemmed Estimación del impacto del comercio exterior en el empleo manufacturero en Colombia, 1991 - 2010
title_sort Estimación del impacto del comercio exterior en el empleo manufacturero en Colombia, 1991 - 2010
dc.creator.fl_str_mv Cortés Villafradez, Raúl Alberto
Hernández Luna, Yesid
dc.contributor.author.spa.fl_str_mv Cortés Villafradez, Raúl Alberto
Hernández Luna, Yesid
dc.subject.lemb.spa.fl_str_mv Comercio exterior y empleo - Colombia - 1991-2010
Comercio internacional
topic Comercio exterior y empleo - Colombia - 1991-2010
Comercio internacional
international trade
skilled and unskilled jobs
labour market inertia
labour demand in the manufacture sector
GMM system data panel
empleo calificado y no calificado
inercia del mercado laboral
demanda laboral y manufacturero
sistema GMM panel data
dc.subject.proposal.eng.fl_str_mv international trade
skilled and unskilled jobs
labour market inertia
labour demand in the manufacture sector
GMM system data panel
dc.subject.proposal.spa.fl_str_mv empleo calificado y no calificado
inercia del mercado laboral
demanda laboral y manufacturero
sistema GMM panel data
description For the period 1991 to 2010, we measure the international trade impact over the manufacturing employment in Colombia, considering the different effects for each of the main trade partners. To do so, a labour demand equation was estimated using the System Generalized Method of Moments, as well as the available information from the Annual Survey of Manufacturing, the administrative records of exports and imports from DIAN, and the National Accounts from DANE. Econometric estimations produced, for this period, evidence inertia in the Colombian labour market. In addition, a substitution relationship between capital and labour was also found. In particular, imports showed none or a negative effect over employment. Analyses by destiny and origin of trade showed that exports to Venezuela, the Andean Community, Chile, Argentina and U.S.A had a negative or none correlation with employment. Likewise, we found none or a slightly low impact of international trade over the labour skilled and unskilled intensive sectors employment.
publishDate 2013
dc.date.issued.spa.fl_str_mv 2013-01-01
dc.date.accessioned.eng.fl_str_mv 2016-06-01T13:52:54Z
2017-05-16T19:22:58Z
dc.date.available.spa.fl_str_mv 2016-06-01T13:52:54Z
2017-05-16T19:22:58Z
dc.date.spa.fl_str_mv 2013
dc.type.coarversion.spa.fl_str_mv http://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.coar.spa.fl_str_mv http://purl.org/coar/resource_type/c_2df8fbb1
dc.type.redcol.eng.fl_str_mv http://purl.org/redcol/resource_type/ART
dc.type.local.spa.fl_str_mv Artículo de revista
format http://purl.org/coar/resource_type/c_2df8fbb1
dc.identifier.issn.spa.fl_str_mv 2145-6194
dc.identifier.instname.spa.fl_str_mv instname:Universidad Sergio Arboleda
dc.identifier.reponame.spa.fl_str_mv reponame:Repositorio Institucional Universidad Sergio Arboleda
dc.identifier.repourl.*.fl_str_mv repourl:https://repository.usergioarboleda.edu.co/
dc.identifier.url.eng.fl_str_mv http://hdl.handle.net/11232/614
identifier_str_mv 2145-6194
instname:Universidad Sergio Arboleda
reponame:Repositorio Institucional Universidad Sergio Arboleda
repourl:https://repository.usergioarboleda.edu.co/
url http://hdl.handle.net/11232/614
dc.language.iso.spa.fl_str_mv spa
language spa
dc.relation.ispartof.spa.fl_str_mv Revista Civilizar de Empresa y Economía; vol. 4, núm. 7 (2013)
dc.relation.references.spa.fl_str_mv Cortes, V., R. A., Hernandez, L., Y. (2013). Estimación del impacto del comercio exterior en el empleo manufacturero en Colombia, 1991-2010. Civilizar Empresa y Economía. 4 (7), 27-49.
Attanasio, O., Goldberg, K., & Pavcnik, N. (June 2003). “Trade Reforms and Wage Inequality in Colombia”. Journal of Development Economics, Vol. 74, No. 2, pp. 331-366.
DANE. (2000). “Tasa de desempleo 1990-2000”. Bogota, Colombia
DIAN. (1991). “Registros Administrativos”. Bogota, Colombia.
Dussel, E., (octubre de 2004). “Efectos de la Política Comercial en el Empleo y el Mercado Laboral de México y sus Diferencias con Argentina y Brasil (1990 - 2003)”,Documentos de Estrategias de Empleo, Oficina Internacional del Trabajo, Ginebra
Mesa, F., & Gutiérrez, J. (1996). “Los efectos no considerados de la Apertura Económica en el mercado laboral colombiano”. Planeación y Desarrollo Vol. XXVII, n. 4, 13-45
dc.relation.references.eng.fl_str_mv Appleyard & Field. (2003). "Economía Internacional". Cuarta edición. Editorial Mc Graw Hill. Madrid
Arellano, M., & S. Bond. (April 1991). “Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations”. The Review of EconomicStudies, 58. Pp. 277 - 297.
Baum, C. (2006). “An introduction to modern econometrics using Stata”. Stata Press.
Blundell R. & S. Bond. (1998). “Initial conditions and moments restrictions in dynamic panel data models”. Journal of Econometrics 87: 115-114
Castro, L., Olarreaga, M., & Saslavsky, D. (October 2006). “The Impact of Trade with China and India on Argentina’s Manufacturing Employment”. Munich RePEc Personal Archive. MPRA 538.
Kiviet J. (1995). “On bias, inconsistency and efficiency of various estimators in dynamic panel data models”. Journal of Econometrics, 68
Lombaerde, P. (2011). “Fine-Tuning Export Promotion Policies in Colombia”.Antwerp-Apeldoorn: Garant, pp. 117-136
Mileva E. (2007). “Using Arellano – Bond Dynamic Panel GMM Estimators in State”. Economics Department, Fordham University
Nickell S. (1981). “Biases in dynamic models with fixed effects”. Econometrica 49, 1417 – 1426.
Rama, M. (1994). “The Effects of Protectionism on a Small Country: The Case of Uruguay”.In M. Connolly & J. de Melo (eds), The Labor Market and Trade Reform inManufacturing, World Bank Regional and Sectoral Studies, Washington, DC: 108-123
Revenga, L. (1997). “Employment and Wage Effects of Trade Liberalization: The Case ofMexican Manufacturing”. Journal of Labour Economics 15 (3): S20-S43.Sefg qertqert (2)
Roberts, M., & Skoufias E. (1997). “The long run demand for skilled and unskilled laborin Colombian manufacturing plants”. The Review of Economics and Statistics, Vol. 79, No. 2, pp. 330-334.
Roodman, D. (December 2006). “How to do xtabond2: an introduction to “Difference” and “System” GMM in Stata”, Center for Global Development Working Paper Number 10
dc.relation.ispartofjournal.spa.fl_str_mv Civilizar Empresa y Economía
dc.relation.citationvolumen.spa.fl_str_mv 4
dc.relation.citationissue.spa.fl_str_mv 7
dc.relation.citationstartpage.spa.fl_str_mv 27
dc.relation.citationendpage.spa.fl_str_mv 46
dc.rights.license.*.fl_str_mv Atribución-NoComercial-SinDerivadas 2.5 Colombia (CC BY-NC-ND 2.5 CO)
dc.rights.uri.*.fl_str_mv http://creativecommons.org/licenses/by-nc-nd/2.5/co/
dc.rights.acceso.spa.fl_str_mv Abierto (Texto Completo)
dc.rights.coar.*.fl_str_mv http://purl.org/coar/access_right/c_abf2
rights_invalid_str_mv Atribución-NoComercial-SinDerivadas 2.5 Colombia (CC BY-NC-ND 2.5 CO)
http://creativecommons.org/licenses/by-nc-nd/2.5/co/
Abierto (Texto Completo)
http://purl.org/coar/access_right/c_abf2
dc.format.extent.spa.fl_str_mv 12
dc.format.medium.spa.fl_str_mv Digital
dc.format.mimetype.eng.fl_str_mv application/pdf
dc.format.tipo.spa.fl_str_mv documentos
dc.publisher.spa.fl_str_mv Bogotá : Universidad Sergio Arboleda
institution Universidad Sergio Arboleda
bitstream.url.fl_str_mv https://repository.usergioarboleda.edu.co/bitstream/11232/614/1/Estimacion%20del%20impacto%20del%20comercio%20exterior%20en%20el%20empleo%20manufacturero%20en%20Colombia%201991-2010.html
https://repository.usergioarboleda.edu.co/bitstream/11232/614/2/license_rdf
https://repository.usergioarboleda.edu.co/bitstream/11232/614/3/license.txt
https://repository.usergioarboleda.edu.co/bitstream/11232/614/4/Estimacion%20del%20impacto%20del%20comercio%20exterior%20en%20el%20empleo%20manufacturero%20en%20Colombia%201991-2010.html.txt
bitstream.checksum.fl_str_mv 2fc0409f5c42faac4dc5c718bc74ff0f
bb87e2fb4674c76d0d2e9ed07fbb9c86
8a4605be74aa9ea9d79846c1fba20a33
40ea728eed9f2fbf047725e423051ed6
bitstream.checksumAlgorithm.fl_str_mv MD5
MD5
MD5
MD5
repository.name.fl_str_mv Repositorio Institucional Universidad Sergio Arboleda
repository.mail.fl_str_mv dspace-help@myu.edu
_version_ 1814076294584860672
spelling Atribución-NoComercial-SinDerivadas 2.5 Colombia (CC BY-NC-ND 2.5 CO)https://repository.usergioarboleda.edu.co/bitstream/id/f067a0a4-bbd7-4565-93f4-0f1e58a7a83b/license.txthttp://creativecommons.org/licenses/by-nc-nd/2.5/co/Abierto (Texto Completo)http://purl.org/coar/access_right/c_abf2Cortés Villafradez, Raúl AlbertoHernández Luna, Yesid20132016-06-01T13:52:54Z2017-05-16T19:22:58Z2016-06-01T13:52:54Z2017-05-16T19:22:58Z2013-01-012145-6194instname:Universidad Sergio Arboledareponame:Repositorio Institucional Universidad Sergio Arboledarepourl:https://repository.usergioarboleda.edu.co/http://hdl.handle.net/11232/614For the period 1991 to 2010, we measure the international trade impact over the manufacturing employment in Colombia, considering the different effects for each of the main trade partners. To do so, a labour demand equation was estimated using the System Generalized Method of Moments, as well as the available information from the Annual Survey of Manufacturing, the administrative records of exports and imports from DIAN, and the National Accounts from DANE. Econometric estimations produced, for this period, evidence inertia in the Colombian labour market. In addition, a substitution relationship between capital and labour was also found. In particular, imports showed none or a negative effect over employment. Analyses by destiny and origin of trade showed that exports to Venezuela, the Andean Community, Chile, Argentina and U.S.A had a negative or none correlation with employment. Likewise, we found none or a slightly low impact of international trade over the labour skilled and unskilled intensive sectors employment.En el presente documento se evalúa el impacto diferencial del comercio con los principales socios comerciales de Colombia sobre el empleo manufacturero, durante el período de 1991 a 2010. Para ello, se estimó una ecuación de demanda laboral mediante la metodología Sistema Generalizado Método de Momentos, con la información disponible de la Encuesta Anual Manufacturera, los registros administrativos de exportaciones e importaciones de la DIAN, y las Cuentas Nacionales del DANE. Las estimaciones econométricas indicaron que la demanda laboral en Colombia depende positivamente del nivel de empleo de los períodos anteriores (inercia en el mercado laboral colombiano). Además, se encontró una relación de sustitución entre el capital y el trabajo. Se observó igualmente, que la correlación de las importaciones con el nivel de empleo no es positiva. En el análisis del destino y origen del comercio se encontró que las exportaciones a Venezuela, la Comunidad Andina, Chile, Argentina y Estados Unidos tienen una correlación negativa o nula con la demanda laboral del sector manufacturero. En el caso de los sectores intensivos en mano de obra calificada o no calificada, se halló un efecto nulo o moderadamente bajo del comercio sobre el nivel de empleo en ambos tipos de calificaciones.12Digitalapplication/pdfdocumentosspaBogotá : Universidad Sergio ArboledaRevista Civilizar de Empresa y Economía; vol. 4, núm. 7 (2013)Cortes, V., R. A., Hernandez, L., Y. (2013). Estimación del impacto del comercio exterior en el empleo manufacturero en Colombia, 1991-2010. Civilizar Empresa y Economía. 4 (7), 27-49.Attanasio, O., Goldberg, K., & Pavcnik, N. (June 2003). “Trade Reforms and Wage Inequality in Colombia”. Journal of Development Economics, Vol. 74, No. 2, pp. 331-366.DANE. (2000). “Tasa de desempleo 1990-2000”. Bogota, ColombiaDIAN. (1991). “Registros Administrativos”. Bogota, Colombia.Dussel, E., (octubre de 2004). “Efectos de la Política Comercial en el Empleo y el Mercado Laboral de México y sus Diferencias con Argentina y Brasil (1990 - 2003)”,Documentos de Estrategias de Empleo, Oficina Internacional del Trabajo, GinebraMesa, F., & Gutiérrez, J. (1996). “Los efectos no considerados de la Apertura Económica en el mercado laboral colombiano”. Planeación y Desarrollo Vol. XXVII, n. 4, 13-45Appleyard & Field. (2003). "Economía Internacional". Cuarta edición. Editorial Mc Graw Hill. MadridArellano, M., & S. Bond. (April 1991). “Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations”. The Review of EconomicStudies, 58. Pp. 277 - 297.Baum, C. (2006). “An introduction to modern econometrics using Stata”. Stata Press.Blundell R. & S. Bond. (1998). “Initial conditions and moments restrictions in dynamic panel data models”. Journal of Econometrics 87: 115-114Castro, L., Olarreaga, M., & Saslavsky, D. (October 2006). “The Impact of Trade with China and India on Argentina’s Manufacturing Employment”. Munich RePEc Personal Archive. MPRA 538.Kiviet J. (1995). “On bias, inconsistency and efficiency of various estimators in dynamic panel data models”. Journal of Econometrics, 68Lombaerde, P. (2011). “Fine-Tuning Export Promotion Policies in Colombia”.Antwerp-Apeldoorn: Garant, pp. 117-136Mileva E. (2007). “Using Arellano – Bond Dynamic Panel GMM Estimators in State”. Economics Department, Fordham UniversityNickell S. (1981). “Biases in dynamic models with fixed effects”. Econometrica 49, 1417 – 1426.Rama, M. (1994). “The Effects of Protectionism on a Small Country: The Case of Uruguay”.In M. Connolly & J. de Melo (eds), The Labor Market and Trade Reform inManufacturing, World Bank Regional and Sectoral Studies, Washington, DC: 108-123Revenga, L. (1997). “Employment and Wage Effects of Trade Liberalization: The Case ofMexican Manufacturing”. Journal of Labour Economics 15 (3): S20-S43.Sefg qertqert (2)Roberts, M., & Skoufias E. (1997). “The long run demand for skilled and unskilled laborin Colombian manufacturing plants”. The Review of Economics and Statistics, Vol. 79, No. 2, pp. 330-334.Roodman, D. (December 2006). “How to do xtabond2: an introduction to “Difference” and “System” GMM in Stata”, Center for Global Development Working Paper Number 10Civilizar Empresa y Economía472746Estimación del impacto del comercio exterior en el empleo manufacturero en Colombia, 1991 - 2010Comercio exterior y empleo - Colombia - 1991-2010Comercio internacionalinternational tradeskilled and unskilled jobslabour market inertialabour demand in the manufacture sectorGMM system data panelempleo calificado y no calificadoinercia del mercado laboraldemanda laboral y manufacturerosistema GMM panel datahttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_2df8fbb1http://purl.org/redcol/resource_type/ARTArtículo de revistaORIGINALEstimacion del impacto del comercio exterior en el empleo manufacturero en Colombia 1991-2010.htmlArtículotext/html233https://repository.usergioarboleda.edu.co/bitstream/11232/614/1/Estimacion%20del%20impacto%20del%20comercio%20exterior%20en%20el%20empleo%20manufacturero%20en%20Colombia%201991-2010.html2fc0409f5c42faac4dc5c718bc74ff0fMD51open accessCC-LICENSElicense_rdfapplication/octet-stream1232https://repository.usergioarboleda.edu.co/bitstream/11232/614/2/license_rdfbb87e2fb4674c76d0d2e9ed07fbb9c86MD52open accessLICENSElicense.txttext/plain1748https://repository.usergioarboleda.edu.co/bitstream/11232/614/3/license.txt8a4605be74aa9ea9d79846c1fba20a33MD53open accessTEXTEstimacion del impacto del comercio exterior en el empleo manufacturero en Colombia 1991-2010.html.txtEstimacion del impacto del comercio exterior en el empleo manufacturero en Colombia 1991-2010.html.txtExtracted texttext/plain38https://repository.usergioarboleda.edu.co/bitstream/11232/614/4/Estimacion%20del%20impacto%20del%20comercio%20exterior%20en%20el%20empleo%20manufacturero%20en%20Colombia%201991-2010.html.txt40ea728eed9f2fbf047725e423051ed6MD54open access11232/614oai:repository.usergioarboleda.edu.co:11232/6142022-04-29 15:58:50.118open accessRepositorio Institucional Universidad Sergio Arboledadspace-help@myu.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