Ensaios em economia internacional

Detalhes bibliográficos
Autor(a) principal: Vasconcelos, Enrico Bezerra Ximenes de
Data de Publicação: 2007
Tipo de documento: Tese
Idioma: por
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: https://hdl.handle.net/10438/1734
Resumo: Using data for 53 developed and emerging economies from 1970 to 2006, this article investigates empirically the impact of trade openness on the real exchange rate devaluations that result from a large and unexpected fall in capital in ows.
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spelling Vasconcelos, Enrico Bezerra Ximenes deEscolas::EPGEBarbosa, Fernando de HolandaNascimento, FernandoBonomo, Marco Antônio CesarVerdier, ThierryTerra, Maria Cristina Trindade2008-09-18T18:08:52Z2008-09-18T18:08:52Z2007VASCONCELOS, Enrico Bezerra Ximenes de. Ensaios em economia internacional. Tese (Doutorado em Economia) - Escola de Pós-Graduação em Economia, Fundação Getúlio Vargas - FGV, Rio de Janeiro, 2007.https://hdl.handle.net/10438/1734Using data for 53 developed and emerging economies from 1970 to 2006, this article investigates empirically the impact of trade openness on the real exchange rate devaluations that result from a large and unexpected fall in capital in ows.This thesis is composed of three essays which analyse the effects of trade openness and of credit market frictions in the welfare of individuals. Each essay forms one chapter of this thesis. The first examines the role of trade openness in a crisis context. The second examines the ináationary consequences in a shortterm horizon of a policy which reduces trade barriers. The third analyses how credit markets impact the trade pattern and the welfare of individuals when countries trade. The first chapter investigates empirically the impact of trade openness on the real exchange rate devaluations that results from a large and unexpected fall in capital ináows. In order to test that effect of trade openness, this essay presents two tests which relate the exchange rate variation and the openness level. The firrst runs an OLS regression in a cross-section data which contains the relevant variables regarding to sudden stops. The second runs a TSLS regression in a time-series-cross-section data. Both tests find strong evidence that trade openness is the economic feature, under exclusive control of the country policymaker, that provides the most powerful effect in the trade balance given currency devaluations. The second chapter presents a simulation of a policy which reduces the import tariff in a fictitious country that shares the same economic features of Brazilian economy. The framework used to create the economy is based on the financial accelerator model for a small open economy of Gertler, Gilchrist and Natalucci (2003), but I extend it to consider import tariff as a policy variable. The results show that tariff reductions must be coordinated with monetary policy in order to optimize the welfare of individuals. The third chapter explores the relationship between quality of the credit markets and the trade pattern and considers the effects of that relationship on welfare of individuals. Using a general equilibrium model with innovation financing, this essay derives the trade pattern between two countries equal in all aspects, except in the quality of credit markets. Innovation arises in most of cases in the country with the best credit market, whereas the other country devotes a larger share of its labor endowment to manufacture goods without innovation content. A welfare analysis shows that opening to trade may hurt welfare of individuals for a period, but in the long run all of them are better under free trade than if they were under autarky. This fact raises a question: when the long run benefits of opening to trade compensate the short run costs? Calculations show that opening to trade is more likely to be worth when economies are not small, knowledge spills over countries and multinational corporations exist. Moreover, the inequality between residents of both countries is smaller in this setup.porTodo cuidado foi dispensado para respeitar os direitos autorais deste trabalho. Entretanto, caso esta obra aqui depositada seja protegida por direitos autorais externos a esta instituição, contamos com a compreensão do autor e solicitamos que o mesmo faça contato através do Fale Conosco para que possamos tomar as providências cabíveis.info:eu-repo/semantics/openAccessEnsaios em economia internacionalinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/doctoralThesisEconomiaRelações econômicas internacionaisreponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVORIGINAL053203008_Tese_Enrico_Vasconcelos.pdf053203008_Tese_Enrico_Vasconcelos.pdfPDFapplication/pdf634317https://repositorio.fgv.br/bitstreams/fa8316fe-9ce4-4151-9475-8dd6cdbd8f66/download129fb9472a2d33c5d659011d8286b774MD51LICENSElicense.txtlicense.txttext/plain; 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dc.title.por.fl_str_mv Ensaios em economia internacional
title Ensaios em economia internacional
spellingShingle Ensaios em economia internacional
Vasconcelos, Enrico Bezerra Ximenes de
Economia
Relações econômicas internacionais
title_short Ensaios em economia internacional
title_full Ensaios em economia internacional
title_fullStr Ensaios em economia internacional
title_full_unstemmed Ensaios em economia internacional
title_sort Ensaios em economia internacional
author Vasconcelos, Enrico Bezerra Ximenes de
author_facet Vasconcelos, Enrico Bezerra Ximenes de
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.member.none.fl_str_mv Barbosa, Fernando de Holanda
Nascimento, Fernando
Bonomo, Marco Antônio Cesar
Verdier, Thierry
dc.contributor.author.fl_str_mv Vasconcelos, Enrico Bezerra Ximenes de
dc.contributor.advisor1.fl_str_mv Terra, Maria Cristina Trindade
contributor_str_mv Terra, Maria Cristina Trindade
dc.subject.area.por.fl_str_mv Economia
topic Economia
Relações econômicas internacionais
dc.subject.bibliodata.por.fl_str_mv Relações econômicas internacionais
description Using data for 53 developed and emerging economies from 1970 to 2006, this article investigates empirically the impact of trade openness on the real exchange rate devaluations that result from a large and unexpected fall in capital in ows.
publishDate 2007
dc.date.issued.fl_str_mv 2007
dc.date.accessioned.fl_str_mv 2008-09-18T18:08:52Z
dc.date.available.fl_str_mv 2008-09-18T18:08:52Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/doctoralThesis
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status_str publishedVersion
dc.identifier.citation.fl_str_mv VASCONCELOS, Enrico Bezerra Ximenes de. Ensaios em economia internacional. Tese (Doutorado em Economia) - Escola de Pós-Graduação em Economia, Fundação Getúlio Vargas - FGV, Rio de Janeiro, 2007.
dc.identifier.uri.fl_str_mv https://hdl.handle.net/10438/1734
identifier_str_mv VASCONCELOS, Enrico Bezerra Ximenes de. Ensaios em economia internacional. Tese (Doutorado em Economia) - Escola de Pós-Graduação em Economia, Fundação Getúlio Vargas - FGV, Rio de Janeiro, 2007.
url https://hdl.handle.net/10438/1734
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