Understanding the international trade of Colombians: empirical evidence from the theory of comparative advantages (2000-2022)

• Autor(a) principal: Peláez Soto, José Tomás
• Data de Publicação: 2024
• Tipo de documento: Artigo
• Idioma: spa
• Título da fonte: Mises
• Texto Completo: https://revistamises.org.br/misesjournal/article/view/1515
• topic: Colômbia; Comércio internacional; Teoria das vantagens comparativas; Mínimos quadrados ordinários; Colombia; International trade; Comparative advantage theory; Ordinary least squares; Colombia; Comercio internacional; Teoría de las ventajas comparativas; Mínimos cuadrados ordinarios

The article contributes to the correct understanding of the international exchange of Colombians from the main teaching of the theory of comparative advantages, namely: exports to import. In addition to a solid theoretical framework, this teaching seeks to illustrate through an econometric regression by ordinary least squares. Empirical evidence showed that, indeed, imports depend on exports. It was found that a 1.0% increase in exports led to a 0.57% increase in imports between 2000-2022. It was also found that incoming remittances had a positive influence on imports: a 1.0% increase in remittances boosted imports by 0.25%. On the other hand, direct foreign investment did not influence imports. In general terms, the article provides evidence that allows, among other things, to refute the mercantilist conception of international exchange.